In an announcement on Thursday, Libra Association announced James Emmett, former European head at HSBC as the new managing director of its subsidiary, Libra Networks LLC. Emmett will start his role at the digital stablecoin firm on October 1.
According to the statement, James Emmett is a well-experienced financial services leader in “business, strategy, technology, and operations” having worked 25 years at the global financial institution. Emmett becomes the second high-profile manager from HSBC to join Libra, after Stuart Levey joined as the CEO of the Libra Association earlier this year.
Speaking on Emmett’s appointment, Levey showed his excitement saying the new appointee’s “leadership will help make Libra's vision a reality.”
Emmett’s 25 years at HSBC saw him take on a number of roles including chief executive of HSBC Bank PLC and Europe. In his capacity as the chief executive of HSBC PLC, Emmet was responsible for the bank’s wholesale and retail operations across Continental Europe, Sub-Saharan Africa, and Bermuda. Emmett has also acted in the position of COO of HSBC overseeing overseas technology operations. Passionate in the opportunities that digital currencies offer the current financial services, Emmett said,
“I am delighted to be joining Libra Networks with a mission to enhance financial innovation and inclusion and to deliver the operationalization of the network.”
With global regulators on Libra’s neck as the Association plans to launch its stablecoin, Libra is moving to employ more legal experts to smooth the relationship with global regulators. Shortly after appointment of Stuart Levey and CEO of Libra Association, Libra appointed Ex-Goldman Sachs Executive, Sterling Daines as its global compliance lead and Stevan Bunnel, former Homeland Security general counsel to replace Robert Werner as Libra’s general counsel.