David Gross, an important executive who already worked in companies such as Credit Suisse, Cumberland and Lehman Brothers, was hired by Galaxy Digital. The cryptocurrency merchant bank has decided to hire the executive to be the new head of global sales of the company. This information was originally unveiled during an internal memo sent out to investors.
Cumberland was one of the major rivals of Galaxy Digital in the over the counter (OTC) trading market. Because of this, in hiring Gross, the company is probably also hiring some expertise from its main rival.
Now, the exec will use his 15 years of experience in order to make Galaxy Digital have a better 2019 than in 2018. The company was reported to face severe losses during the bear market last year, so it is in a dire need of getting some profit.
Gross is set to coordinate sales across all the business units of the company. He will report only to the president of the crypto merchant bank in his new position. The company also hired Tim Plakas recently, who worked as Coinbase over the counter department’s head before leaving the company.
Galaxy Digital is far from the only company hiring. Cumberland is also on a hiring spree in order to improve the quality of its ranks. The company has recently decided to hire James Radecki, Jason Leung and Bobby Cho, all for executive positions.