Charles Schwab exec Chris Dodds joins Coinbase board

And the venture is also reportedly finalising a deal that would value it at about $8 billion

Charles Schwab Corporation veteran Chris Dodds is joining cryptocurrency exchange Coinbase’s Board of Directors.

“Chris brings world-class leadership skills, deep knowledge of the financial services industry, and significant financial and accounting experience. His extensive expertise will be an asset to the Coinbase leadership team as we focus on scaling our business,” says Brian Armstrong, Co-founder and CEO of Coinbase.

Dodds joined Schwab in 1986, holding a variety of financial positions in treasury, corporate development, and financial planning and analysis throughout his tenure at the company. He served as Vice President of Corporate Finance and Mergers and Acquisitions from 1989 to 1993, and Treasurer from 1993 to 1997. He was also the company’s Corporate Controller, followed by eight years as Chief Financial Officer from 1999 until 2007. He transitioned to the role of Director of Schwab Bank in 2007 and joined the Board of The Charles Schwab Corporation in 2014, where he is Chairman of the Risk Committee.

In 2008, Dodds became a senior advisor in the Financial Services practice at The Carlyle Group, a private equity firm. After 10 years there, he moved to The Cynosure Group, another private equity firm, where he is currently a senior advisor.

“His addition to the Coinbase board is part of our effort to expand our financial services capabilities as we head into this next chapter for the company and the cryptocurrency industry as a whole,” says Armstrong.

Good governance

Coinbase is working on a deal that make it one of the highest-valued startups in the US at around $8 billion, recode reports.

recode notes that the company has this year been scaling up dramatically as it prepares for a possible IPO. It lost an independent director this summer, David Marcus of Facebook. IPO investors typically look for good governance, hence the addition of Dodds to its board.

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