A well-known crypto lending company Celsius has appointed alumni of Royal Bank of Canada as its latest chief financial officer (CFO), as stated by Alex Mashinsky (the CEO of the platform). Rob Bolger formerly worked at the same position under the Canadian bank, considered to be among the biggest across the country. He has more than 25 years experiencing the conventional finance, with the mention of PwC, Citigroup, and Bank of America in the resume thereof.
The previous CFO of Celsius – Roni Cohen Pavon – will be replaced by the new executive however the former will continuously work under the firm as the chief revenue officer. Cohen-Pavon took the respective place when the CFO before him – Yaron Shalem – got suspended in the previous year after being arrested on the behalf of the authorities of Israel over suspected money laundering, as per a report. Alex Mashinsky stated that the police enquired Shalem regarding the matter that took place before he became a part of Celsius, therefore he got dismissed from the company.
As per Mashinsky, the condition was not so good, however, none of his actions was related to Celsius, as no wrongdoing happened or no funds got missing at the company. The target of Bolger is to implement controls for the protection of the consumers’ assets and assist the platform to expand on a global level. Bolger spoke that he was excited for the chance to be a part of such a rapidly burgeoning task-based venue like Celsius.
He added to be feeling privileged to have the capability to utilize the experience thereof in the fields of banking as well as conventional finance to assist the respective visionary international firm. The respective step augments the current inclination of talent shifting from the rest of the industries, chiefly finance, into the space of cryptocurrency. This migration has been escalating for years and will expectedly keep on increasing, as per a report.
More than $4M was earned by Bolger at RBC, as per the Economic Research Institute’s compiled data. He exited the bank in 2021’s September following his service of five years. Mashinsky claimed that the veteran wanted to get into the crypto bandwagon as the respective field promises high volumes along with alluring talent. Celsius had up to $8.2B in processed loans, and more than $18.9B in assets along with nearly 2M community members till 18th February, as expressed by the official website of the platform.