Promotes Xen Baynham-Herd to COO Role

Cryptocurrency infrastructure provider has promoted its global head of strategy Xen Baynham-Herd to take on an expanded role as the company’s chief operating officer (COO).

Prior to joining the leading bitcoin wallet provider, back in 2017,  Xen was a Director at UBS, managing a structural asset portfolio and derivatives trading book. He was also a business lead and specialist for balance sheet innovation related to blockchain and distributed ledger technology (DLT). His career encompasses number of roles spanning fixed income trading, financial product structuring, asset & liability management, investment banking, balance sheet optimisation and strategy.

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“In his new role as COO, Xen will be my partner and oversee product operations, markets, operations, customer success, marketing, communications, data and talent,” said Peter Smith, co-founder and CEO at blockchain.

Meanwhile, has installed Charlie McGarraugh as its newest chief strategy officer and global head of markets. He has been with the company for more than two years, having joined in October 2018 when Blockchain acquired sports betting data firm Stratagem.

McGarraugh was CEO of Luxembourg-based Stratagem and also served as a former trader and partner at Goldman Sachs.

“Charlie has a wealth of financial markets experience and his trading and risk management expertise has been invaluable and hugely impactful. Charlie has also played a key role in driving forward our strategic partnerships, markets business, and structured products,” Smith added.

The London-based firm, an early entrant in the crypto space and one of the industry’s best-known wallet providers, has been going through employee exodus over the past few months. Most recently, it parted ways with Marco Santori, one of the influential lawyers to represent blockchain and cryptocurrency businesses, who left to join crypto exchange Kraken.

The bitcoin-services company named the controversial attorney as its president and chief legal officer in 2018, replacing co-founder Nicolas Cary. The list included Chief Operating Officer Liana Douillet Guzmán and executive vice president of finance Chris Lavery, two of the longest-serving executives at the company, having joined in 2015 and 2016.

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