Blockchain payment startup hires bank industry vet Alderoty as general counsel
Blockchain payment processing startup Ripple has hired banking veteran Stuart Alderoty as its general counsel. He’ll report to Ripple CEO Brad Garlinghouse and oversee all legal services, and manage the company’s global legal, policy and Bank Secrecy Act (BSA) compliance teams. Ripple’s system lets financial institutions send money instantly around the globe, says the company.
Alderoty brings a certain gravitas to what is still the Wild West of currency and payments. He has more than 30 years of legal experience, with special expertise in banking and regulatory affairs. He comes from the financial institution CIT, where he served as general counsel and secretary, and was responsible for all legal, corporate governance and insurance risk management matters. Before that, he served as general counsel at HSBC North America. He also was a senior counsel at American Express. Prior to that, Alderoty was a partner with the law firm of LeBoeuf, Lamb, Greene & MacRae, specializing in litigation.
“As we continue to work with financial institutions and regulators across the globe to drive home the importance of fostering innovation while protecting consumers, I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart,” said Garlinghouse, in a statement. “He brings a level of experience and expertise that will be vital in supporting not only Ripple’s growth but growth of the overall industry.”