It’s a sweaty sort of a time to be a senior fixed income salesperson in an investment bank. Goldman Sachs has been retiring various of its senior fixed income salespeople and quietly parting company with others. Meanwhile, Deutsche Bank is said to be prepping a round of fixed income sales redundancies in London after parting company with Chris Yoshida, its former head of rates sales, in February.
The good news, however, is that Yoshida has already found a new job.
Less than one month after leaving Deutsche, Yoshida has a new role as a director of Cryex Group, a Swiss-based digital currency exchange.
In a press release issued last year, Cryex describes itself as a ‘new digital currency trading and clearing platform’ which ‘operates a European members-only marketplace for trading FX, including digital currencies like bitcoin and other crypto currencies enabling regulated market participants to trade a suite of spot products – and eventually derivative products − in a highly secure and regulated environment.’
Yoshida’s precise function on the board of directors of Cryex is unclear. However, with 11 years of fixed income sales experience at Morgan Stanley and Deutsche, he has ample experience working with regulated market participants and the potential to increase Cryex’s client base just as crypto currencies are the next big thing.
Yoshida isn’t the first senior markets professional to leave for banking for Blockchain and Bitcoin. – Blythe Masters has already blazed this path from J.P. Morgan. If you’re a long-serving fixed income client person, maybe this is the exit opportunity you’ve been looking for.
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