Silvergate Void Sparks Rush for Crypto-Savvy Compliance Workers
- Companies pay up for talent to boost compliance and sales
- Demand for services surged since Silvergate, Signature’s fall
The Silvergate Bank headquarters in La Jolla, California.
Photographer: Ariana Drehsler/BloombergThis article is for subscribers only.
European financial firms catering to crypto companies are competing for top compliance staff as they manage a wave of demand following the collapse of US heavyweights Silvergate Capital Corp and Signature Bank.
Companies including Greengage Global Holding Ltd, BCB Group Ltd, Blockbank and Fiat Republic Ltd. need to bulk up their compliance teams to make sure the new clients meet anti-money laundering and regulatory standards. In some cases, firms have increased salaries as much as 20% to lure experienced personnel, they said.