A trio of former Citi executives have formed a new crypto-dedicated investment management firm named Motus Capital.
The company is the brainchild of Alex Kriete, Greg Girasole and Frank Cavallo, who each left Citi in recent months after long stints at the bank. Most recently, Kriete and Girasole served as co-heads of digital asset group Citi Global Wealth.
Details on the new operation are scarce, but Kriete said in a LinkedIn post that it would aim to bring the trio’s “decades of combined experience in advising and managing client wealth” to the crypto industry.
In a recent interview, before unveiling Motus Capital, Kriete told The Block that “financial institutions are struggling to keep pace in this market.”
“We’re excited to build something that speaks to these people,” he added.
At Citi in 2017, Kriete and Girasole began writing an internal crypto-focused newsletter, helping to establish the pair as inside experts at the bank.
Their departures in April are just the latest example of talent flowing from Citi to the broader crypto sector. The Block chronicled the exodus in a recent article, counting no fewer than 15 departures that have found new homes at companies including Copper, CoinFund, Paxos, Genesis, Provenance Blockchain Foundation.