Ripple, the top enterprise blockchain solutions for international remittance have recently hired the new General Counsel. Stuart Alderoty, the Vice president CIT Group, the US Bank will be Ripple’s new General Counsel. Stuart Alderoty brings his 30 years of legal experience to Ripple’s vacant position. He would handle all global legal matters of the company.
Mr.Alderoty is taking over the former Brynly Llyr as general counsel at Ripple, reporting directly to CEO Brad Garlinghouse. Brynly Llyr parted Ripple in September and joined Celo, a crypto payment startup.
Alderoty would be responsible to manage the legal matters globally along with the teams for legal, policy and BSA (Bank Secrecy Act) work. Prior to Ripple, Alderoty has worked at the Top-50 bank and commercial lender, CIT Group where he served multiple positions namely, vice president, general counsel/chief legal officer, and corporate secretary, overseeing key aspects of the bank such as legal, corporate governance, insurance risk management.
Moreover, reports reveal that he has also worked as vice president and general counsel for HSBC North America before joining CIT Group.
In an official statement released in the matter of Alderoty’s joining, he embraced Ripple’s work so far in terms of transforming financial services with blockchain technology. The announcement reads;
“I am thrilled to join Ripple and work alongside this great team Brad has assembled as we find new ways to partner with leading policymakers and continue to create significant solutions for Ripple’s users and end-customers throughout the world.”
Likewise, Brad Garlinghouse notes the regulatory aspects that Ripple is dealing. He said, it would require ‘better leadership bench’ to oversee Ripple’s regulatory work to foster innovation. Citing customer’s protection, Brad says;
I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart. “He brings a level of experience and expertise that will be vital in supporting not only Ripple’s growth but the growth of the overall industry.”
Alderoty’s hiring announcement comes in a wake of the increasing lawsuit that Ripple is facing. Many investors impose a class action lawsuit against Ripple, detailing that they lost money in Ripple’s cryptocurrency token, XRP. Do you think Alderoty’s hiring as General Counsel help Ripple in a better way to deal with legal alarms globally?. Share your opinion with us