Senior VP of Xapo’s Institutional Crypto Custody Business Moves to BitGo

Siamak Masnavi

On Monday (August 19), BitGo announced that Pete Najarian, who was until recently Senior Vice President for Xapo's institutional crypto custody business, is joining BitGo as the Chief Revenue Officer (CRO).

In a press release shared with CryptoGlobe, BitGo said that Najarian will be"responsible for driving the company’s global sales strategy and execution," and that he will be reporting directly to CEO Mike Belshe.

The BitGO CEO had this to say about Najarian's appointment as CRO:

Pete has a deep understanding of capital markets and an exceptional breadth of experience in financial services. This makes him a perfect partner for institutional investors who are entering the cryptocurrency market. We’re building the financial infrastructure of the future and Pete’s experience in both traditional financial markets and  cryptocurrency will be critical. I’m delighted to have him on my leadership team.

As for Najarian himself, he stated:

In my conversations with institutional investors, it’s clear that interest in cryptocurrency continues to grow, and that there is a real and significant opportunity. I’ve spent my career working with institutional investors and what impressed me about BitGo is the company’s commitment to delivering both the services and depth of client engagement that are required to build long-term partnerships with institutional investors.

Najarian arrives at BitGo with over 20 years of experience in "international finance with institutional investors." During his career, prior to working for a year and a half at Xapo, Najarian held several senior positions at Royal Bank of Scotland and UBS. He has a bachelor's degree in economics from Lafayette College, as well as an MBA from Duke University.

On August 14, crypto custody solution provider BitGo said that it was being approached by clients of rival custodian Xapo who are worried about Xapo's rumored deal with Coinbase Custody, which was formally announced on April 16.

Featured Image Courtesy of BitGo