Gavin Wells is the new Head of Europe of
software company, Digital Asset Holdings, the company confirms.
Wells had previously been at LCH Clearnet
(LCH), where he was global head
of ForexClear. Wells joined LCH in 2008 and led the team ...
Digital Asset, a developer
of distributed ledger technology, has hired Carol Mathis as its chief financial officer (CFO).
Mathis joins from RBS
Corporate and Institutional Bank, where she was a managing director and chief
operating officer for the past three ...
It's nice to know that P&L's managing editor is not the only one who needs to get stuff off his chest, deputy editor Galen Stops has real blockchain fatigue, and it's hard not to agree with him. Is blockchain a solution looking for a problem? Well not exactly, it's a fascinating development that is probably going to have a long and lasting impact on the financial services industry, but just for now, can't we just talk about something else until something tangible happens?
The Depository Trust & Clearing Corporation (DTCC) has completed its proof-of-concept for using a distributed ledger based solution to manage the clearing and settlement of US Treasury, Agency, and Agency Mortgage-Backed repurchase agreement (repo) transactions.
Working with Digital Asset, the two companies have demonstrated the successful netting of “start” leg repo transactions with prior end-of-day net securities obligations in the DTCC environment. With Phase One now complete, DTCC and Digital Asset have progressed to Phase Two, where they will form a Stakeholder Working Group comprised of leading market participants active in the $3 trillion per day U.S. repo and related transaction market to collect independent feedback and ensure the solution is aligned with industry needs.
Distributed ledger technology (DLT) provider Digital Asset has announced that Blythe Masters, the company’s CEO since formation in 2015, has asked to step down as CEO for what the company terms "personal reasons".
AG Gangadhar, who joined the company’s board of directors in April, has been appointed the board chairman and will serve as the acting CEO until a permanent CEO is named. The frim says Masters will remain involved in the company as a board member, strategic advisor and shareholder.
Gavin Wells is leaving Digital Asset, where he has served as head of Europe, based in London. He is due to leave the firm next month, having joined in mid-2016. Wells had previously been at LCH Clearnet (LCH), where he was global head of ForexClear. He joined LCH in 2008 and led the team that designed and implemented the ForexClear service, which was launched in March 2012. Prior to LCH, Wells was at Citi, where he was a managing director in the FICC business. He spent 15 years at Citi in a variety of roles across FX trading, e-commerce and IT.