Anchorage Digital Bank Welcomes Former Goldman Sachs Executive to Board of Directors

Anchorage Digital Bank Welcomes Former Goldman Sachs Executive to Board of Directors


By Sujha Sundararajan
Updated on June 14, 2024, at 01:28 EDT
| Reading Time: 1 min


Anchorage Digital Bank, an institutional crypto custody platform, has appointed Connie Shoemaker, a former executive at Goldman Sachs, to its board of directors.
Shoemaker, who previously served as the Chief Administrative Officer at Goldman Sachs, will be joining the current independent board members, the company announced in a statement. Her expertise in banking regulation and compliance will provide a valuable perspective, the statement noted.
Currently, Shoemaker holds the positions of COO and CFO at Bridgewater Associates Holdings, the parent company of Bridgewater.
Nathan McCauley, President of Anchorage Digital Bank, stated, “Adding a seasoned leader like Connie to the board of Anchorage Digital Bank is part of our ongoing commitment to offering the best-regulated services for institutions involved in the crypto space.”
Anchorage Digital Bank, a federally chartered bank with a focus on crypto, specializes in trust and custodial services. Recently, the bank launched a crypto settlement network to cater to institutional clients interested in digital asset trading.
Shoemaker’s experience includes leading Goldman’s global strategy function and expanding the firm’s asset management business.
“I have witnessed remarkable growth at Anchorage. I am thrilled to join the Board of Anchorage Digital Bank and contribute to its continued success, drawing on my experience in building a bank similar to the type of institution that Anchorage Digital is attracting,” Shoemaker commented.
Anchorage Digital Bank Downsized 20% of Workforce in 2023
Last year, the crypto custody bank laid off 75 employees, approximately 20% of its staff, due to regulatory uncertainties.
Based in San Francisco, Anchorage Digital Bank has encountered challenges with US regulators. In 2022, the Office of the Comptroller of the Currency criticized the bank for its compliance program deficiencies, including inadequate staff and internal processes for anti-money laundering controls.
At that time, the regulatory body also pointed out the bank’s failure to implement necessary controls to prevent money laundering and report suspicious activities.
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