Two of the most powerful women on Wall Street are joining forces.
Former Bank of America Merrill Lynch executive Sallie Krawcheck, now the CEO and cofounder of digital investment platform Ellevest, is joining the board of Digital Asset Holdings, the fintech company led by former JPMorgan executive Blythe Masters.
After leaving JPMorgan in 2014 where she head the bank’s commodities business, Masters joined Digital Asset Holdings.
The company has been developing blockchain technology for financial firms. Its investors include Citi, Goldman Sachs, Santander, Deutsche Boerse, and many more in the financial services sector.
This year, the company raised $60 million.
Here’s the full announcement:
Digital Asset Holdings, LLC, a developer of Distributed Ledger Technology for the financial services industry, today announced that industry executive and entrepreneur Sallie Krawcheck has joined its Board.
Krawcheck brings a wealth of experience to Digital Asset. She is the CEO and Co-Founder of Ellevest, a digital investment platform for women to be launched in 2016. She is also the Chair of Ellevate Network, the global professional women’s network, and Chair of the Pax Ellevate Global Women’s Index Fund, which invests in the top-rated companies in the world for advancing women.
Prior to these initiatives, Krawcheck was the CEO of Bank of America Wealth Management, which includes Merrill Lynch Wealth Management and US Trust, then the largest wealth management business in the world. She was also the CEO and Chair of Citi Global Wealth Management, responsible for Smith Barney, Citi Private Bank and Citi Investment Research. Krawcheck also served as the Chief Financial Officer for Citigroup. Krawcheck began her career as a research analyst at Sanford Bernstein; rising through the ranks to quickly become Chair and CEO. She is on the Board of Directors for 2U and the University of North Carolina investment committee.
“We are honored to have Sallie join our Board,” said Blythe Masters, CEO of Digital Asset. “She has achieved extraordinary success in her career as both an industry executive and entrepreneur, and her unique mix of experience will be a tremendous asset as we build and expand our business.”
Earlier this year, Digital Asset completed a fundraising in excess of $60 million from a range of strategic investors across the global financial ecosystem. As part of the round, Digital Asset announced that it was expanding its Board of Directors. Other Board Members include Catherine Flax, Ashwin Kumar, Sanoke Viswanathan, Mike Bodson, Blythe Masters, Donald Wilson, Sunil Hirani, and Cristóbal Conde.
“Distributed ledger technology presents a once in a generation opportunity to strengthen the financial services as a whole. Digital Asset sits at the apex of finance and technology, uniquely positioning them to realise the promise of this new innovation, and I’m delighted to be able to contribute to the firm’s next phase of success,” said Sallie Krawcheck.
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