The Libra Association has appointed HSBC veteran James Emmett as managing director of its subsidiary firm, Libra Networks LLC.
James Emmet spent 25 years at HSBC and is a former colleague of the Libra Association’s new CEO, former HSBC chief legal officer Stuart Levey. Levey is also the former Under Secretary for Terrorism under the administrations of George W. Bush and Barack Obama
Emmett has held multiple roles in his long career at HSBC, most recently working as group general manager.
In an official statement, Levey underscored Emmett’s extensive experience as a financial services executive “with deep substantive expertise and operational experience.” He said he believes Emmett’s leadership will “help make Libra’s vision a reality.”
The Libra Association, of which Facebook is a member, is an independent membership organization based in Geneva created to govern the Libra stablecoin network.
Libra Networks is responsible for developing and operating the cryptocurrency payments system, and was originally established as a Facebook subsidiary