Ripple Names Stuart Alderoty As General Counselbr>
Stuart Alderoty has been named as the new general counsel at Ripple, filling a position that has been vacant since September, the company has announced in a press release.
Alderoty was formerly an EVP, general counsel and corporate secretary at US bank CIT. At Ripple, he will be responsible for overseeing all legal services as well as the management of its global legal, policy and Bank Secrecy Act (BSA) compliance teams.
“Blockchain technology is transforming the financial services industry and Ripple has been at the forefront for both its technology and thoughtful approach to policy,” said Alderoty. “I am thrilled to join Ripple and work alongside this great team Brad has assembled as we find new ways to partner with leading policymakers and continue to create significant solutions for Ripple’s users and end-customers throughout the world.”
Ripple faces a consolidated federal class action lawsuit alleging that its XRP token is a security issued by the company.