Jason Leung, world head of Cumberland, the cryptocurrency-focused unit of Chicago-based shopping for and promoting massive DRW, is leaving the company.
He’ll in all probability be modified by Chris Zuehlke, beforehand chief technical officer at Cumberland, who has been employed with DRW for some 15 years.
A spokesperson for DRW Holdings knowledgeable CoinDesk:
“We are grateful to Jason for all of his work in helping us build the capabilities needed to deliver the institutional-grade experience we know counterparties in this space are looking for. We remain focused on the responsible evolution of the industry and to delivering a world-class trading experience.”
Leung’s departure follows that of Cumberland COO Bobby Cho initially of ultimate month. Cho spent better than three years serving to to assemble up DRW’s crypto shopping for and promoting desk.
Don Wilson, DRW’s founder and CEO, wrote in a letter addressed to the company’s counterparties that “change is to be expected” with any evolving market, together with:
“Today, we have another change as Jason Leung, the Global Head of Cumberland, has made the decision to leave the firm. Jason brought his deep expertise in FX to this nascent asset class, helping us take important steps towards the level of sophistication I believe Cumberland needs to offer to each of you.”
In March of 2019, Cumberland’s world head of enterprise enchancment, James Radecki, a former Goldman Sachs banker, left the company.
Earlier this 12 months, DRW upgraded to a single-dealer platform often known as Marea, allowing institutional merchants to work along with Cumberland via a screen-based interface, considerably than negotiating trades by phone or Skype.
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