- The world’s largest broker-dealer is adding to its digital assets division.
- TP ICAP hired Hina Sattar as director of digital asset sales.
The world’s biggest interdealer broker, TP ICAP, has hired a former Goldman Sachs and JPMorgan trader as director of digital asset sales.
The London-based firm, with offices across 28 different countries, has been quietly building out its digital assets offering over the past year. Its latest move sees Hina Sattar join from Skolem Technologies, a trading execution firm that aims to onboard institutional firms to decentralised finance.
“Hina, a dynamic sales leader, joins the TP ICAP Digital Assets team with a wealth of experience from traditional markets,” Duncan Trenholme, co-head of digital assets at TP ICAP, said in a LinkedIn post.
Before joining Skolem in November 2022 — and after a short stint at Genesis in the summer of 2022 — Sattar worked at Goldman Sachs and JPMorgan. She was most recently vice president of futures electronic sales trading at Goldman before her departure in June 2022.
“She will lead on our growth strategy as we expand our footprint within this new market,” Trenholme said.
Sattar is just the latest example of a growing trend – experienced employees deciding to leave crypto and opting to return to traditional finance.
Institutional players such as BlackRock and Fidelity are ramping up efforts to expand crypto services to a broader range of consumers.
With that growing interest comes a need for more experienced hires with crypto and traditional finance expertise. While crypto firms are seeing talent head out the door, it’s not necessarily news, at least according to crypto market maker Wintermute’s co-founder.
“It’s good and bad,” said Yoann Turpin. “It’s bad because we lose some good talent here and there. But it’s really good because now, we have champions on the other side — who know the company, the good culture that we have — who can then champion us at banks and so on in terms of just familiarising those institutions with crypto as well.”
The interdealer broker, which facilitates transactions between firms like banks and other financial institutions, continues to develop its digital asset offering. Its electronic digital asset exchange, Fusion Digital Assets, launched early this year for a small number of clients.
The exchange is registered with the Financial Conduct Authority in the UK.
Adam Morgan McCarthy is DL News’ London-based Markets Correspondent. Got a tip? Reach out at adam@dlnews.com.