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Yes, people are still leaving banking for crypto.

HSBC's ex-head of equity sales reappears in crypto

Cryptocurrencies may not have thrived as hoped in a situation of war, but this is not preventing from more people in traditional finance from moving into the crypto sector.

Rod Turnbull, the former head of EMEA cash equities distribution at HSBC is the latest to make the move. As we reported before Christmas, Turnbull unexpected left HSBC after 16.5 years despite being promoted to managing director in February 2021. 

It now seems that this move may have been inspired by crypto-fever: Turnbull has just resurfaced as a capital markets advisory specialist at Argo Blockchain, a crypto mining firm. It's a contract role and appears to be a component of his new post-banking gig-career.

He's not the only experienced hand moving into crypto. It happens a lot, and the pace doesn't appear to be moderating. In another recent move, Bob Guzman, a former MD for client solutions at BlackRock, has just joined Kyle Downey, a former Morgan Stanley electronic trading MD at Cloudwall Capital. Guzman joins as Downey's chief product officer. 

In other crypto moves, Bella Yordanova, a VP at Goldman Sachs, has gone to Crypto.com as a senior developer. This follows various other crypto exits, including Roger Bartlett, the global co-head of operations for Goldman Sachs' global markets division, who's off to Coinbase, and the disappearance of numerous Bank of America prime brokerage professionals to Copper, the crypto custodian.

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AUTHORSarah Butcher Global Editor

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