A senior technologist who left Citi at the time of a round of equities cuts in March has resurfaced at a crypto firm.
Michael Zimberg, the former global head of product development for Citi's prime brokerage business, has joined Digital Asset Research as chief technology officer.
Digital Asset Research provides crypto and market data to institutional investors, and was founded by Montreal-based Kevin Delli Colli in 2019. Zimberg is only the 9th hire according to LinkedIn, and seems to be the only one with a background at a major bank.
Zimberg's switch to a crypto company comes amidst a wave of hiring at crypto exchanges and platforms. Coinbase, for example, has nearly 200 jobs open globally and says that it expects to "meaningfully" increase headcount this year. Last time we looked, Binance was advertising 350 roles.
Aziz McMahon quit Goldman Sachs last week after apparently making millions on Dogecoin. Benoit Bosc, a former Goldman Sachs oil trader who left in April to become managing director of sales and structuring at GSR, an institutional market maker for digital assets, said Crypto simply seemed to offer better growth potential than a conventional finance career. "Derivatives are larger than the cash market in every other asset class, so I see an insane growth opportunity there," Bosc told us.
Zimberg presumably feels the same. Leaving Citigroup may have been an excellent career move.
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