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
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