Former Morgan Stanley Executive Will Spearhead Effort To Bring Institutional Buyers and Sellers to Figure Blockchain Platform, Provenance
Figure Technologies, a leader in transforming financial services through the power of blockchain technology, announced that former Morgan Stanley Global Head of Securitized Lending Bob Hershy will join the company as Head of Figure Debt Capital Markets, part of the merchant banking effort Figure launched last year.
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“Bob and I have known each other for decades and it is an honor to have him join Figure in such an important capacity”
“Bob and I have known each other for decades and it is an honor to have him join Figure in such an important capacity,” said Mike Cagney, CEO and Co-Founder of Figure.
“Bob will play a critical role in educating the financial industry on the massive cost savings and efficiencies that can be achieved today through Provenance, the blockchain platform we built to transform financial services. Bob will also be instrumental in leveraging Provenance marketplace to provide capital for asset originators and liquidity for asset buyers. In addition to being a great banker, Bob is a true leader and we’re very fortunate to have him on our team.”
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Hershy got his start at Morgan Stanley in 1984, working in sales of securitized products. He rose to become Managing Director and Global Head of Securitized Products Lending. Hershy also held positions at Morgan Stanley that included Head of U.S. Warehouse Lending, Global Head CLO New Issue and Global Deputy Head of SPG. Hershy retired from Morgan Stanley in January of 2019.
“I consider this one of those once in a lifetime opportunities,” Hershy said. “To be able to play a role in bringing the world of finance to the blockchain revolution, really gives me a front row seat to watch history unfold. We are going to build more than just a business at Provenance, we’re going to change the world of finance by introducing Wall Street to the ways blockchain can eliminate costs from intermediaries, automate inefficient operational processes and slash risk.”
