Ex-Goldman Sachs partner joins Hong Kong crypto unicorn

Hong Kong-headquartered cryptocurrency finance service provider, Amber Group, has bolstered its team as it prepares for an IPO within the next 2 years.

Former Goldman Sachs Partner Dr. Dimitrios Kavvathas has been appointed as the firm’s new Chief Strategy Officer.

Before joining Amber Group, Dr. Kavvathas spent 12 years at Goldman Sachs as a Managing Director and Partner in London before moving to Hong Kong in 2009 to co-head the firm’s Asia Pacific Securities Division Distribution, where he also served on the board of Goldman Sachs, Asia LLC.

After retiring from Goldman Sachs in 2013, Dr. Kavvathas was appointed adjunct professor at the University of Hong Kong, while working as VTB Capital’s Head of Global Markets, Asia Pacific, Noble Group’s co-Head of Financial Services, and CIO of Harmony Advisors Ltd., a Hong Kong-based asset management firm.

More recently, Dr. Kavvathas co-founded Nomisma Holdings Pte. Ltd, a decentralized derivatives trading protocol used within regulated trading infrastructure.

This is where Dr. Kavvathas was introduced to Amber Group, with the protocol now being integrated into Amber’s operations.

“Dr. Kavvathas is an outstanding addition to the team, and he will have a significant influence on the organization’s success,” said Michael Wu, CEO of Amber Group.

“With expertise in Asset Management, Cryptocurrencies, and Financial Derivatives, Dr. Kavvathas will ensure we continue to build upon the already strong momentum across Amber Group’s core businesses.

“In addition, Dr. Kavvathas’ ability to formulate and execute our initiatives will help optimize the firm’s complex organizational financial structure.”

Amber Group IPO

Amber Group has been an Hong Kong startup success story, quickly rising to unicorn status.

The company was founded in 2017 by a group of quantitative traders from Morgan Stanley and now manages more than $1.5 billion in crypto assets for institutional and retail clients.

To date, Amber Group has raised a total of $128 million in funding from investors including:

  • China Renaissance Group
  • Tiger Global Management
  • DCM Ventures
  • Tiger Brokers
  • Sky9 Capital
  • Arena Holdings
  • Tru Arrow Partners
  • A&T Capital
  • Gobi Partners
  • Paradigm
  • Pantera Capital
  • Coinbase Ventures
  • Blockchain.com
  • Polychain Capital
  • Dragonfly Capital
  • Fenbushi Capital

In now has close to 400 staff, operating in offices in Hong Kong, Taipei, Seoul, and Vancouver.

In a recent interview with the South China Monring Post, Amber Group co-founder and CEO Michael Wu revealed the firm is planning for a public listing within the next two years.

“The US is a likely destination, but we’re open-minded,” he said.