Multinational investment bank Morgan Stanley has appointed Andrew Peel as its head of digital asset markets, according to his LinkedIn profile. Peel is a trading expert with more than a decade worth of experience and has had a focus on cryptocurrencies in the past five years.
Peel joins the Wall Street bank from Credit Suisse, ending a 12-year long tenure. His most recent position at the Swiss Bank was Vice President of sales and trading innovation. In this role, he was the trading subject matter expert for Bitcoin and cryptocurrencies for the bank.
In his new role, Peel will be based in Zurich and London. Morgan Stanley has been one of the most proactive Wall Street banks in regards to cryptocurrencies. In January this year, Finance Magnates reported that the bank was the second on Wall Street to clear bitcoin futures, after Goldman Sachs.
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In the past, Morgan Stanley has been less critical than the other big banks towards cryptocurrencies. Earlier this year in May, it released a report about the potential benefits of cryptocurrencies for the finance industry and how the digital assets could be utilized.
One suggestion from the report was that central banks could use cryptocurrencies to aggressively cut interest rates. As a result, this could mitigate the impacts of any future financial crisis.
Andrew Peel’s career before Morgan Stanley
In 2001, Peel graduated from the Nottingham University Business School with a Bachelor of Arts majoring in Business Information Systems. Following his graduation, he started working for Inform8, a proprietor of technology.
Peel then joined Lloyds Banking Group as a graduate management trainee for one year in 2005. This then led him to his first position with Credit Suisse in 2006. During his time at the bank, he worked as a derivatives trader and on the Delta One desk for nine of the twelve years he worked for the bank. According to Peel’s LinkedIn, he has been advocating crypto markets since 2013.