A large American banking holding company, Morgan Stanley, hired an employee with 12 years of experience at Credit Suisse to head the bank’s “digital asset market.”
Andrew Peel joined Morgan Stanley as head of digital asset markets in July 2018, according to his LinkedIn profile. A Morgan Stanley spokesman confirmed the hire but declined to comment further.
Peel spent 12 years at Credit Suisse, where he served as vice president of sales and trading innovation, according to his LinkedIn profile. In this role, he said, he became “an expert on Bitcoin and cryptocurrencies.” Peel's move to Morgan Stanley was first reported by eFinancialCareers.
It is not yet known whether this position was created specifically for Peel, and it is unclear exactly what duties he will perform in the new workplace. A representative of the bank declined to comment on this matter.
The cryptocurrency blog ICO Journal wrote in April that, according to its sources, Morgan Stanley is going to open a cryptocurrency trading platform. The bank's analysts also looked into blockchain technology earlier this year, and the bank is preparing to offer bitcoin futures to clients.
Most major investment banks are showing interest in cryptocurrencies. Goldman Sachs plans to open a bitcoin trading platform, and JP Morgan recently appointed a specialist to the position of head on cryptocurrency strategy.
Many experts note that key infrastructure elements, such as investment vehicles for institutional investors, must be put in place to truly attract big banks to the market.
According to uk.businessinsider.com
You May Also Like
The world's first investment bank on blockchain
Currently, several large companies are working together to create the world's first blockchain investment bank in Malaysia, with a separate division for processing cryptocurrency payments. This event is the next step in the evolution of the industry.
Ukrainian Monobank is ready to launch a Bitcoin card
The Ukrainian monobank has not been able to launch a Bitcoin card for three months due to the reluctance of the National Bank to approve the finished product.
