A spokesperson for the leading investment bank Goldman Sachs confirmed that the organization hired trainee and graduate of the Massachusetts Institute of Technology (MIT) Justin Schmidt to the post of vice president and head of the department for digital assets markets within the bank's securities division. This is reported by Business Insider.
In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering.
The main task of Schmidt will study of the possible interaction of Goldman Sachs with the cryptocurrency market, and also, probably, the launch of its own crypto trading desk.
The bank stressed that in his position Schmidt would not trade any assets, including crypto-currencies.
Schmidt, a graduate of Massachusetts Institute of Technology, joins the investment bank from Seven Eight Capital, where he was a senior vice president. Previously, he was a portfolio manager at WorldQuant and a vice president at Merrill Lynch.