Top State Street crypto exec Swen Werner exits, heads 'off the grid'

People • August 3, 2023, 12:22PM EDT

Published 1 minute earlier on

Quick Take

Swen Werner, State Street’s global head of digital custody and payments, is leaving after eight years with the bank, the executive announced in a LinkedIn post.
Still bullish on blockchain technology, Werner cited personal reasons and said he would be “off the grid for a little while.”

The head of digital custody and payments for one of the United States' oldest banks, State Street, is leaving the firm after eight years.

In a LinkedIn post, State Street's Global Head of Digital Custody and Payments Swen Werner announced his departure. "I need to deal with a few personal matters," he said in the post, adding that he planned to "be off the grid for a little while."

Besides thanking his friends at the bank, Werner mentioned a desire to eventually invest more time in blockchain, a technology he believes "can change the world for the better."

Werner previously worked at JP Morgan and Deutsche Bank prior to State Street, which he joined in 2015 according to his LinkedIn profile.

It appears it was at State Street where Werner really began to develop his interest in cryptocurrency. "At State Street I held product management roles in custody, cash and most recently State Street Digital, allowing me to pursue what started as a curiosity about digital assets and blockchain into a true obsession," he also said in his post.

About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.