HSBC Chief Legal Officer Gets Appointed As First CEO By Libra Association

The Facebook-created consortium, Libra Association has named Stuart Levey, the Chief Legal Officer at HSBC, as its first CEO.

The consortium declared on Wednesday that Levey would be joining them later this summer and will be supervising the association’s endeavor to merge technology innovation with a strong compliance and regulatory agenda. Notably, Levey has been associated with HSBC since 2012.

Earlier, Levey served the United States government as Under Secretary of the Treasury for Terrorism and Financial Intelligence and has a very strong background in fighting illegitimate finance.

Levey mentioned in a statement,

“I am honored to join the Libra Association as it charts a bold path forward to harness the power of technology to transform the global payments landscape. Technology provides us with the opportunity to make it easier for individuals and businesses to send and receive money.”

Katie Haun, a board member at Libra Association and partner at Andreessen Horowitz mentioned in a statement,

“Stuart brings to the Libra Association the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector where he managed teams spread across the globe.”