Goldman Sachs partner bank reversion after crypto excursion

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It wouldn’t be fair to say that all bankers have changed their stance on crypto; some high-ranking people still move around the area. However, there are also people who seem to be done with crypto for now and they include Ronnie Wexler, a former Goldman Sachs partner.

Wexler was most recently the New York-based co-head of US equity distribution and execution at Goldman. He left the company in August 2020 to join NYDIG, a bitcoin infrastructure fintech, as Global Head of Business Development. Yesterday he returned to TradFi, in a role similar to the one he left almost three years ago – he becomes global head of equity distribution at Barclays.

While Wexler’s new global role suggests that time spent in crypto doesn’t impact the ability to land a big job in banking, the fact that it has nothing to do with crypto doesn’t is not a great advertisement for the future of the sector.

Wexler isn’t the only person leaving NYDIG either. Various hires made over the past few years have moved on, and not always into more conducive roles. Stefan Dullinger joined NYDIG from Morgan Stanley, where he was a partner, and left to become a Nomura partner.

Former NYDIG technologists fared better. Ian Fitzgerald joined NYDIG from Capital One where he was an anti-money laundering data engineer. He left in January to become a data engineer at the Balyasny hedge fund, working in their commodities division.

Perhaps the shortest stint in fintech belongs to Alex Stelmachonak. He left his role as a test automation architect at Millennium to join NYDIG and just eight months later left for Citi. He was appointed chief architect of their test automation engineering platform.

However, not all NYDIG alumni have walked away from crypto. Rob Trefz Williams worked on platform solutions for the company for over a year and was named Director of Product Strategy for the digital assets arm of Fidelity Investments. Crypto trader Patrick Liou remained in a native crypto business, joining Gemini in March.

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