Lendingblock Hires Banking Veteran John Macpherson as Adviser

Cryptocurrency firms continue to poach Wall Street veterans with Lendingblock, a crypto-to-crypto lending platform, acquiring another longtime executive that had served for over two decades at top tier investment banks.

Lendingblock said John Macpherson, Citigroup’s former European head of listed derivatives, has joined the firm as a strategic adviser. He comes from machine learning FinTech firm BMLL Technologies, where he served as CEO for nearly three years. This was the latest role he held since leaving the banking sector in 2015 – since then he has been working as a consultant at NED & Consultant.

Prior to BMLL Technologies, Macpherson held a series of roles at leading banks, including as head of European head of listed derivatives at Citigroup in London. Prior to Citi, Macpherson had been named global head of futures and options at Nomura's listed derivatives unit until the bank closed its OTC clearing business in 2015.

Crypto businesses poach Wall Street execs

He also served from 2004 to 2013 at Goldman Sachs as head of fixed income futures and options sales and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term in EMEA. Macpherson says that he doubled Goldman's London derivatives business under his leadership after it went from a bit player to the top listed derivatives house in the City.

Macpherson is the latest high profile figure to migrate from the banking industry to the crypto space. Earlier this month, crypto exchange startup INX Limited poached institutional FX veteran Douglas Borthwick to flex its marketing muscle across the mainstream finance space.

Crypto startups acknowledge that part of the reasons for being focused on hiring executives from Wall Street is to deal with the strict regulatory conditions of acting as licensed providers in the US.

Lendingblock allows for borrowers and lenders to enter market or limit orders, and counterparties are matched through its automated open order books. The platform, however, doesn’t set the rates but rather indicated by market supply and demand. The demand side includes hedge funds, Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term, trading houses, OTC providers, crypto lending firms, and exchanges.