Digital assets custody firm hires former Morgan Stanley exec as CFO

A firm which aims to be the go-to digital asset securities custody platform has hired a Wall Street veteran as its chief financial officer.

Former Morgan Stanley executive director of regulatory policy Albert P. Meo becomes CFO of Prometheum Inc., a firm founded in 2017 by a group of Wall Street attorneys to offer an end-to-end, blockchain-enabled ecosystem for the trading, clearance, settlement and custody of digital asset securities.

Meo has wide experience of the financial industry, including roles at Goldman Sachs and Nomura, and has in-depth knowledge of regulatory compliance and risk management. He will oversee financial planning, reporting, and liquidity risk management for the firm.

“It’s an exciting juncture in Prometheum’s trajectory to be joining the firm. The company’s commitments to compliance and innovation are perfectly suited for my professional values and skills alike. I look forward to contributing to the success of Prometheum in the dynamic digital asset landscape,” Meo said in a statement..  

APPROVED PLATFORM

Prometheum subsidiary Prometheum Capital is a SEC-registered special purpose broker-dealer and a member of Finra, and approved to operate to provide custodial, clearing, and settlement services for digital asset securities. It became the first to be regulated under federal securities law rather than at state level or through international approvals.

“Prometheum’s ability to now clear and settle under federal securities laws and our subsequent launch is a clear representation of the maturation of the digital asset industry,” Prometheum Inc. Co-CEO Aaron Kaplan said. “We are seeing a turning of the page towards greater investor protections and federal oversight of markets, and Prometheum is excited to stand at the forefront of this next chapter.”

The firm’s platform is due to start offering services to institutional clients including asset management firms, hedge funds, RIAs, and financial institutions during the current quarter.