The US-based leading cryptocurrency exchange Coinbase has appointed Jeff Horowitz as its Chief Compliance Officer. Most recently, Jeff worked as Pershing's (a BNY Mellon company) managing director and global head of compliance, overseeing its regulatory and compliance programs. Prior to this role, Jeff was the firm’s chief compliance officer and global head of anti-money laundering (AML) and compliance programs. Asiff Hirji, President & COO, Coinbase said in a blog post:
"Adding Jeff to our team is one more important step along this journey. His experience, vision and judgment will be incredibly valuable as we continue to expand into new markets, and add new services such as Coinbase Custody and our recently announced acquisition of a licensed broker-dealer."
Coinbase recently launched four institutional products, one of which was Coinbase Custody that went Live for businesses last month. Coinbase Custody allows institutional investors to safeguard digital tokens in a manner similar to traditional securities. The launch of these institutional products, along with Jeff's hire, show how serious Coinbase is about institutional cryptocurrency adoption. Jeff was quoted as saying to Forbes:
“For the past two decades, I’ve built global AML and fraud-prevention programs for companies like Citigroup, Goldman Sachs and Salomon Brothers. “These are precisely the type of programs that institutional investors need to see as they’re starting to see crypto as an investment opportunity.”
Before joining Pershing, Jeff led various compliance and AML programs at Citigroup, Goldman Sachs, and Salomon Brothers. He previously served as a banking regulator with the Federal Deposit Insurance Corporation (FDIC), along with twice serving as a member of FinCEN’s Bank Secrecy Act Advisory Group (BSAAG). Jeff also actively helps shape regulation and industry best practices through his roles on numerous industry and regulatory committees. These include the Security Industry and Financial Markets Association’s (SIFMA) Compliance and Regulatory Policy Committee, and the Financial Industry Regulatory Authority’s (FINRA) Compliance and Advisory Committee.
With Jeff's appointment, the firm's chief legal and risk officer, Mike Lempres, will now focus his resources exclusively on leading our government relations efforts.