The institutional business arm of crypto-asset broker Voyager Digital has appointed a former Deutsche Bank managing director in the run-up to its product launch in Q4.
Glenn Barber has joined Voyager Institutional as the firm’s chief institutional officer (CIO) as it prepares to commence the rollout of its product offering for traditional buy-side firms, hedge funds, brokerages and market makers, among other professional investors.
The hire of Barber as Voyager Institutional CIO has been timed to coincide with the launch of the new arm of the business and to capitalise on his previous experience in the investment banking space as demand grows for new crypto-asset trading tools.
He was most recently managing director of equities and co-head of the New York-based global program sales desk at Deutsche Bank, and held previous positions as managing director, equities at Barclays Capital and a managing director at Lehman Brothers.
Voyager Digital is currently focused on the launch of its retail offering, which will comprise a commission-free mobile trading application for retail investors which includes delivery of best execution via smart order routing technology.
Stephen Ehrlich, CEO of Voyager, commented that the firm has always planned to launch a crypto trading product for the institutional buy-side market based on its existing technology infrastructure as part of its long-term strategy.
“Based on the sheer number of conversations since we announced our retail offering, it’s clear that there is a void in the marketplace and an immediate desire by institutions to participate in and offer their clients access to this emerging asset class without the significant resources, costs and time that would be required to develop an in-house solution,” Ehrlich said.