Andrew Peel, the head of %Cryptocurrencies at U.S. investment bank %MorganStanley (NYSE: $MS), is leaving his current post to start a new crypto investment firm.
Peel, who held the title of Head of Digital Asset Markets at Morgan Stanley, says he plans to launch the new crypto and technology investment firm in Zug, Switzerland.
The new venture will reportedly focus on tokenized funds and trading tools that bridge traditional finance and decentralized finance (%DeFi).
Peel is a former Credit Suisse trader who joined Morgan Stanley in 2018. In media interviews, he said he plans to begin fundraising soon.
His exit comes as Morgan Stanley readies retail crypto trading on its popular E*Trade platform.
Under Peel’s direction, Morgan Stanley has been aggressive about expanding into cryptocurrencies. In 2021, the bank started providing Bitcoin fund access to large institutions.
Morgan Stanley, and other Wall Street firms, are pushing into crypto amid shifting U.S. policies under President Donald Trump and rising interest from investors.
The stock of Morgan Stanley has risen 4% this year to trade at $129.35 U.S. per share.
