Binance US has appointed former Ant Group and Uber executive Brian Shroder to the role of president.

Shroder replaces Brian Brooks who resigned in August after just four months in the role, citing “differences over strategic direction”.

Binance US said Shroder will have responsibility for the company’s strategy and execution, fundraising, business and corporate development in addition to the firm's legal, human resources , and product and technology functions.

The San Francisco based executive was head of business development, global partnerships at Ant Group, one of China’s largest financial services firms, and led the group’s Southeast Asia operations.

Shroder was also head of strategy and business development at Uber in their Asia Pacific region and was also formally a principal at Boston Consulting Group (BCG) where he spent six years.

The news comes amid a global regulatory crackdown on the crypto exchange; in August, the Financial Conduct Authority (FCA) said it is “not capable” of supervising the cryptocurrency firm.

The financial services watchdog said Binance’s “complex and high-risk financial products” - which allow consumers to place leveraged bets on cryptocurrencies - were “a significant risk to consumers”.

Binance is also facing regulatory scrutiny in the US, Britain, Germany, Japan, Italy and Thailand.
“In under two years, Binance.US has established itself as a regulatory compliant, profitable enterprise that serves millions of customers across the country,” said Shroder. “Having previously worked for several hyper-growth companies, it is clear to me that Binance US has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States.”

“I look forward to working with the team to further build a customer-centric organization that leads through our superior technology and our focus on providing innovative products and services.”

He added: “Furthermore, I look forward to sharing our exciting story with the broader investment community as we begin our journey towards IPO.”

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