Winklevoss Twins Snatch NYSE Cornish to Act as Gemini's First Chief Tech Officer

Industry 1 min, 51 sec READ

by MIchael Collins

Robert Cornish departs from the New York Stock Exchange for Gemini as Wall Street executives trend towards blockchain and cryptocurrency.

Wall Street’s presence in the blockchain arena continues to blossom as Robert Cornish, former chief information officer for the New York Stock Exchange, joins Gemini as the firm’s first chief technology officer.

The move by Gemini Trust, a cryptocurrency exchange founded by the infamous twins, Cameron and Tyler Winklevoss, is another sign of the move of the cryptocurrency sector towards the mainstream. In his previous position as NYSE's chief information officer, Robert Cornish was charged with overseeing the Big Board's ongoing electronic trading overhaul. He is expected to join Gemini later this month, where he will take charge of the company's technology initiatives, team, and strategy, in addition to managing the distribution of SMARTS Market Surveillance technology, allowing the exchange to monitor trading and comply with regulations.

Amidst a budding exodus of Wall Street professionals to startup firms and new-age tech companies, Cornish seems to be a key figure in the changing finance world, making him an attractive name for Gemini and the Winklevoss twins who still have an eye on building a Bitcoin EFT.

He understands what a large, regulated engineering organization looks and feels like [...] As much as we are a technology startup, we are also a regulated trust company.

Gemini's move comes on the heels of several hires of experts from the traditional finance world by cryptocurrency projects. Coinbase, a San Francisco based exchange, made headlines earlier this week with the addition of former NYSE executive Peter Elkins, who is expected to head the firm’s new Coinbase Trade Surveillance Program.

Heightening standards for companies in the blockchain and cryptocurrency environment is creating remarkable opportunity for professionals in industries. Investors may be excited by the idea of a Bitcoin EFT, but names like Cornish still need a functional platform approved by governmental agencies. Firms taking on new security and surveillance heads are more likely to produce results in the short-term. Establishing a foundation of self-regulatory standards on par with agencies like the SEC and CFTC should provide initial momentum towards practical utility and facilitated trading of tokens.