Brandon Mulvihill and Anthony Mazzarese, who were two of the top executives with Jefferies, have parted with the New York-headquartered investment bank to launch a business in the institutional digital asset space.
Mulvihill was the Managing Director and Global Head of FX Prime Brokerage at Jefferies, whereas his now-business partner Mazzarese worked as the Global Head of FXPB Distribution in the same company. Both of them stepped down from their positions earlier this month after working there for five years.
“After 5 years of building a fantastic FX Prime Brokerage business with an all-star team and loyal customer base, Friday marked my last day at Jefferies,” Mazzarese wrote in a Linkedin post.
“After 18 years of working in FX, I am excited to enter crypto as I fully believe cryptocurrencies and blockchain technology will transform traditional financial markets.”
Mulvihill added: “Since originally examining crypto NDF(s) in 2018, Anthony and I have been overwhelmingly inspired by the innovation and growth within the industry, as well as the challenges the industry faces due to such growth.”
However, the details of their new crypto business are not known yet. They only told Finance Magnates that their aim is to bridge the gap between traditional financial services and digital assets through a combination of industrial-grade technology, trade flow expertise and attractive commercial terms.
Mulvihill and Mazzarese are in the process of building a team and securing funding. They will be making a series of announcements in the coming weeks.
Extensive Experience
Both of them have extensive experience working in the institutional forex trading industry. Before, Mulvihill was with FXCM, which is now owned by Jefferies, working as Managing Director and Global Head of FXCM Pro for 12 years.
Furthermore, Mazzarese worked at FXCM but for less than two years in its Institutional forex and CFDs division. He had a previous five-year tenure with FXCM as well. In between his two FXCM stints, he worked at Citi for more than five years and headed its FX Margin Sales in the Americas.
