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Morgan Stanley Hires Ex-Credit Suisse Banker to Run Digital Assets Department

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Wed, 1/08/2018 - 15:06
Morgan Stanley Hires Ex-Credit Suisse Banker to Run Digital Assets Department
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These days, cryptocurrencies are becoming more and more popular that either crypto startups hire former workers of large banks or large banks set up markets for crypto trading and…hire former employees of large banks. Morgan Stanley seems to be following the trend.

New head of digital assets market

Having given 12 years to Credit Suisse banks trading derivatives and being an expert on Bitcoin and other digital assets, Andrew Peel has joined Morgan Stanley to run crypto operations in London and Zurich.

Since Peel claims that he has been supporting digital coins since 2013, such a person in charge of the virtual assets market will probably get institutional investors interested.

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Banks joining the crypto party

Since James Gorman, the Morgan Stanley CEO, stated in January that Bitcoin is not going anywhere, this appointment of Peel seems quite timely since now large institutional investors are showing increasing interest in crypto coins and distributed ledger technology.

Recently, Goldman Sachs has also got itself a CEO, David Solomon, that supports crypto assets and believes the bank should help its clients explore the crypto sphere if they themselves want it.

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