Citi’s Digital Asset Co-leaders Quit with A Vision to Launch Cryptocurrency Firm
Alex Kriete, Co-Head of Digital Assets at Citi, resigned from the banking behemoth on March 10 through LinkedIn after 11 years with the company. In his article, he indicated that he intended to dedicate himself full-time to building a new cryptocurrency firm, although he offered no other specifics at the moment.
Kriete has co-led the Digital Assets Group with Greg Girasole for less than a year, having joined the organization in June 2021. Girasole announced his resignation on LinkedIn as well, and he and Kriete want to launch their own blockchain-related firm. More information will be shared in the following weeks, according to the two.
Digital Asset empowers the world’s most innovative organizations to work across traditional boundaries, creating interconnected networks where information and assets flow freely.
Greg Girasole, Co-Head of Digital Assets for Citi Global Wealth Investments is Portfolio Manager building and implementing multi-asset class portfolios for Ultra High Net Worth individuals. CFA and CAIA Charter holder experienced in valuation and risk mitigation, and skilled in Bloomberg, FactSet, and Excel. Blockchain enthusiast and Crypto Asset investor.
Kriete’s enthusiasm for his new venture stems from his conviction that digital assets would “continue to increase in relevance to global capital markets and the emergence of new business models.”
He went on to say that his own interest in blockchain-enabled digital assets began more than five years ago and has now led him to want to “help in the maturity of this market” on his own terms.
Whereas Kriete and Girasole handled Citi’s wealth management division’s digital assets business, the bank also has a digital assets section under its Institutional Clients Group, which is overseen by the newly recruited Puneet Singhvi.
Another Citi employee, Matt Zhang, recently jumped ship to start Hivemind Capital Partners, a $1.5 billion crypto fund using Algorand as its first technology partner. A senior Goldman Sachs employee, Roger Bartlett, thought it was “time to embrace the crypto economy” and left the bank to oversee Global Financial Operations at Coinbase in a similar corporate leadership move.
Hivemind Capital Partners is a blockchain-focused investment business. It specializes in the fields of cryptocurrency, blockchain, and financial services. Hivemind Capital Partners was founded in 2021 and headquartered in New York, United States.
Meanwhile, JPMorgan Chase is another bank making forays into the metaverse, having created a virtual lounge in the Decentraland metaverse in order to capitalize on a $1 trillion market potential, according to the bank.
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware.
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