Coinbase has appointed Jeff Horowitz, who has spent almost 12 years at Pershing LLC and has spent the last three years as its global head of compliance and managing director, to be its new Chief Compliance Officer.

Pershing LLC, a BNY Mellon Company, is one of the largest providers of brokerage custody, clearing and settlement services in the world. Coinbase expects Horowitz's experience to come in handy as it adds new services such as Coinbase Custody and its recently announced acquisition of a licensed broker-dealer.

Before he secured the top compliance job at Pershing, Horowitz was the firm’s chief compliance officer and global head of its anti-money-laundering and compliance programmes.

Before joining Pershing, he led various compliance and AML programmes at Citigroup, Goldman Sachs and Salomon Brothers. He previously served as a banking regulator at the Federal Deposit Insurance Corporation or FDIC, and had served twice as a member of the US Financial Crimes Enforcement Network's Bank Secrecy Act Advisory Group. He also sits on numerous industry and regulatory committees, including the Security Industry and Financial Markets Association’s compliance and regulatory policy committee and the Financial Industry Regulatory Authority’s compliance and advisory committee. He is extremely experienced in managing matters related to broker-dealer regulation, asset custodianship and AML efforts.

Coinbase's chief legal and risk officer, Mike Lempres, will now concentrate exclusively on leading Coinbase's government relations effort.