The Bayesian Group, the parent company behind Fabriik Qualified Custody, is upping the stakes in the race to deliver on the promise of frictionless financial management. Today they announced their plans to build a blockchain-centric qualified custodian, with Karen J. Wendel as Chief Executive Officer. Wendel will lead the deployment of Fabriik Qualified Custody, offering multi-asset regulated custody services for institutions and retail clients. Fabriik Qualified Custody will operate as part of Fabriik, a global digital asset fintech initiative consisting of a collection of strategically aligned businesses across the liquidity ecosystem.
Wendel is an experienced executive who led the regulated bank-created identity syndicate IdenTrust for more than a decade, Wendel also held CEO and Partner roles in venture-backed and global consulting firms where she drove strategic, operational reengineering, and innovation projects for large global entities including Bank of America and ABN AMRO. Her most recent projects have focused on what she refers to as the “liquidity ecosystem”, i.e. the use of technologies such as distributed ledgers and qualified custody to transform illiquid assets, whether traditional or alternatives, into fungible, highly liquid structures.
“The Bayesian Group is pioneering a transformational approach that allows everyone to unlock their financial power. I am thrilled to have the opportunity to participate in the charting of that new roadmap,” says Wendel.
“Custody is a critical piece of the Fabriik ecosystem, however, our needs are quite unique as we embark on a mission to build a seamless marketplace. With Karen we not only found a brilliant mind who’s experience in custody and finance was unrivaled, but her understanding of the convergence of traditional, physical, and digital assets is light years ahead of the pack. It’s a pleasure and honour to be working with Karen to build the next generation of qualified custody,” says Roy Bernhard, CEO of The Bayesian Group.