CoinShares, a digital asset manager in Europe, announced changes to its executive team. Group General Counsel Graeme Dickson stepped down from his role. CoinShares' leadership team is now focused on finding a suitable replacement to steer the legal department during the transition period.
Changes in the Executive Management Committee
Dickson, who served as Group General Counsel, has reportedly exited the firm to pursue other career opportunities. His departure is effective immediately, and he will no longer be part of the company's Executive Management Committee.
The resignation comes at a crucial time for CoinShares, which has been expanding its operations in the alternative asset management space. The company offers a range of financial services across digital assets, targeting corporations, financial institutions, and individual investors.
CoinShares operates across several regions, including Jersey, France, Sweden, the UK, and the US, making this a crucial leadership role. The new appointee will need to navigate the complexities of regulatory requirements in these jurisdictions, where CoinShares is regulated by multiple financial authorities, including the Jersey Financial Services Commission and the US Securities and Exchange Commission.
Last month, CoinShares announced its financial results for the second quarter, highlighting an improvement from the previous quarter. The firm declared a special dividend after successfully recovering assets from the collapsed FTX.
CoinShares' Financial Results
Asset management revenue was £22.5 million, more than double compared to £10.7 million posted in the same period of the previous year. Total comprehensive income rose to £25.8 million, a boost from £5.3 million in the previous year.
The company also recorded a significant expansion in the adjusted EBITDA, reaching £26.6 million compared to £11.4 million in the corresponding quarter of the previous year. However, the report noted that FlowBank's collapse negatively impacted the company's investments and affected its revenue.
Meanwhile, CoinShares International Limited rebranded its crypto ETP brand, XBT Provider, to CoinShares XBT Provider. According to the company, this initiative is part of its expansion strategy.
