Saturday, July 31, 2021

Former JPMorgan exec joins Ripple’s board

Sandie O’Connor, the previous chief regulatory affairs officer at banking big JPMorgan Chase, is becoming a member of Ripple’s board of administrators.

In line with a Ripple weblog submit published yesterday, O’Connor will “present counsel on key authorities relations and regulatory initiatives” as a part of her position on the board. O’Connor labored at JPMorgan for 31 years, serving as chief regulatory affairs officer and treasurer for the financial institution earlier than retiring in 2019. She has been a systemic decision advisory committee member for the Federal Deposit Insurance coverage Company, or FDIC, since July.

CEO Brad Garlinghouse stated O’Connor’s “in depth community and in-depth understanding of markets, capital flows and banking” would assist Ripple construct “a extra inclusive monetary system.”

“The U.S. wants a single clear regulatory framework for crypto that ranges the taking part in discipline and helps American innovation and firms,” stated Garlinghouse, stating the addition of O’Connor could assist the agency towards this path.

Garlinghouse and Ripple’s co-founder Chris Larsen have each beforehand said the shortage of regulatory readability from the USA could drive the agency to maneuver its headquarters from San Francisco to a different nation. Ripple opened a regional office in Dubai final month and a board member has stated Japan will be the “most promising candidate” for the corporate’s new headquarters.