Former Chancellor Philip Hammond lands new job in crypto

After leaving office a lot of MPs often take up advisory roles, and former Chancellor of the Exchequer Lord Philip Hammond has made his way over to fintech.

Marking his - at least - thirteenth job since he left the Treasury in 2019, Hammond has now been employed by cryptocurrency trading firm Copper.

Hammond will help Copper promote the UK as a global leader in digital asset technology and help connect traditional finance to distributed ledger technology.

“Copper is a true pioneer of digital asset investment technology, innovating the highest standards of security and trading for financial institutions. But the really exciting opportunity lies in the application of this technology to revolutionise the way financial services are delivered,” incoming senior advisor Hammond said.  

“If we can bring together the best of Britain – entrepreneurs, industry, government, and regulators – to create and enable a blockchain-based ecosystem for financial services, we will secure the UK’s global leadership in this field for decades ahead,” he went on.

Off the back of a $75m funding round in June 2021, Copper opened a US East Coast office in August 2021 and is already looking to expand across Asia and Hammond will help it further deepen its presence on the online stage.

“Over the last 18 months, Copper has grown exponentially, now serving over 400 institutional clients,” Dmitry Tokarev, CEO and founder of Copper,added. 

“We would like to drive growth in our client base within a regulatory framework which will allow us to thrive globally from our London headquarters.  With Lord Hammond’s expertise adding to the strength of our team, we look forward to growing Copper and further enhancing the UK’s digital asset technology offering.”

Founded in 2018, Copper provides a gateway into the digital asset space for institutional investors, offering custody, prime brokerage and settlements across more than 300 digital assets over 45 exchanges.