From Trump to blockchain: Gary Cohn signs on with Spring Labs

Gary Cohn, former chief economic adviser to US President Donald Trump, has joined blockchain startup Spring Labs’ board of advisers.

“I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others,” says Cohn, whose CV includes a stint as President and Chief Operating Officer of Goldman Sachs. “I am excited to actively support their team in the development of this important business and network.”

Avant

Earlier this year, Spring Labs wrapped a $14.75 million seed fundraising round. The venture was set up by members of the founding team and board of Avant, a lending platform and technology company that has served more than 600,000 customers and originated more than $5 billion of loans on its platform.

Avant, through its SaaS business Amount, helps large financial institutions digitise their credit offerings and manage their fraud and risk exposure with products like AmountVerify. Spring Labs partners with Amount to offer both companies’ technologies to banks.

“Gary brings a wealth of experience in understanding the complexities of the global financial markets and an unparalleled network. We’re beyond excited to work with him to execute on our vision to transform how information and data are shared globally across a host of major industries,” says Adam Jiwan, Chairman and CEO of Spring Labs.

“We’re also looking forward to making some public announcements regarding the development of the network and partnerships in the coming months.”

The advisory board also includes Sheila Bair, the former Chair of the US Federal Deposit Insurance Corporation (FDIC),  and Nigel Morris, Co-Founder and former President of Capital One, and Co-founder of QED Investors.