Goldman Sachs traders are joining Genesis, the digital prime brokerage firm.
Genesis has been quietly expanding globally, and at least two London traders have opted to join.
Ashley Senior, a former vice president covering options sales to hedge fund and real money accounts, joined Genesis in September as a VP in London. Konrad Laesser, a former executive director at Goldman Sachs in London, joined Genesis as the EMEA head of institutional sales. Laesser left Goldman earlier this year and spent a small amount of time working for a Brazilian brokerage before joining Genesis.
As hedge funds push into crypto trading, crypto prime brokerage is becoming a thing. Coinbase has also been building a crypto prime broking team in London, and has been shopping for staff among associates in investment banks.
Goldman Sachs isn't Genesis' only source of staff. In the past six months it's also hired Francois Lamy from the London stock exchange as its New York-based director of strategy and product innovation; Sean Lynch from BAML as a London-based trader; and Leroy Lin from JPMorgan in Singapore. Further hires are likely.
Chris Perkins, Citi's ex- global co-head of futures, clearing and FX prime brokerage (who's gone to Coinfund) told us last week that banks are full of crypto evangelists. "There are a lot of true crypto believers sitting in banks right now. They tolerate their day jobs to race home at night at and weekends to play the crypto space," Perkins told us.
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