Anchorage Digital Bank, a crypto custody firm, has appointed Connie Shoemaker, a former executive at Goldman Sachs, to its board of directors. Shoemaker currently holds the position of COO and CFO at Bridgewater Associates Holdings, the parent company of the world’s largest hedge fund, Bridgewater Associates.
Anchorage Digital Bank stands out as the only crypto bank with a charter from the Office of the Comptroller of the Currency (OCC). While other institutions like Paxos and Protego have tried to obtain a full charter from the OCC, they have not been able to move past the provisional charter stage. The recent approval of spot Bitcoin exchange-traded funds (ETFs) has led to increased institutional interest in crypto, resulting in growth for Anchorage Digital Bank.
In response to the rising institutional demand for secure and regulated digital asset infrastructure, Anchorage Digital Bank has expanded its board of directors. According to a company spokesperson, the addition of Connie Shoemaker to the board is a strategic move to leverage her expertise in the traditional finance world. Nathan McCauley, the co-founder and CEO of Anchorage Digital Bank, believes that Shoemaker’s experience in building the commercial bank division at Goldman Sachs will be beneficial for the company’s growth.
Shoemaker’s background includes serving as Goldman Sachs’ global head of strategy during the 2008 global financial crisis, where she played a key role in the growth of Goldman Sachs Asset Management (GSAM). She later served as the Chief Administrative Officer of Goldman Sachs Bank USA.
The appointment of Connie Shoemaker to Anchorage Digital Bank’s board of directors demonstrates the company’s commitment to enhancing the institutional ecosystem with its federally regulated services. The addition of Shoemaker, with her extensive experience in the traditional financial sector, is expected to bring valuable insights and strategic guidance to the company as it continues to expand its presence in the crypto industry.