CFO of Commonwealth Bank Rob Jesudason has resigned from the bank in order to join the cryptocurrency EOS. It is currently the 5th largest cryptocurrency.
According to the bank, the CFO has resigned in order to pursue other opportunities in Hong Kong. Also, the bank clearly stated that CFO has resigned in order to concentrate other opportunities.
Just within one hour of this announcement, news broke out that the finance chief had joined Block.one which is the company that sells EOS token. Also, the role of the former CFO would be the group Pres as well as the Chief operating officer. This is good news for the former CFO as well as for the cryptocurrency.
According to the company, the former finance chief will take up the role once the notice period expires. Jesudason himself stated that owing to the approach taken by the blockchain-based cryptocurrency, it is one of the fastest-growing cryptocurrencies in the world. As a result, the growth which is being witnessed by this cryptocurrency is much higher as compared to others. Also, Block.one has already raised a significant amount of money. The initial coin offering was over $ 700 million. As a result, the organization is well funded as well.
The former chief financial officer worked at the bank for 6 ½ years. Before that, he has also worked in a variety of other institutions like GE Capital, JP Morgan as well as credits shows. That is why he brings a lot of experience to the table. This is the reason why his induction to the cryptocurrency team is actually a valuable addition.
During his tenure, the Commonwealth Bank also grew by leaps and bounds and was able to grow its business significantly. As a result, his legacy at the bank is also pretty strong. In the recent months, however, Commonwealth Bank has got negative publicity as a lot of its customers have faced issues in concluding the banking transactions.
With this move, another executive from the finance industry joins the cryptocurrency industry. This is further evidence that the cryptocurrency industry is here to stay. With such executives joining the cryptocurrency space, over a period of time the cryptocurrency space is sure to expand further. This will also ensure that the cryptocurrency space grows in a structured manner and the organizations in the cryptocurrency space become stronger which will be better for the entire industry.