Ripple’s board of directors has onboarded a powerhouse employee from the legacy financial sector.
Sandie O’Connor, the former chief regulatory affairs officer at U.S. multinational investment bank JPMorgan Chase & Co. has joined Ripple’s board, the company revealed on Tuesday.
Former JPMorgan Exec Joins Ripple Board
According to the official announcement, O’Connor will be tasked with providing “counsel on key government relations and regulatory initiatives” in the company’s next growth phase as it expands its offerings and seeks regulatory clarity in the U.S.
The appointment comes as Ripple mulls moving its headquarters from San Francisco to another country due to the lack of regulatory clarity in the United States. Notably, Ripple’s XRP cryptocurrency is still at risk of a securities classification in the U.S. pending the ongoing class-action lawsuits, while other countries like the UK, Japan do not consider the token to be a security.
O’Connor brings 31 years of regulatory affairs experience to the table, having served as chief regulatory affairs officer and treasurer for JPMorgan before retiring from the bank in April 2019. Since July, she has been an advisory committee member for the Federal Deposit Insurance Corp.
Ripple CEO Brad Garlinghouse noted that O’Connor’s “extensive network and in-depth understanding of markets, capital flows and banking will provide valuable and unique insights as new policies and regulations take shape across the U.S”. He added:
“The U.S. needs a single clear regulatory framework for crypto that levels the playing field and supports American innovation and companies. Sandie’s experience and guidance will support us on our journey to building a more inclusive financial system.”
O’Connor seems to have filled the position on Ripple’s board that was recently relinquished by Ken Kurson. Kurson, who is also a close friend to the Trump family, was arrested in October in a federal cyberstalking case.
O’Connor spoke of her enthusiasm for joining the Ripple board:
“Ripple is reshaping the financial landscape solving inefficiencies with today’s payments infrastructure using digital assets and blockchain technology. The opportunity for the market has never been bigger, and I’m thrilled to bring my experience working with leaders in developing regulatory policy to support the evolution of the payments ecosystem and promote financial access and inclusion.”