Mike Novogratz of Galaxy Digital Onboards Ex UBS Director to Grow Crypto Trading Business
Galaxy Digital, founded by Michael Novogratz, a famed trader, has recently started to upgrade its team members to create a better trading unit. The company has been hiring new key employees and has welcomed Joshua Lim, the former UBS director, a company based in Switzerland. Apart from him, other Wall Street experts were hired by the company.
At UBS, Lim was in charge of the firm’s central risk book team. He started there in 2017 and he continued in the company until recently. He held a position in Circle before being a part of UBS and started his career at Goldman Sachs in 2009 as a derivatives trader.
Among the other professionals hired by the company were many former employees of Goldman Sachs and Citigroup, according to sources. Some other hires include David Sweet, a 20-year veteran in trading that has worked on Teza Capital Management in 2017.
He also held a position as head of the equities desk in KCG, a trading firm acquired by Virtu in 2017 and worked in Lehman Brothers before the company had to shut down in 2008.
About Galaxy Digital
Galaxy Digital has started trading on Canada’s TSX Venture Exchange recently. The company was not even formed a year ago and it is already showing some promise. It is focused on four units: trading, asset management, advisory services and principal investing.
According to Novogratz, the company has been able to assemble a stellar team with institutional knowledge and has made a significant progress in scaling its main business lines.
Galaxy is another example of a crypto company sweeping Wall Street in search of professionals. It is a well-known truth that crypto companies are looking at Wall Street. Coinbase, for instance, has taken several employees from the New York Stock Exchange and Kraken, from the Credit Suisse and Jump Trading.
While the cryptocurrency prices might be facing a severe bear market, it is certain that these companies are hyped about the future and the prospects of getting a piece in this market, which has a lot of room for growth.