Fidelity Investments Searches for a Fund Manager to Run Cryptocurrency-Related Arm

June 10, 2018

Fidelity Investments announced that its crypto-related fun is searching for a new fund manager since the two important members of the team left to start their own crypto firm. The fund manages $2.5 trillion dollars in assets and it actively invested in cryptocurrencies and other companies before these two members decided to leave.

Fidelity Seeking for Experts

The two individuals that left were a key part of the team at Fidelity. One of these members is Matt Walsh, former vice president at the company, and Nic Carter which worked as an investment researcher analyst at the firm.

Both of them decided to start a company known as Castle Island Ventures, an important crypto-focused venture capital firm.

Fidelity’s CEO, Abigail Johnson, commented:

“I’m a believer. I’m one of the few standing before you today from a large financial services company that has not given up on digital currencies.”

It is not a good moment for the company, because Walsh and Carter are not the only two members that the company lost in recent times. Other employees have been leaving because they felt that the cryptocurrency world was more interesting than the traditional financial system. 

But, Johnson is a supporter of Bitcoin and virtual currencies in general. She has been talking very positive about BTC and digital currencies in the last times, something that seemed not enough for all the individuals and experts that decided to abandon the firm.

One of the other employees that left was Ben Pousty, an important digital asset marketing lead for Fidelity Labs. After it he joined Circle another recognized crypto-related firm. Kinjal Shah, a former senior consulting analyst joined Blockchain Capital, which is a crypto venture firm. Finally, Thomas Pacchia, director at Fidelity’s crypto incubator, decided to start a new company based in New York and known as HODL Capital.

The cryptocurrency ecosystem expands in the financial world as well. But some companies need to pay very close attention to their employees. If they want to remain competitive it will be important to have the best individuals ready to work.

Image: Forbes

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