Copper hires former chancellor Hammond as special advisor

Copper hires former chancellor Hammond as special advisor

Former UK chancellor Philip Hammond has joined digital asset custody and trading infrastrucutre vendor Copper as a special advisor.

Hammond has been brought onboard to provide strategic advice to the Copper team as the company expands globally. The firm announced the launch of its US East Coast office in August 2021 with plans to launch in Asia already underway. Significant global growth follows the completion of an extended USD $75mn funding round in June 2021, led by investor Alan Howard, and venture capital firms Dawn Capital and Target Global.

Dmitry Tokarev, chief executive officer, Copper, says: “Over the last 18 months, Copper has grown exponentially, now serving over 400 institutional clients. We would like to drive growth in our client base within a regulatory framework which will allow us to thrive globally from our London headquarters.  With Lord Hammond’s expertise adding to the strength of our team, we look forward to growing Copper and further enhancing the UK’s digital asset technology offering.”

This is the second financial services role taken on by Hammond since his retirement from front-line politics in the wake of Boris Johnson's election as parliamentary leader. The former chanellor also has a paid advisory role at digital lender Oak North, which has not been without controversy owing to allegations that he broke the Ministerial Code by contacting former colleagues in Parliament to advocate the use of OakNorth's software as a pandemic resouce.

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