Crypto bank paying $475,000 is now hiring in London

Galaxy Digital, the crypto-focused investment bank, is expanding its presence in London. It hired a new Head of Institutional Sales for Europe and a new Head of Compliance and Regulatory Affairs.

Gavin Phillips, formerly Head of Commercial Sales for Europe at Jefferies, has joined Galaxy Digital’s London office as Head of Institutional Sales for Europe. Alexander Royle, a former FCA supervisor and chief compliance officer at Montis Digital, a digital asset processor, has also arrived as chief compliance officer for regulatory affairs in Europe.

Galaxy Digital grew its workforce by more than 130% last year to more than 510 people. The bank has had an office in London since 2018, but was approved by the FCA in November 2021, so it will likely strengthen its presence locally.

Phillips, who left Jefferies in 2016 and most recently served as a trader at King Street Capital Management and a crypto consultant, did not respond to a request for comment on his new role. Formed by hedge fund manager and former Goldman Sachs partner Mike Novogratz, Galaxy Digital aspires to be the “bridge between the crypto and institutional worlds.”

Its most recent accounts, filed for the nine months ending September 30, 2021, show Galaxy Digital paid out a total of $181 million in compensation for the first nine months of last year, including stock bonuses. . Based on 510 employees, that suggests an average annual per capita compensation of $475,000.

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