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Ex-Citi executive jumps to crypto, takes reins at blockchain company Provenance

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Another Wall Street executive is departing the hallowed halls of traditional finance for the rough and tumble world of cryptocurrency.

Morgan McKenney, the chief operating officer of Citigroup’s (C) global consumer banking arm and an 18-year veteran of the financial behemoth, is assuming the role of CEO for a company called Provenance Blockchain Foundation, effective Tuesday. She recently took a sabbatical from Citi — and realized digital assets are the future of finance.

McKenney told Yahoo Finance in an exclusive interview that during that time, “I spoke with 80-plus fintechs, entrepreneurs, [venture capitalists], and innovation people, and it became incredibly clear that digital is disrupting financial services in very foundational ways.”

Financial services have always been done through trusted intermediaries, whether instructing the bank to send money, or telling your broker to sell stocks. But blockchain is changing the underlying banking infrastructure layer to allow two parties that don’t know each other to bilaterally agree and move those assets in real…

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