Libra Association picks former HSBC head as Managing Director

The Libra Association has announced that James Emmett has been appointed as the Managing Director of Libra Networks LLC, the operating company subsidiary of the Libra Association. He will fill the role from October 1 and oversee the development and operation of Libra’s cryptocurrency payment system.

Commenting on the news, Emmett said:

“As someone who is passionate about the opportunities for financial services and technology to make a real difference, I am delighted to be joining Libra Networks with a mission to enhance financial innovation and inclusion and to deliver the operationalization of the network.”

Emmett was picked for the job due to his experience as a financial services leader. According to the Libra Association, Emmett has “a wealth of global experience in business, strategy, technology, and operations” thanks to the work he has done at HSBC over 25 years. At HSBC, he was responsible for the bank’s UK Wholesale Bank and operation in Continental Europe, Sub-Saharan Africa, and Bermuda. He was also the Chief Operating Officer of HSBC Bank plc.

So far, Facebook has run into a lot of issues around regulation with its cryptocurrency ambitions and has had to scale back its plans. Hopefully, with people like Emmett, Facebook will be able to more successfully navigate further hurdles.

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