Wells Fargo and Morgan Stanley latest to lose business executives to crypto challengers

Morgan Stanley’s global head of macro e-commerce, Thomas Restout, joined digital asset liquidity provider B2C2 as the new EMEA CEO this week, the latest senior executive to join the crypto exodus.

Restout, who will report to B2C2 Group CEO Phillip Gillespie, has a long history in digital assets, including as a member of Morgan Stanley’s Securities Digital Currencies Task Force and driving crypto adoption. trading within the bond division of the bank. . He was previously at Goldman Sachs and started his career at Natixis.

“The phenomenal growth of crypto assets over the past few years shows its acceptance as an established asset class, attracting a growing array of institutional participants. B2C2 is a high performing and strategic innovator in this market. I am excited to join the team to help accelerate expansion by further expanding the offering, leveraging technology and quantitative approaches,” said Restout.

“Institutional interest in cryptocurrencies is driving more TradFi participants to commit significant resources to understanding, producing and marketing digital markets,” Gillespie added. “B2C2 has become one of the leaders of this convergence. Our appointment of Thomas adds additional and complementary market knowledge, risk management and product innovation expertise to B2C2. I am delighted to welcome Thomas to B2C2.

In other news, Wells Fargo also recently lost its head of e-sales and commerce, Peter Eliades, who left in August to join Floating Point Group, the leading crypto brokerage, as global head of distribution. Eliade, who also held the role of head of Americas trading for JP Morgan for more than 10 years between 2008-18, will be responsible for sales and business development in the United States and Asia-Pacific, reporting to co-founder Kevin March.

“Peter has built world-class e-commerce businesses for decades and understands the role crypto will play in shaping the future of global financial systems. Peter’s arrival is a game-changing moment for our team, as we we continue to see demand for the best institutional offerings from our customers and potential participants,” said John Peurifoy, co-founder and CEO of Floating Point.