Kraken has appointed a new CEO for its subsidiary derivatives trading platform, Crypto Facilities.

Kraken has appointed Mark Jennings, a senior hedge fund professional, as CEO of its institutional crypto asset derivatives trading platform Crypto Facilities in the UK. Kraken acquired Crypto Facilities in 2019 for a nine-figure sum, and the two entities operate under separate brands for regulatory reasons. Jennings previously worked at hedge fund services at Citigroup and Credit Suisse, and served as COO and CFO of quantitative hedge fund management company True Arrow Capital Management. He joined Kraken in January 2022 as Head of European Operations. (The Block)