Anchorage Digital Welcomes Former Goldman Sachs Executive to Board of Directors

Anchorage Digital Welcomes Former Goldman Sachs Executive to Board of Directors


Sujha Sundararajan
Published:
June 14, 2024 01:28 EDT
|
1 min read


Anchorage Digital, an institutional crypto custody platform, has officially 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 press release. Her expertise in banking regulation and compliance will provide a valuable perspective to the board.
Currently, Shoemaker holds the positions of COO and CFO at Bridgewater Associates Holdings, the parent company of Bridgewater Associates.
Nathan McCauley, President of Anchorage Digital Bank, expressed his excitement about Shoemaker joining the board, stating, “Adding a seasoned leader like Connie to the board of Anchorage Digital Bank is a testament to our 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 for institutional clients looking to expand their digital asset trading.
Shoemaker’s previous role at Goldman Sachs involved leading the firm’s strategy function globally and driving growth in the asset management business, according to the statement.
Commenting on her new role, Shoemaker said, “I have witnessed remarkable growth at Anchorage Digital. 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 institution Anchorage Digital is attracting.”
Anchorage’s Workforce Reduction in 2023
In June of last year, the crypto custody firm, Anchorage, made the decision to lay off 75 employees, approximately 20% of its workforce, citing regulatory uncertainties as the reason.
Based in San Francisco, Anchorage has also encountered challenges with US regulators. The Office of the Comptroller of the Currency raised concerns in 2022 about the bank’s compliance program, highlighting deficiencies in staff, internal processes, and anti-money laundering controls.
At that time, the authority criticized the bank for failing to implement crucial controls to prevent money laundering and report suspicious activities.
Follow Us on Google News