B2C2, a cryptocurrency market-maker owned by Japan’s SBI Holdings, had a change at the top role, as Thomas Restout took over as the Group CEO following the departure of Nicola White. The appointment came as an internal promotion, as Restout was previously the company's CEO of EMEA.

New Group CEO at B2C2

The company did not hint at White's departure before, as she left the role at the end of December, according to her LinkedIn profile. She joined B2C2 in July 2021 and was promoted to the apex role in November 2022. It remains unclear about her next role.

Commenting on the appointment, B2C2’s Co-Founder, Max Boonen, said: “Thomas, an early supporter of B2C2, was already a rising star when we met on the trading floor ten years ago. His stellar career in TradFi has given him a fantastic foundation to support our clients in the crypto space.”

An Early Investor Takes Over the Apex Role

Indeed, he joined B2C2 in September 2022 from Morgan Stanley, where he spent seven years and was Global Head of Macro Electronic Trading at the time of departure. In that company, he was a member of the digital currency working group and spearheaded crypto trading for the Fixed Income division.

He started his career in 2007 as an FX Trader at Natixis and later joined Goldman Sachs where he was the Executive Director of eFX Electronic Trading for EMEA.

Restout was one of the earliest investors at B2C2. He played a crucial role in the company’s growth with decisions to pursue over-the-counter (OTC) trading and expand into the Japanese market.

“B2C2’s business is stronger than ever, and I look forward to working alongside our outstanding management team to execute on our global strategy of building on our position as one of the leading liquidity providers in crypto markets,” Restout said in a statement.

B2C2 has become a big name in the crypto OTC and market-making space. It was acquired by Japanese giant SBI Holdings at the end of 2020, only five months after the conglomerate made an initial investment of $30 million in the crypto company.

“B2C2 is well placed to benefit from the growth in institutional trading of cryptocurrencies,” said Yoshitaka Kitao, the Representative Director, Chairman, President and CEO of SBI Holdings. “The company will continue to thrive as an innovator dedicated to building a resilient digital assets ecosystem, providing critical, deep liquidity to institutional clients globally.”