Ripple is leading the revolution in the payment industry slowly putting the existing companies out of business. Joining this revolution is HSBC and CIT Bank’s former executive vice president, Stuart Aldertoy who has joined Ripple as General Counsel.
Aldertoy’s role would mainly include overseeing all legal services and manage the company’s global legal, policy and Bank Secrecy Act [BSA] compliance teams. Aldertoy stated:
“I am thrilled to join Ripple and work alongside this great team Brad has assembled as we find new ways to partner with leading policy makers and continue to create significant solutions for Ripple’s users and end-customers throughout the world.”
He added that blockchain technology is transforming the financial services industry and that Ripple was at the forefront for both its technology and thoughtful approach to policy.
Brad Garlinghouse said:
“As we continue to work with financial institutions and regulators across the globe to drive home the importance of fostering innovation while protecting consumers, I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart.”
Garlinghouse further stated that Ripple was in need of Aldertoy’s experience and his expertise for the overall growth of the industry.
Moreover, Aldertoy has over 30 years of experience under his sleeves as he has worked both in the regulatory and banking sectors. He was working with CIT as executive vice president, general counsel, and corporate security. and was also responsible for all legal, corporate governance and insurance risk management matters. Prior to CIT, Alerdtoy was with HSBC North America as the executive vice president and general counsel.
This is not the first time that prominent people from traditional financial/economic sectors have jumped on the Ripple ship. Ripple had recently hired former Google executive as vice president of products.
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