Tradewind, a financial technology company digitizing precious metals with blockchain-based technology solutions, have appointed J.P. Morgan executive Michael Albanese as CEO.
With over 20 years’ experience in banking and securities markets, Michael will assume day-to-day leadership of Tradewind effective immediately.
“Michael is a leader with significant experience working with corporations, creating capital-efficient products, operating at scale, and delivering value to shareholders,” said Blake Darcy, Executive Chairman of Tradewind. “The Board and I are confident that he is the right person to take Tradewind to the next level in our global pursuit of a more efficient, transparent, secure and cost-effective precious metals ecosystem.”
Michael was most recently Global Head of Agency Collateral Management at J.P. Morgan, enabling financial institutions to effectively manage collateral by improving the end investor experience, helping broker dealers diversify funding sources, reducing transaction costs, and increasing peace-of-mind in times of market stress through clear asset ownership. Michael was also J.P. Morgan’s Global Head of Securities Clearance, which provided on-exchange securities clearance, settlement and custody globally, and the Head of the Corporate Trust business in Japan, enabling entrustment of real estate and asset-backed securities.
“Clear opportunities exist to improve how physical assets trade, settle, are custodied, and are mobilized as collateral—both in the precious metals space and beyond,” said Michael Albanese, CEO of Tradewind. “Smart deployment of technology can benefit multiple participants in the ecosystem. I am excited to join a company that has already successfully executed on a major asset class.”
Tradewind’s products have been adopted by leading institutions in the precious metals market, including the Royal Canadian Mint and several broker dealers. The business has been financed by the largest primary producers in the industry, including Goldcorp Inc., Agnico Eagle Mines Ltd., and IAMGOLD Corp.
As Tradewind expands its product offering and client base, Michael’s experience with market infrastructure across securities markets, online brokerage, and leadership of complex businesses within banking will strengthen the existing Tradewind management team.