BCB Group Experiences Leadership Changes as Chief Compliance Officer Departs

BCB Group Faces Leadership Shake-Up with Departure of Chief Compliance Officer

BCB Group, the London-based cryptocurrency payments firm, is bracing for its fifth C-suite departure in just 18 months, as it bids farewell to its chief compliance officer, Natasha Powell. In a recent email, Powell announced, “I am stepping away from the day to day running of the business,” while choosing not to disclose her next role, other than indicating that it is not with a competing firm.

In light of Powell’s departure, Kym Routledge has been appointed to lead the compliance function, ensuring that BCB Group maintains its robust regulatory framework.

Powell has played a pivotal role in establishing BCB Group’s top-tier compliance program, which has now become the foundation of the company’s regulated operations. CEO Oliver Tonkin expressed his sentiments in an emailed statement, saying, “Natasha has been instrumental in driving the creation of BCB Group’s first-class compliance programme that now forms the bedrock of our regulated businesses. While I am sad to see her leave us, I am delighted to be able to announce she will be continuing to support BCB as a non-executive director of BCB Payments.”

Powell’s exit follows a series of high-profile departures within the company. Notably, former CEO Oliver von Landsberg-Sadie left the firm in November to pursue new opportunities, which occurred just five months after Noah Sharp, the Deputy CEO, departed following the unsuccessful acquisition of Germany’s Sutor Bank. Additionally, Ian Moore, the chief banking officer, resigned from the payments firm in September of the previous year, while Lux Thiagarajah, BCB’s former chief revenue officer, transitioned to crypto prime broker FalconX in May as head of commercial FX.

In recent developments, BCB Group has also attracted interest from an unidentified investor regarding a potential takeover. This bid was disclosed by CoinDesk last week and reportedly originated while BCB was in the process of exploring a Series B funding round, according to sources familiar with the situation.