Phil Shelley, a former Goldman Sachs banker and founder of Arlington Capital Markets, has been appointed to the role of chairman at ALT/AVE, a new regtech startup that uses distributed ledger technology to support document management and exchange in financial services.
Shelley has more than 23 years of experience in investment banking and is currently chairman of WH Ireland, a financial services and wealth management company. He has also been vice chairman at Barclays Investment Bank and head of UK corporate broking and equity capital markets at Goldman Sachs International.
UK-based ALT/AVE uses distributed ledger technology to provide financial institutions with a durable medium to send regulated documents to their customers, in compliance with Financial Conduct Authority requirements.
Its flagship solution, docStribute, uses a decentralised hashgraph network known as Hedera, the only public ledger that uses hashgraph consensus, an alternative to blockchain.
Commenting on the appointment of Shelley, Chris Ansara, founder and chief executive officer of ALT/AVE, says: “We are extremely excited to have Phil join the ALT/AVE team as chairman of the board. His impressive background and breadth of industry experience will play a crucial role in enabling the company to reach its next level of success.”
“As we take on the challenge of digitising what has long been a manual and outdated process of financial institutions sending paper documents to banking customers, Phil’s role as chairman opens up new avenues of opportunity and marks a significant moment in the history of our organisation.”
Shelley adds: “I am delighted to be joining ALT/AVE at this exciting time. The team has created a product which clearly meets a pressing need for the financial services sector. It combines regulatory compliance with high levels of security and improved customer experience whilst reducing paper usage. There is much to do but the work our team has already done means we can look forward to an exciting future.”