According to Odaily, Swiss crypto asset management firm 21Shares has appointed Russell Barlow from abrdn as its new CEO, while his colleague Duncan Moir has been named President. Abrdn, one of the UK's largest asset management companies, manages nearly $650 billion in assets. Barlow previously served as the Global Head of Alternative and Multi-Asset Investments at abrdn, overseeing more than $200 billion in assets. Moir led the company's crypto and blockchain strategy. Additionally, Edel Bashir will take on the role of Chief Operating Officer at 21Shares, having previously been the COO of Alternative and Multi-Asset Investments at abrdn.
In a significant move, 21.co, the parent company of 21Shares, announced a restructuring plan that includes spinning off its technology division into a separate entity named 21.co Technologies, which will remain under the 21.co holding company. The founders of 21.co, Hany Rashwan and Ophelia Snyder, will jointly serve as Chairpersons of 21Shares, overseeing the company's daily operations. Furthermore, 21Shares has internally promoted Andres Valencia to the position of Executive Vice President of Investment Management.
Since the middle of this year, 21Shares has experienced substantial growth, with its assets under management increasing by two-thirds, now exceeding $10 billion. This expansion reflects the company's strategic initiatives and leadership changes aimed at strengthening its position in the rapidly evolving crypto asset management sector.