Bitcoin Suisse Cuts Staff and Revamps Management
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A refocus on the core business results in a management reshuffling at the crypto finance service provider. There are also two departures to report.
Bitcoin Suisse is changing its management structure in three areas. Sven Ramspott takes over as chief financial officer (CFO), adding to his current risk officer responsibilities. Pierre-Alain Krohn takes over as head of compliance, and Michael Gauckler, currently head of innovation, will be appointed responsible for products.
According to a statement Wednesday, the appointments are related to the reorganization of Switzerland’s largest crypto broker, which accompanies a reduction in staff.
The austerity measure is justified by the stock market slump hitting traditional financial and crypto markets simultaneously and lasting longer than expected. Still, the layoffs are well below the average currently seen in the crypto industry.
Ramspott, with over 25 years of experience in leadership roles in the financial industry, joined Bitcoin Suisse in September 2021. In his previous role as chief risk officer and head of risk & compliance, he developed frameworks for compliance and, in particular, anti-money. In doing so, he laid a key foundation for the strategic direction of Bitcoin Suisse, according to the statement.
Krohn spent five years in a leadership role at JP Morgan in Geneva, where he was responsible for anti-money laundering, governance, and controls, before joining Bitcoin Suisse.
Gauckler joined Bitcoin Suisse as head of product development & innovation in September 2020. He has 20 years of experience, including as co-founder of Evolute Group, and at Credit Suisse and PwC.
With a refocusing on core markets, there will also be two departures. Mauro Casellini, CEO of Bitcoin Suisse Liechtenstein, is taking on a new challenge. The Liechtenstein, Denmark, and Bratislava locations now fall under the aegis of Chief Operating Officer Peter Camenzind, according to reports.
Current CFO Philipp Vonmoos hands over his responsibility to Ramspott at the beginning of February. Vonmoos joined the company in 2017, first leading the custody business and then the finance division. Most recently, he supported the introduction of the new crypto-compatible core banking system.
According to Chairman Luzius Meisser, Bitcoin Suisse intends to continue its growth in the institutional sector despite the significant market corrections of the past year. Bitcoin courses online.
Questions & Answers
Q.Why is Bitcoin Suisse making changes to its management and staff?
Why is Bitcoin Suisse making changes to its management and staff?
The changes are due to a refocus on the core business and a reduction in staff. This austerity measure is justified by the stock market slump hitting traditional and crypto markets, which has lasted longer than expected.
Q.What new roles have been assigned as part of the management reshuffle?
What new roles have been assigned as part of the management reshuffle?
Sven Ramspott is now the CFO, adding to his current risk officer responsibilities. Pierre-Alain Krohn has taken over as head of compliance, and Michael Gauckler will be responsible for products.
Q.Which executives are departing from Bitcoin Suisse?
Which executives are departing from Bitcoin Suisse?
Mauro Casellini, CEO of Bitcoin Suisse Liechtenstein, is taking on a new challenge. Current CFO Philipp Vonmoos is also leaving, handing over his responsibility to Sven Ramspott in early February.
Q.Despite market corrections, what is Bitcoin Suisse's future growth strategy?
Despite market corrections, what is Bitcoin Suisse's future growth strategy?
Chairman Luzius Meisser stated that Bitcoin Suisse intends to continue its growth in the institutional sector. This is despite the significant market corrections experienced over the past year.
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