Per a recent regulatory filing, the Board of Directors of Coinsilium Group Limited announced the appointment of Mark McDonnell as interim CEO of its investee company operating as Magnr. Formerly known as BTC.sx, Magnr offers leveraged Bitcoin trading and was one of the first investments made by Seedcoin.
McDonnell has over 25 years’ experience in the financial services industry and has held senior positions at Lehman Brothers, AIG Financial Products and Bank of America Merrill Lynch. He is a director of the strategic advisory firm Sherpa Millbank Ltd and is a founding partner of EMx Capital Strategies LLC. EMx is a US based corporate finance and strategic advisory firm which the Directors of Coinsilium explain will immediately take an active role in the repositioning and expansion of the Magnr platform.
Joe Lee, founder of Magnr, commented: “Magnr is proud to appoint Mark as Interim CEO to help our transition from successful startup to a leading institutional provider of digital currency and blockchain services. To date, Magnr has processed over USD 110m in transactions on its bitcoin trading platform for over 25,000 clients. Mark will be instrumental in expanding Magnr’s product offering.”
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Laurent Kssis, non-executive chairman of Coinsilium, added: “We are delighted to welcome someone of Mark’s calibre and experience to Magnr. Whilst Coinsilium is primarily an investment company, we also make sure that we support our early-stage investees as they develop. Our role from introducing Mark to the team through to the advising on his agreement, is an example of the work we do behind the scenes which we believe not only assists our investees in their development but also adds value to their companies.
With his financial services and capital markets background and expertise, Mark will provide an invaluable resource to both support and drive Magnr’s future growth. The whole Coinsilium team looks forward to working with Mark, Joe and the rest of the company in the coming months.”