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- Tim Grant, formerly head of EMEA at Galaxy Digital, announced his departure from the firm Thursday.
- The move comes just a week after Mike Novogratz’s company appointed its first CEO in Europe.
Galaxy Digital just lost its head of Europe, Middle East, and Africa, as the firm overhauls its European leadership.
Tim Grant announced his departure from Mike Novogratz’s crypto trading company on LinkedIn on Thursday. Grant arrived at Galaxy from SIX Digital, where he was CEO, in August 2021.
“It’s been a privilege to lead the EMEA expansion and play my part in the Galaxy story,” Grant wrote.
Grant’s next move is unclear, but he said he looks forward to “becoming an institutional Galaxy shareholder and Galaxy client and partner from my exciting new vantage point in the markets.”
Leon Marshall, who was announced as Galaxy’s CEO in Europe last week, will succeed Grant — who wished him the “very best in carrying the torch and building much more from here.”
Marshall’s move to the top of Galaxy has been swift. He joined in June as global head of sales.
Marshall spent the last four years as head of sales at Genesis, the now-defunct institutional trading platform that was a subsidiary of the Digital Currency Group.
Before diving into the world of crypto, Marshall was a commodities trader at Swiss bank UBS and a portfolio manager at the $500 billion private equity outfit, Apollo Global Management.
His first role in crypto came as head of research for CCData, then CryptoCompare.
Galaxy Digital has lost several top execs over the past 18 months, notable departures include two Goldman Sachs alum — Danielle Johnson and Damian Vanderwilt.
Johnson, who joined in May 2022, left her role as head of global distribution and private capital markets in June.
The firm announced last year that Vanderwilt will transition out of his role as co-president into an advisory role.
Galaxy poached several top executives from Goldman, Novogratz’s former firm. The investment bank doesn’t appear to harbour any ill will though, it executed its first crypto trade through Galaxy in March 2022.
Galaxy trades on the Toronto Stock Exchange for CAD$4.79, or about $3.56.
Adam Morgan McCarthy is DL News’ London-based Markets Correspondent. Got a tip? Reach out at adam@dlnews.com.