Silvergate Capital in La Jolla, Calif., has a new president.
The $15.5 billion-asset company said in a press release that Ben Reynolds had taken on the role. He succeeded Alan Lane, who remains CEO.
Reynolds joined Silvergate in 2016 to lead the growth of its digital asset initiative. He has held various roles, including business development, operations, product and strategy functions.
Silvergate also named Kate Fraher as its chief risk officer. She joined Silvergate in 2006 and has held several roles, including operations, BSA, compliance and risk management functions.
“We are excited about these new roles, which will benefit Silvergate as we continue to grow and mature as an organization,” Lane said in the release.
“Serving the digital asset industry requires that we continue to innovate and deliver products requested by our customers while maintaining strict risk management practices,” Lane added. “We’ve always approached this opportunity with prudence, and a great deal of our success over the past nine years is attributed to Ben, Kate and the teams they have led.”