Alex Kriete and Greg Girasole, who led the newly-launched digital asset group for Wall Street giant Citigroup, have announced their departure.
Citi Execs Bid Adieu
Kriete’s LinkedIn posting states that the pair are all set to start their own company in the digital asset and blockchain space.
“My personal interest in and subsequent writing on blockchain-enabled assets (yes, crypto) started over five years ago. This network includes colleagues from Citi, other companies and clients. At this point, I’m taking on a new professional challenge by starting a company in this area.
He also stated that he believes digital assets are important and that the sector will continue growing to global capital markets. He said that he was excited to help “mature this market.”
Girasole, Kriete and other Citi executives had left the company in the past to pursue the digital assets realm. Matt Zhang, the former head of structured product trading, founded Hivemind, a crypto-focused investing platform that focuses on blockchain tech, crypto companies and the digital asset ecosystem.
Christopher Perkins, a Citi veteran, announced his resignation to the company. He will be joining CoinFund, a New York-based crypto-investment fund – CoinFund — as president and managing associate.
Citi’s Crypto Expansion
Citi entered crypto wealth management in June 2021, after it announced the launch of a new business unit dedicated exclusively to blockchain and cryptocurrency space.
The initiative, called “Digital Assets Group”, would be part of the wealth management division. It gave Alex Kriete, Greg Girasole the task of leading the new unit in product development and working closely with Citi’s functional partner and the wider Capital Markets team.
Citi announced five months later that it would hire 100 additional employees to expand its digital asset team. Puneet Singhvi was named the new division head to create a strategy for facilitating various internal operations such as trading, investment banking and securities services to integrate with digital assets.
The unit’s main purpose was to interact with key internal and external stakeholders, including startups and regulators.
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