Galaxy Digital Welcomes David Gross
In a recent organizational shake-up, Galaxy Digital has brought aboard David Gross, a seasoned Wall Street executive, as the new head of global sales. This move, announced internally to Galaxy’s partners, underscores the firm’s ongoing efforts to ramp up its sales operations across multiple business lines.
Gross’s Impressive Background
With over 15 years at heavyweights like Credit Suisse and Lehman Brothers, Gross holds extensive experience in senior roles within global financial services. Previously, he served as global head of relationship management at Cumberland, a notable player in the cryptocurrency trading arena.
Previous Roles and Expertise
- Credit Suisse: Focused on high-profile client relationships.
- Lehman Brothers: Engaged in pivotal capacities that contributed to the firm’s financial services.
- Cumberland: Managed key relationships in a rapidly growing crypto market.
Strategic Goals at Galaxy Digital
In his new capacity, Gross will report directly to Chris Ferraro, the president of Galaxy Digital. Aiming to enhance sales within three key sectors of the firm, his role is vital as the company navigates a competitive market landscape.
What Lies Ahead?
The addition of Gross follows other significant leadership shifts at Galaxy Digital. Notably, Tim Plaka, formerly with Coinbase, transitioned to Galaxy to hone in on over-the-counter (OTC) trading.
Recent Executive Turnover
Despite these strategic hires, Galaxy Digital has seen its share of departures, with six executives, including CTO Mike McMahon, leaving in light of the company reporting a substantial net loss of $273 million in 2018. These shifts highlight the tumultuous environment in the crypto sector.
Conclusion
As Galaxy Digital undergoes these changes, David Gross’s leadership is poised to play a crucial role in redefining the company’s sales strategy and perhaps turning around its fortunes. The crypto landscape remains unpredictable, and only time will reveal if these moves will lead to success.
