Motus Capital is a new investment management firm specialising in cryptocurrency founded by three former Citi employees. The new venture’s details are scarce, but Kriete stated on LinkedIn that it will try to bring the trio’s “decades of combined experience advising and managing clients’ wealth” to the crypto space.
After each leaving Citi in the last several months of their extensive tenures there, Alex Kriete, Greg Girasole, and Frank Cavallo founded the company. Kriete and Girasole most recently served as co-heads of Citi Global Wealth’s digital assets group.
Prior to the launch of Motus Capital, Kriete revealed in an interview that “financial institutions have a hard time keeping pace in this market.”
He continued, “We’re excited to build something that caters to these people.”
In 2017, Kriete and Girasole started publishing an internal crypto-focused newsletter at Citi, which helped them position themselves as in-house specialists at the bank. Their resignations in April are just the latest example of Citi employees migrating to the crypto industry. According to sources, Copper, CoinFund, Paxos, Genesis, and the Provenance Blockchain Foundation are among the companies that have benefited from the migration of Citi employees.