Former Citi exec joins Provenance Blockchain Foundation as CEO

A former Citigroup executive has become the latest member of the banking-to-crypto recruitment pipeline, having joined the Provenance Blockchain Foundation as its CEO.

According to a statement from Provenance, Morgan McKenney’s remit will include partnering with a range of financial institutions, fintechs and developers to lead the growth and adoption of Provenance’s blockchain, which has been designed specifically for the financial services industry.

McKenney has a background in innovation, having most recently served as special advisor at Centre, a consortium to promote trusted use of fiat-backed stablecoins, and as a Bain expert advisor in digital assets. She also spent over a decade at Citi in a range of senior operating roles globally, most recently as COO for global consumer banking.

Citi is in the process of exiting consumer-facing services in many markets around the world to focus on commercial banking and wealth management. 

Since its inception, Provenance’s ecosystem has grown to serve more than 50 financial institutions transacting on its infrastructure. It also serves as host to the USDF Consortium, which provides a bank-minted, tokenized deposit system and 24-hour payment rail. 

McKenney joins a steady stream of banking alumni in crypto. The list of moves has recently included Marieke Flament to the NEAR Foundation from Natwest’s fintech Mettle and Barclays UK CEO of wealth management and investment Dirk Lee to Bitcoin Suisse.