Copper.co names former UK chancellor Lord Hammond as chair
Digital asset infrastructure firm Copper.co has appointed former UK chancellor Philip Hammond as chair, with immediate effect.
Lord Hammond, who has served as a senior advisor to Copper since October 2021, has resumed his business career since stepping down as an MP in 2019. He served as Chancellor of the Exchequer from 2016 to 2019.
At Copper, Hammond has provided “strategic advice” to the firm as its headcount has grown from 50 to 300, expanded its operations across the globe and doubled its revenues.
Copper chair Hammond says the firm has “pioneered” the use of digital asset investment technology, “which is increasingly emerging as the leading option for global financial institutions to trade and safeguard their digital assets”.
“I remain firmly of the view that the post-Brexit UK financial services sector needs to embrace Distributed Ledger Technology (DLT) as a key part of its strategy to remain a major global financial centre,” Hammond adds.
Copper CEO Dmitry Tokarev says the firm has benefited from Hammond’s “strategic expertise” borne out of his career in both politics and business and “his public advocacy relating to the importance of connecting traditional finance with distributed ledger technology comes at a time when it is needed more than ever”.