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In the announcement, the new Ripple executive commented on her new role in the company. She expressed her pleasure to work with Ripple on regulatory policies.
A former executive at American multinational investment bank JPMorgan Chase & Co (NYSE: JPM), Sandie O’Connor, joined the board of directors at Ripple. On the 14th of December, Ripple announced the new board member, O’Connor, who was a chief regulatory affairs officer of the banking giant.
According to the announcement, payment protocol Ripple announced that O’Connor would add value to the company with her 30 years of leadership and expertise in finance, treasury and capital markets, and regulatory affairs. The announcement stated that O’Connor would “provide counsel on key government relations and regulatory initiatives” as Ripple extends its network globally. The new executive would also help the payment protocol amid its ongoing effort for regulatory clarity in the US.
Speaking on the values O’Connor is poised to add to Ripple, the company’s CEO Brad Garlinghouse noted in the announcement:
“Sandie is extremely well-respected by her peers on Wall Street and the regulatory community alike. Her extensive network and in-depth understanding of markets, capital flows and banking will provide valuable and unique insights as new policies and regulations take shape across the US.”
The CEO added that the US government needs to provide a favorable regulatory framework for digital assets across the region. Garlinghouse said that the US needs regulations that will encourage new businesses and support existing companies.
Notably, Ripple has been considering relocating outside the US amid regulatory unclarity by the government. In October, Ripple CEO revealed that the blockchain payment protocol may move to Japan. Also, Garlinghouse said Ripple may also choose either UK, Singapore, UAE, or Switzerland as its new destination.
According to Garlinghouse, the US government has not decided whether digital assets are currencies, properties, securities, or commodities. At the time, Garlinghouse also noted that the company may most likely move to Japan as the country has a regulatory framework for a healthy market to grow.
Ripple New Executive: Sandie O’Connor from JPMorgan
Before O’Connor resigned from her role as JPMorgan’s chief regulatory affairs officer, she managed the company’s regulatory strategy. She also supervised evolving regulation with G-20 regulators and policymakers.
Since O’Connor joined JPMorgan in 1988 until she retired 30 years later, she occupied several top positions. She served as the global head treasurer and head of prime services. She also belonged to the Risk and Capital committee.
Currently, O’Connor is a board member at manufacturing company Terex Corporation (NYSE: TEX). In addition, O’Connor has been the chair of the board of directors of YMCA of Greater New York since July 2019. She is also on a Task Force on Financial Stability and Advisory Committees for the Office of Financial Research and FDIC Systemic Resolution.
In the announcement, the new Ripple executive also commented on her new role in the company. She expressed her pleasure with working with Ripple on regulatory policies.