As per the latest Binance news update received on September 6, the world’s largest digital asset platform has hired Wei Zhou as its Chief Financial Officer (CFO). Zhou who is an experienced capital markets specialist will be heading the Binance finance team and will also be responsible for the management of financial risks.
Wei Zhou, who holds a Bachelor of Economics and East Asian studies degree from the Harvard University, began his career in Goldman Sachs, Hong Kong. Zhou worked there for four years in the role of a specialist in the investment banking division till 2015. The major part of Zhou’s professional experience pertains to successful Initial Public Offerings (IPOs) of two of his earlier employers.
As gathered from the Binance news update, Zhou led the IPOs of both Zhaopin Limited and Charm communication on the NASDAQ and New York Stock Exchange (NYSE) respectively. Zhou was the CFO of Zhaopin Limited, a Chinese online recruitment platform and Charm communication, one of the country’s leading advertisement companies.
Changpeng Zhao, Binance CEO has denied any plans of going public despite Zhou’s IPO skills. Zhou was hired around the time when one of Binance’s key competitors, US Robinhood is apparently preparing for an IPO and is actively seeking for a CFO, as stated in the Cryptovest news report.
Zhou is one of the latest examples of managers who belonged to the traditional financial system and later moved on to the blockchain and crypto world. Japanese cryptocurrency startup, FXcoin hired Yasuo Matsuda, earlier this week. Matsuda is an ex-Deutsche Bank dealer where he worked as the bank’s virtual coin strategist.
Other than this latest Binance news update, the Coinbase exchange also announced towards the end of last month that it has hired an alumnus of Bank of New York Mellon, Jeff Horowitz. Horowitz was hired to lead Coinbase’s global compliance efforts. Horowitz earlier worked as the global head of compliance and managing director of Pershing, a subsidiary of the firm, as stated in the CCN report.