Copper has become the latest crypto firm to bolster its compliance team, appointing finance veteran Tim Neill as its new chief risk officer.
Neill joins the crypto custody provider with over 20 years of experience in risk management roles.
He was until recently Chief Risk Officer at Mastercard and held senior roles at the London Stock Exchange Group, where he was responsible for the operations and technology risk group, Standard Chartered, where he was responsible for global services operations. , and Deutsche Bank, where he was Global Head of Incident Management.
Crypto firms like Copper are racing to improve their risk and compliance capabilities, ahead of what is expected to be a regulatory crackdown in the coming years.
In April, Binance poached high-level regulators from the Financial Conduct Authority and the Financial Industry Regulatory Authority.
LILY Binance Hires New Compliance Officer for US Branch
Last year, recruiter Hamlyn Williams said he conducted 18 searches for compliance officers for fintech and cryptocurrency companies in 2021, compared to seven in 2020, reported the Wall Street Journal.
Copper hired former Chancellor Philip Hammond in an advisory role in October 2021. In the US, Electric Capital, a crypto venture capital firm, recently appointed former Securities and Exchange Commission Chairman Jay Clayton as an advisor. .
Copper is expected to announce the close of a funding round of approximately $500 million in the coming weeks, which includes Barclays as an investor, according to a Sky News report.
Neill said this is “a critical time for risk and compliance in the crypto asset ecosystem.”
“I look forward to applying my digital financial security management experience at Copper to help ensure that institutional investors and asset managers can continue to transact and store cryptocurrencies seamlessly and securely. .”
To contact the author of this story with comments or news, email Alex Daniel