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Commonwealth Bank Of Australia’s CFO Quits To Join EOS VC Firm

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Commonwealth Bank Of Australia’s CFO Quits To Join EOS VC Firm

The chief financial officer of the Commonwealth Bank of Australia, Rob Jesudason, is resigning to join a blockchain startup based in Hong Kong known as Block.one as the chief operating officer and president.

Block.one is the startup backing the EOS (EOS) virtual currency which is currently the fifth largest in the world with regards to market capitalization and develops open source software, with EOSIO being their flagship project, which is a blockchain protocol designed to enable secure data transfer and high performance decentralized applications.

Rob Jesudason Will be Joining Block.One, a VC Firm for the EOS Ecosystem, Source: Mozo

“Rob has a proven track record of success in global financial services… His alignment with our organizational priorities of creating compliant, high-performance blockchain solutions, is an ideal fit for Block.one,” the CEO of Block.one, Brendan Blumer, said in a statement.

EOS: The Fifth Largest Crypto by Market Cap, Source: CoinMarketCap

Jesudason to Join Block.one After Serving Notice

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Jesudason will serve his notice period and join Block.one later in 2018. At Commonwealth Bank of Australia Jesudason is responsible for overseeing investor and property relations, security, treasury, audit and group finance.

Jesudason has lasted as the CFO of Commonwealth Bank of Australia for less than one year as he was appointed in July 2017. Rumor in the air is Jesudason had been eyeing the position of chief executive officer of Commonwealth Bank of Australia but lost the job to Matt Comyn.

Before becoming the CFO of Commonwealth Bank of Australia, Jesudason was located in Hong Kong from where he headed the international financial services unit of the bank.

Wide Global Experience in Many Countries

Jesudason had also served as the head of the strategy for Commonwealth Bank of Australia, a position he was appointed to in 2011. He was responsible for managing the international growth of the bank especially in areas such as insurance, commercial banking, retail banking and digital banking in South Africa, Vietnam, Indonesia, India, and China.

Before that Jesudason headed the global emerging markets unit of Credit Suisse. Other financial institutions he has worked for include GE Capital, Barclays and JPMorgan Chase. Additionally, Jesudason has also worked for consultancy firm McKinsey & Company. Besides the Asia Pacific region, Jesudason has also worked in Europe and the United States.

Jesudason will join the board of directors of Block.one and will be charged with the responsibility of scaling the startup’s operations across the globe. While accepting the appointment, Jesudason said that blockchain technology would result in the transformation of a lot of industries in the future. Additionally, the technology will result in the redefinition of operating models as it will streamline businesses while at the same time cutting risk and costs.

Blockchain will be a Transformative Technology

Per Jesudason the technological innovation of Block.one will result in scalable, low-cost and fast blockchain performance being made possible.

He also noted that the approach pursued by Block.one had resulted in a strong response from the market and consequently the startup had emerged as one of the fastest expanding businesses around the globe. Jesudason also committed to pursuing operational growth strategies that will not deviate from the approach.

The appointment comes in the wake of Block.one also appointing Lee Schneider as a global general counsel. Schneider will begin his new role at Block.one in early June.

The global general counsel will be charged with the responsibility handling the legal affairs of the startup as well as the proactive compliance and regulatory initiatives of Block.one. Schneider earned both his undergraduate and Juris Doctor degree in the United States.

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