Former Goldman Sachs Exec Joins Anchorage Digital Bank’s Board of Directors

Crypto custody firm Anchorage Digital Bank has added Connie Shoemaker, a former Goldman Sachs executive, to its board of directors.

Shoemaker currently serves as the COO and CFO of Bridgewater Associates Holdings, the parent company of Bridgewater Associates, the world’s largest hedge fund.

Anchorage Digital Bank is the only crypto bank currently chartered by the Office of the Comptroller of the Currency (OCC). Other institutions, including Paxos and Protego, have attempted to receive a full charter from the OCC but have failed to move past the provisional charter hurdle. With the boom of institutional interest in crypto spurred by the approval of spot Bitcoin exchange-traded funds (ETFs), Anchorage Digital’s business is growing, a company spokesperson said.

In a Thursday announcement, Anchorage Digital Bank said the expansion of its board of directors was part of an effort to “meet rising institutional demand for safe, secure and federally regulated digital asset infrastructure.”

Anchorage Digital’s co-founder and CEO Nathan McCauley told CoinDesk through a company spokesperson that Shoemaker’s track record in the trad-fi world will be “invaluable” as the company continues to grow, adding that her experience building the commercial bank division at Goldman Sachs is “highly applicable” to Anchorage Digital’s work.

“By adding Connie to the board of Anchorage Digital Bank, we are doubling down on our commitment to advance the institutional ecosystem with our federally regulated offering,” McCauley said.

Shoemaker was Goldman Sachs’ global head of strategy during the 2008 global financial crisis, during which she oversaw the growth of Goldman Sachs Asset Management (GSAM). She was later Chief Administrative Officer of Goldman Sachs Bank USA.

UPDATE (June 14, 2024 at 15:13 UTC): Adds clarity throughout that Shoemaker has joined Anchorage Digital Bank’s board of directors.