Jeff Horowitz was the managing director and Chief Compliance Officer at Pershing LLC, a subsidiary of BNY Mellon. His skill set will be useful.
Coinbase Inc, America’s largest cryptocurrency exchange, hired Jeff Horowitz as Chief Compliance Officer, further expanding its footprint in the cryptocurrency world.
Horowitz was the managing director and Chief Compliance Officer at Pershing LLC, a subsidiary of BNY Mellon, where he specialized in brokerage custody and clearing settlement solutions. His skill set will be useful for Coinbase’s push into enterprise cryptocurrency solutions for institutional investors and hedge funds.
The Expansion of Coinbase Custody
Coinbase has been ramping up Coinbase Custody, a new aspect of its business designed to make the platform more appealing to traditional hedge funds and other institutional investors. The move comes with potential regulatory challenges, and security is paramount. Horowitz stated with regards to this,
For the past two decades, I’ve built global AML and fraud-prevention programs for companies like Citigroup, Goldman Sachs, and Salomon Brothers. These are precisely the type of programs that institutional investors need to see as they’re starting to see crypto as an investment opportunity.
Horowitz worked directly with regulators as Pershing’s managing director and global head of compliance where he was responsible for making sure the firm operated within the regulatory framework. But while Horowitz is an integral part of Coinbases new program, he is only one piece of the puzzle. Coinbase has also closed a series of important acquisitions such as Keystone Capital Corp and Digital Wealth. These acquisitions will help the company gain expertise and relevant technology in the broker-dealer business.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.