Former Morgan Stanley exec joins crypto unicorn Amber

On September 17, Amber Group, a crypto unicorn headquartered in Hong Kong, announced on Friday that it has appointed former Goldman Sachs partner Dimitrios Kavvathas as chief strategy officer, former Morgan Stanley managing director Todd Miller as chief operating officer for the Americas, and former Royal Bank of Scotland executive Sotirios Kavvathas as head of European business. In addition, three new European regional directors were added, all from the financial industry. The company has added 250 employees in the past eight months, bringing the total number of employees to 450.

The new recruits will help the company develop global strategies and work with regulators and institutional clients. Amber was founded in 2018 by five Morgan Stanley traders and is committed to developing financial services for professional cryptocurrency traders and investors, including over-the-counter transactions, derivatives and structured products.

In June this year, the company raised $100 million from investors including DCM Ventures and Tiger Global Management, with a valuation of $1 billion. CEO Michael Wu said in an interview in June that Amber manages about $1.5 billion in trading funds and its revenue is expected to grow tenfold to $500 million this year.