Equiniti Group plc, a provider of financial and technology solutions, has appointed Michael Foley, the group’s current Chief Strategist, to head its Blockchain/Distributed Ledger Technology Research and Development (R&D), according to an Equiniti statement.

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In his new role Mr. Foley will be focusing on several agendas for the group, including the transformative nature of Blockchain for Equiniti as well as the opportunities it may bring Equiniti and its clients in terms of cost and speed, security and traceability.

Mr. Foley has been at Equiniti since May 2015, having held the role of Chief Strategist. Prior to joining Equiniti, he worked as a Managing and Technical Director at Peterevans for nearly three decades, dating back to 1986, according to information made public on his Linkedin profile.

Blockchain technology presents several opportunities for Equiniti, given the group’s work with payments and securities across markets. Subsequently, Equiniti will be working in tandem with third parties in both industry and academia, having already established a dedicated R&D team at its Cardiff Fintech Centre of Excellence to focus on this work.