Alex Knight, a former senior executive at Citi’s FX business, has joined blockchain post-trade services provider Baton Systems as head of Europe, the Middle East, and Africa (EMEA) region.
Alex has left his position as a director and global head of sales and client coverage for FX prime brokerage (FXPB) at Citi back in May 2019. He had been with Citi for nearly two decades, having previously worked for the US bank in Sydney and Singapore. Most recently, he led Citi’s UK prime brokerage business, based out of London, from 2015 to 2019.
Prior to joining Citi, Knight worked as a sales director at SS&C Technologies, part of a career dating back to 1992, his Linkedin profile shows.
“Alex’s wealth of knowledge and deep connections with broader banking and financial institutions in Europe will be instrumental in helping Baton to automate the movement of assets across the financial system,” said Andres Choussy, COO and former CEO of CME Group’s post-trade business Traiana, who joined Baton Systems in July this year.
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Baton Systems, which provides bank-to-bank payments infrastructure modeled on blockchain technology, expects Alex’s experience across FX and derivatives markets to help the brand more quickly build on its platform in the European market.
Baton process $12 billion in daily transactions
Earlier in February, the three-year-old, California-based startup raised $12 million in series A funding led by Trinity Ventures, with participation from Alsop Louie and Commerce Ventures.
Founded in 2016, Baton provides a blockchain-based solution for the banking space that doesn’t require banks to overhaul existing systems. The firm, which claims to be processing more than $12 billion a day in payments between its clients and clearinghouses, works with different market participants, including banks, custodians, and exchanges.
Commenting on his appointment, Alex Knight noted: “Excessive funding costs, operational inefficiencies, and risk all create a significant drag on financial markets participants. Technology can be used to mitigate these pressures. Baton has evolved as one of the industry’s most innovative financial technology firms, solving inefficiencies in legacy payments systems in a practical way, and I look forward to driving the expansion of its business in Europe.”