Koine featured in Global Custodian
Koine Chairman and CEO Hugh Hughes comments to Global Custodian on why custodian banks are losing talent to fintechs, digital asset firms and more flexible start-up cultures.
A featured in the Spring edition of Global Custodian.
Société Générale’s former securities services chief executive, Hugh Hughes, switched custody banking for digital assets when he joined Koine in 2018. As CEO and chairman of Koine, he has assembled a team of experienced securities services professionals from the top tiers of custody banking to create a segregated, intuitional custody and settlement platform for digital assets. “Start-ups tend to attract and cultivate creativity, particularly in terms of technology,” he explains. “However, at Koine, we also ensure that this is backed up by industry professionals who have worked at the bigger firms, to ensure we’re aligned with their way of thinking. For those professionals, the main attraction is often the opportunity to disrupt the market with an impactful new business model.
“Many of the big industry players, such as BNY Mellon and State Street, are always going to attract talent – but this will often be motivated by pay rather than the opportunity for innovation.”