A JPMorgan stalwart and a hedge fund manager are the latest in a growing wave of traditional financiers quitting plum posts to join a cryptocurrency gold rush.
In February Finder-backed NFT platform Balthazar hired ex-Findex financial adviser Terry Vogiatzis as chief investment offer.
Sydney-based pair Angus Crennan and Jesse Smythe recently dissolved their traditional multi-asset fund, returning a comfortable 8 per cent, to focus purely on digital assets through a new fund called Balmoral Digital.Mr Crennan has global experience, most notably as portfolio manager within Swiss insurance company Zurich where he was responsible for $3 billion across multiple assets, as well as the APRA Responsible Person supporting the $2 billion Zurich Superannuation Fund.
“But an experienced money manager is able to look under the hood of the crypto market, segregate the different participants and find where best to exploit the inefficiencies that currently exist.”for money managers and traders. For those who use momentum as part of their strategy, crypto assets can swing wildly within a day, and for those with fundamental training, Mr Crennan said crypto assets could be thought of as a commodity or infrastructure.
But beyond the proprietary trading desks that use technology and quick thinking to find market inefficiencies lies the realm ofThis is the technical layer that underpins much of the longer-term venture capital investing that has piqued the interest of other traditional finance players.
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