O’Connor will present counsel on “government relations and regulatory initiatives” for the corporate’s subsequent section as Ripple expands and seeks regulatory readability in the USA, it mentioned.
The announcement comes as San Francisco-based Ripple is brazenly considering relocating its headquarters to a different nation, citing an absence of such readability, significantly on the authorized standing of XRP, the cryptocurrency it owns massive quantities of and has a mighty hand in growing.
No matter choice the agency finally makes, O’Connor brings appreciable regulatory and risk-management chops. Throughout her time at JPMorgan, she served on a number of firm-wide governance committees together with those overseeing threat and capital. She joined JPMorgan in 1988, and through her over three-decade lengthy profession additionally “led engagement with G-20 regulators and policymakers” for the bank, Ripple mentioned. She retired from the establishment in April 2019, in line with her LinkedIn profile.
O’Connor nonetheless sits on advisory committees of the Federal Deposit Insurance coverage Corp. and the Workplace of Monetary Analysis, an unbiased bureau created throughout the Treasury Division to watch systemic dangers after the 2008 world monetary disaster.
She seems to have stuffed the seat on Ripple’s board vacated by Ken Kurson, who was arrested on cyberstalking prices in October, in line with a report by the New York Occasions. Reportedly a detailed ally of the Trump household, Kurson additionally based a crypto and blockchain information web site known as Trendy Consensus. Ripple didn’t instantly reply to a request for remark.
As soon as a prime lieutenant to JPMorgan CEO Jamie Dimon, O’Connor additionally appeared repeatedly on American Banker journal’s annual rating of essentially the most highly effective ladies in banking.
On Ripple’s board, she’s going to serve alongside former New York regulator Ben Lawsky, architect of the state’s BitLicense rules, former diplomat Anja Manuel, and monetary providers business veterans Yoshitaka Kitao and Craig Phillips, amongst others.
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