Meet Howard Surloff: The New General Counsel for Blockchain.com
In a move that could shake up both the crypto and financial sectors, Howard Surloff has officially joined Blockchain.com as general counsel. Having spent over 25 years climbing the corporate ladders of BlackRock and Goldman Sachs, Surloff isn’t just dipping his toes into the world of digital currencies—he’s diving in headfirst.
The Legacy of Traditional Finance
Surloff’s lengthy career in traditional finance is nothing short of impressive. He handcrafted his expertise at BlackRock for 12 years, where he worked his way from deputy general counsel to the global chief operating officer of the iShares and Index business. With assets over $4.4 trillion and a workforce of 800, it’s safe to say that he’s no stranger to navigating complex legal waters.
Prior to his tenure at BlackRock, he was a managing director at Goldman Sachs, holding the reins for the United States Asset Management Division and overseeing legal strategy across more than 1,000 investment products. That’s what you call a deep resume!
What Does This Mean for Blockchain.com?
With Surloff now on board, Blockchain.com is looking to elevate its standards for legal compliance and corporate governance in the ever-evolving crypto landscape. As the firm announced on Oct. 1, Surloff’s experience is expected to help steer the company in a regulatory environment that often feels like a game of hopscotch—one wrong move and you’re out!
A Clear Vision for Compliance
One of the primary aims will be to instigate a robust compliance framework that aligns with the company’s long-term goals and pioneering spirit. This is especially crucial as the crypto industry continues to be scrutinized by regulators worldwide.
Crypto’s Corporate Titans: BlackRock and Goldman Sachs
It’s interesting to note that while Surloff has jumped to the crypto side, both BlackRock and Goldman Sachs have also shown a keen interest in digital currencies. Back in August, Goldman Sachs released a note to clients predicting a bullish forecast for Bitcoin, with a short-term target of $13,971. This optimism follows their hiring spree for individuals to work on digital asset projects, hinting at their strategic intentions.
BlackRock’s Foray into Crypto
BlackRock is also playing the long game, having formed a working group to explore potential crypto investments, including Bitcoin futures. Even their CEO, Larry Fink, has weighed in on the topic—though with a sprinkle of skepticism. Fink doesn’t see Facebook’s Libra as a real crypto solution, emphasizing the need for technology implementation instead.
The Future Looks Bright—Or Does It?
As Surloff embarks on this new journey with Blockchain.com, one can only wonder how his expertise in traditional finance will transition into the rapidly-changing crypto realm. Will he maintain the high standards of regulation and compliance that served him well on Wall Street? Only time will tell—but if his past is any indication, Blockchain.com is gearing up for a stellar compliance endeavor.
