Galaxy Digital Hires Goldman Sachs Exec to Oversee Blockchain Unit

Galaxy Digital Capital Management has hired Goldman Sachs banker Ian Taylor to be in charge of this advisory department. Sources have indicated that Taylor is scheduled to join Galaxy Digital Capital Management before January 2019.

Taylor formally worked with Goldman for 19 years and will currently oversee Galaxy Digital Advisors, a unit of the company that provides blockchain advisory services. Mike Novogratz, owner of the Galaxy Digital was a former hedge fund manager and previously a partner at Goldman Sachs. Since his raising of $250 million in February 2018 to finance Galaxy Digital Capital Management, Novogratz has continued to woo most of the top executives from his former employer to his new firm.

Mike Novogratz’s merchant bank, Galaxy Digital, has hired former Goldman Sachs Group Inc. banker Ian Taylor, according to people familiar with the matter.

Taylor will join the firm before year-end and oversee the advisory-services arm, known as Galaxy Digital Advisors LLC, said one of the people, who requested anonymity because the information isn’t yet public. The unit advises clients in the blockchain industry, and its services include token raises, debt and equity private placements, mergers, and restructurings, according to its website.

A spokesman for Galaxy Digital declined to comment.

Taylor was most recently Goldman’s head of real estate, lodging and gaming equity capital markets for the Americas, according to his LinkedIn profile.

Novogratz, a billionaire and former Goldman partner, previously said he was trying to create the Goldman Sachs of crypto, but in June refreshed his vision. Now he wants to become the Drexel Burnham Lambert of the industry.

“If you think about what Mike Milken and his guys did, they helped credentialize junk bonds, high yield as an asset class,” Novogratz said in June. “They were the proselytizers, the traders, the bankers.”

Galaxy was among investors in Bitfury, which raised $80 million in an offering that valued the crypto venture at more than $1 billion, people familiar with the matter said earlier this month.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.