From now on, Shah will act as Pantera’s newest chief operating officer (COO).
Former JPMorgan’s head of asset management sales, Samir Shah has recently announced that he would be leaving JPMorgan (JPM), the American-based investment bank, to join the crypto-driven hedge fund dubbed Pantera Capital.
The news comes in contrast to other major organizations that are laying off a significant number of their staff members, including Bybit, Crypto.com, Coinbase, Robinhood, Banxa, and Gemini, as well as Huobi Global.
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As stated by Shah, after spending 12 years at JPMorgan, the business analyst was ready to change his course and join Pantera as a chief operating officer (COO). He added:
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“Pantera is one of the industry’s leading investors in blockchain technology, and I’m excited to partner with Dan Morehead, Joey Krug, and the broader Pantera team to help take the organization to new heights!”
On top of that, Pantera’s new COO stated that his time at JPMorgan gave him valuable expertise that will undoubtedly benefit him in the current role. “I leave humbled, as a very proud alum and a forever champion of the firm,” Shah concluded.
In fact, this isn’t the first time when JPMorgan manages to lose a significant piece of its team. Earlier this year, Christine Moy, former JPM exec, was picked up by a major private equity investment organization Apollo to become the head of digital assets strategy.
Pantera Capital, founded in 2003 by Dan Morehead, is an organization managing $1B in hedge fund strategies. The firm established its first US blockchain-based hedge and venture funds in 2013 and has since led 210 investments.
