Welcome to the Boardroom!

In an exciting twist in the world of cryptocurrency, BitMEX’s parent company, 100x Group, has recruited Wai Kin Chim, a seasoned financial guru, to add some sparkle to their board. With a career that includes notable stints at the Bank of China, Chim is like the Swiss Army knife of the financial world—capable of tackling a variety of complex tasks with finesse.

Your Guide to Non-Executive Board Members

So, what does a non-executive board member even do? Echoing the responsibilities of a wise owl perched high in a tree, they help in shaping the policies and plans of the firm but don’t get embroiled in the day-to-day running. They might be on the sidelines, but their role is far from inconsequential.

• Policy Making: Contributing to the big decisions.
• Monitoring: Keeping an eagle eye on executive actions.
• Shareholder Interests: Acting as a guardian for those with a stake in the company.

Chim’s Impressive Credentials

Chim isn’t your run-of-the-mill banker. With over 30 years of experience in the financial jungle, he’s seen it all—a bit like the ‘Indiana Jones’ of finance. He’s held various prestigious roles, including:

• Chief Credit Officer at the Bank of China
• Independent Non-Executive Director at OCBC Wing Hang Bank
• Director at Standard Chartered Bank’s Chinese operation
• Senior Position at Deutsche Bank

His extensive background in international banking, compliance, and risk management makes him a heavyweight in the boardroom.

Recent Appointments and Strategic Moves

Chim’s hiring isn’t an isolated event. It comes shortly after 100x Group appointed Alexander Hoptner as its new CEO. You could say they’re curating a dream team, like assembling the Avengers, but for financial strategy. Both Hoptner and Chim are set to officially join the board of directors as of February 1, 2021. Avengers, assemble!

Aiming for the Stars (and Regulatory Compliance)

Amid all these changes, 100x Group is not just on a hiring spree; they are also tightening their regulatory and compliance procedures. With BitMEX facing some legal action from U.S. securities regulators, the company clearly understands the need for a robust strategy. Their collaboration with crypto intelligence firm Chainalysis and membership in Global Digital Finance highlights their commitment to navigating these choppy waters.

As the crypto landscape continues to evolve, the seasoned leadership of Wai Kin Chim could very well be the steering wheel 100x Group needs to drive safely and successfully into the future.