Blockchain for Banking News

UK Finance Chair joins board of enterprise blockchain firm R3

r3 Bob Wigley

Today, enterprise blockchain firm R3 announced that Bob Wigley was appointed as non executive director in October 2023. On his LinkedIn profile, he describes himself as an investor. Wigley has been the Chair of the industry body UK Finance for the past six years. He’s also the former Chair of Merill Lynch Europe and has extensive relevant experience.

Last year UK Finance called for government support in adopting tokenized securities. Now the UK Digital Securities Sandbox is already live. At the time, UK Finance also published a report outlining the path for the UK to becoming a leader.

Additionally, in conjunction with UK Finance, EY is coordinating the UK arm of the Regulated Liability Network. That initiative aims to support bank-based tokenized deposits. It has yet to decide on a technology.

“I’m delighted to join R3 at a time when R3 Digital Markets is transforming the way global financial markets operate,” said Wigley. “R3 is the catalyst behind pioneering CBDC and other real financial asset tokenization projects, and I look forward to working with the team and its customers to continue driving adoption in new geographies and asset classes.”

Apart from his role at UK Finance, Wigley was an advisor to for three years. He was also the Founding Commissioner of the Blockchain Commission for Sustainable Development, which advises governments. Additionally, he is an Honorary Fellow at Judge Business School within Cambridge University’s Centre for Alternative Finance.

“His insight and strong industry connections will be an invaluable addition to our board, at a time when R3 is working with financial institutions and FMIs to digitise global markets,” said R3’s CEO David Rutter. 

Wigley spent a 13 year stint at Merrill Lynch through to 2009, including as Chairman of EMEA. During that period, he was also a Member of the Court at the Bank of England, a non executive director at the LSEG’s LCH Clearnet, and a non executive director at Euroclear. He’s held numerous other board and advisory positions, including Chairman of Victoria Beckham for just over a year. More recently he co-chaired the Cross Market Operational Resilience Group at the Bank of England for a year.

Image Copyright: R3