Nadine Chakar was the founding Head of State Street Digital when it launched in June 2021. The new division covers cryptocurrency, central bank digital currency, blockchain, and tokenization with digital asset custody as one of its primary offerings. Yesterday the news came that Chakar is departing, as first reported by Asset Servicing Times.
As an experienced executive on both technology and custody, this is a major loss for State Street, where Chakar has been for four years. Before that, she spent three years at Manulife and a large part of her career at BNY Mellon. Chakar is also an exceptional communicator, which is particularly in demand as the digital assets sector requires significant education.
The move comes at a critical juncture on multiple fronts. On the one hand, State Street is getting ready to launch its digital assets offering next year. At SIBOS, Chakar spoke about the ‘incredible demand’ from clients in the US and worldwide, which is one of those nice problems to have.
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