Former JPMorgan exec joins Ripple's board

Sandie O’Connor, the former chief regulatory affairs officer at banking giant JPMorgan Chase, is joining Ripple’s board of directors.

According to a Ripple blog post published yesterday, O’Connor will “provide counsel on key government relations and regulatory initiatives” as part of her role on the board. O’Connor worked at JPMorgan for 31 years, serving as chief regulatory affairs officer and treasurer for the bank before retiring in 2019. She has been a systemic resolution advisory committee member for the Federal Deposit Insurance Corporation, or FDIC, since July.

CEO Brad Garlinghouse said O’Connor’s “extensive network and in-depth understanding of markets, capital flows and banking” would help Ripple build “a more inclusive financial system.”

“The U.S. needs a single clear regulatory framework for crypto that levels the playing field and supports American innovation and companies,” said Garlinghouse, stating the addition of O’Connor may help the firm toward this path.

Thrilled to have Sandie join our Board - with her years of expertise in regulatory affairs, treasury and financial services, she’ll be invaluable in helping guide Ripple through our next phase of growth. https://t.co/748JJADw0v

Garlinghouse and Ripple's co-founder Chris Larsen have both previously stated the lack of regulatory clarity from the United States may drive the firm to move its headquarters from San Francisco to another country. Ripple opened a regional office in Dubai last month and a board member has stated Japan may be the “most promising candidate” for the company’s new headquarters.