Investment banker and former chief operating officer at Goldman Sachs has joined a startup that uses blockchain technology for transparent and secure data sharing in financial services.
Gary Cohn, who most recently served as director of the US National Economic Council and also chief economic advisor to President Donald Trump, has joined the board of advisors at the company known as Spring Labs.
He also previously spent 25 years at Goldman Sachs in various senior management positions, including global co-head of equities, and fixed income, currencies and commodities.
“I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others,” Cohn commented. “I am excited to actively support the Spring Labs team in the development of this important business and network.”
Spring Labs uses a blockchain-based network that allows participant to exchange information without sharing the underlying source data. The firm said that its service will help financial organisations create a more efficient and transparent ecosystem for sharing data.
“[Cohn] brings a wealth of experience in understanding the complexities of the global financial markets and an unparalleled network,” added Adam Jiwan, chairman and CEO of Spring Labs.
“We’re beyond excited to work with him to execute on our vision to transform how information and data are shared globally across a host of major industries. We’re also looking forward to making some public announcements regarding the development of the network and partnerships in the coming months.”
Cohn joins several other well-known advisors at Spring Labs, including Sheila Bair, the former chair of the Federal Deposit Insurance Corporation (FDIC), Brian Brookers, chief legal officer at Coinbase, and Nigel Morris, co-founder of Capital One.