Galaxy Digital appoints Tony Paquette from Steve Cohen-founded Point72 as CFO

Galaxy Digital announced on Friday that Tony Paquette will become the crypto financial services firm's new chief financial officer.

Paquette brings over 25 years of financial services and fintech experience, including his most recent position as CFO at Point72, as well as stints as business unit leader at SoFi and managing director at JPMorgan Chase and Bank of America.

Point72 is an American hedge fund founded by Steve Cohen with over $30 billion in assets under management. Paquette led the firm's global finance, treasury, broker relations, real estate and facilities organizations. Galaxy Digital is a financial services and investment management company focused on the digital asset and cryptocurrency industry, founded by former hedge fund manager Mike Novogratz in 2018. Galaxy also issued one of the new U.S. spot Bitcoin ETFs this year in partnership with Invesco.

"We are pleased to welcome an executive of Tony's caliber to Galaxy during a period of significant growth for our firm," Novogratz said in a statement. "Tony's substantial track record of overseeing finance operations at some of the top firms in finance will enable us to further enhance our operational infrastructure and aggressively scale our business globally."

Paquette also serves on the boards of Scholars of Finance, Junior Achievement of New York and the Concussion Legacy Foundation. He previously served on the boards of the Managed Funds Association and the Brown University Athletics Advisory Council and actively advises several fintech startups.

"I am thrilled to join Galaxy, whose reputation as a world-class operator and investor in digital assets, digital infrastructure and other emerging technologies precedes it," Paquette said. "I look forward to expanding upon Galaxy's best-in-class finance team and helping further cement the firm as the preeminent industry leader."

Paquette succeeds Alex Ioffe in the role, who will transition to a senior advisor position from Jan. 1, 2025.

"I want to express my gratitude to Alex for building a robust finance team that has helped to prepare Galaxy for a potential U.S. listing," Novogratz said. "In his nearly four years with Galaxy, Alex helped the company navigate through periods of unprecedented growth and market turbulence."

Bloomberg first reported the news, citing people familiar with the appointment. Point72 confirmed the move but declined to comment further when asked by The Block.