UBS’s leading blockchain researcher Alex Batlin will be joining BNY Mellon, Global Custodian understands.
A source at BNY Mellon confirmed that Batlin will be taking a role at the custodian bank but could not provide further comment.
Batlin, who has previously held roles at JP Morgan and Nomura, was responsible for UBS’s Crypto 2.0 Pathfinder programme researching blockchain technology.
Batlin’s previous roles at UBS also include group CTO for applied innovation as well as global head of CTO research services.
Batlin’s start date and job title are yet to be confirmed but the appointment may signal the custodian banks’ desire to increase its understanding of blockchain technology given the potential threat to traditional custody operations it possesses.
Blockchain technology has been hailed as the future of the industry, with potential to streamline processes such as settlement, clearing and corporate actions.
The UK’s Financial Conduct Authority’s (FCA) director of strategy Chris Woolard has confirmed the FCA is talking to a number of firms working on blockchain technology and how it will be applied to the financial services.