Zodia Custody reshuffles leadership ahead of Standard Chartered takeover: Report

Julian Sawyer is handing over day-to-day leadership of Zodia Custody as Standard Chartered prepares to acquire the digital assets custodian and establish Zodia Solutions, according to a Sept. 10 memo to employees obtained by CoinDesk.

Richard Clark, Zodia Custody’s chief revenue officer, will oversee the custody business during its transition into Standard Chartered, while Craig Perrin and Anoosh Arevshatian will lead Zodia Solutions.

Sawyer, who has served as CEO since January 2023 at the London-based firm, will remain closely involved and support an orderly transition across both businesses.

The leadership change comes as Standard Chartered moves forward with plans to acquire Zodia Custody’s regulated custody operations. The bank announced the agreement in principle in May, with the deal being accepted by shareholders and noteholders. The transaction still requires regulatory approval and other customary closing conditions and has not been publicly confirmed as completed.

Under the restructuring, Zodia Custody’s regulated custody business will be folded into Standard Chartered’s Financing and Securities Services division, while its institutional digital asset infrastructure will be separated into a new entity called Zodia Solutions. SC Ventures will hold a majority stake in the new company.

Sawyer had previously been reported as the expected leader of Zodia Solutions, but will instead take on an advisory role.