Asset manager ABRDN's key digital asset team is attracted by 21shares
In a significant move, Swiss-based digital asset manager 21shares has announced a restructuring and new leadership appointments, which have contributed to a growth in its assets under management (AUM) surpassing $10 billion.
The growth in 21shares' AUM can be attributed to the rise in crypto prices during the latter part of the year. The company has hired Russell Barlow and Duncan Moir, both previously from one of the largest asset managers in the UK, abrdn, as its CEO and President respectively.
Russell Barlow, who was previously with abrdn, which manages approximately $650 billion in assets, brings a wealth of experience to his new role at 21shares. Similarly, Duncan Moir, also previously with abrdn, will take up the position of President.
As part of the restructuring, 21.co has separated its technology arm into a separate firm named 21.co Technologies, still under the 21.co holding company. This move allows for a more focused approach to the development and management of technology solutions in the digital asset space.
The restructuring by 21.co has kept the technology arm under the 21.co holding company, ensuring a seamless integration of technology and asset management services.
The exact identity of the new chairman of 21Shares following Russell Barlow's move from abrdn is yet to be announced.
This restructuring and leadership change come at a time when the digital asset market is experiencing significant growth, and 21shares is well-positioned to capitalize on this trend.
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