Anchorage Digital Bank Adds Former Goldman Sachs Executive to Board of Directors

Anchorage Digital Bank Welcomes Former Goldman Sachs Executive to Board of Directors


Sujha Sundararajan
Last updated:
June 14, 2024 01:28 EDT
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1 min read


Anchorage Digital Bank, an institutional crypto custody platform, has proudly announced the addition of Connie Shoemaker, a former executive at Goldman Sachs, to its board of directors.
As the ex-Chief Administrative Officer at Goldman Sachs, Shoemaker will be joining the current independent board members, bringing her expertise in banking regulation and compliance, the company stated.
Currently serving as the COO and CFO of Bridgewater Associates Holdings, the parent company of Bridgewater Associates, Shoemaker’s appointment reflects Anchorage Digital Bank’s dedication to providing the best-regulated services for institutions involved in the crypto space, according to Nathan McCauley, President of Anchorage Digital Bank.
Specializing in trust and custodial services, Anchorage Digital Bank, a federally chartered crypto-focused bank, recently launched a crypto settlement network to cater to institutional clients seeking to enhance their digital asset trading activities.
Shoemaker, who previously held the position of global head of Goldman’s strategy function, played a key role in developing new business initiatives across the firm and expanding the asset management business.
Expressing her enthusiasm for joining the board, Shoemaker stated, “I’ve witnessed tremendous growth at Anchorage. Today, I am thrilled to contribute to further propel this growth with my experience in building a bank, particularly at the type of institution that Anchorage Digital Bank is attracting.”
Anchorage Digital Bank’s Workforce Restructuring
In response to regulatory uncertainties, Anchorage Digital Bank made the difficult decision to reduce its workforce by laying off 75 employees, which accounted for approximately 20% of its staff, in June of the previous year.
Based in San Francisco, Anchorage Digital Bank has encountered challenges with US regulators, with the Office of the Comptroller of the Currency criticizing the bank’s compliance program in 2022 for lacking adequate staff and internal processes, including anti-money laundering controls.
At the time, the regulatory authority also highlighted the bank’s failure to implement essential controls to prevent money laundering and report suspicious activities.
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