Tony Paquette Appointed CFO of Galaxy Digital

Galaxy Digital announced on Friday that Tony Paquette will become the cryptocurrency financial services firm's new chief financial officer.

Paquette brings over 25 years of financial services and fintech experience. His most recent position was CFO at Point72, and he has also held roles as business unit leader at SoFi, as well as managing director at JPMorgan Chase and Bank of America.

Point72, an American hedge fund founded by Steve Cohen, manages over $30 billion in assets. At Point72, Paquette led global finance, treasury, broker relations, real estate, and facilities organizations. Galaxy Digital is focused on the digital asset and cryptocurrency industry, having been founded by former hedge fund manager Mike Novogratz in 2018. Galaxy recently issued a new U.S. spot Bitcoin ETF in partnership with Invesco.

Mike Novogratz stated, "We are pleased to welcome an executive of Tony's caliber to Galaxy during a period of significant growth for our firm. Tony's substantial track record of overseeing finance operations at leading finance firms will enable us to enhance our operational infrastructure and aggressively scale globally."

Paquette sits on the boards of Scholars of Finance, Junior Achievement of New York, and the Concussion Legacy Foundation. He has previously served on the boards of the Managed Funds Association and the Brown University Athletics Advisory Council and advises several fintech startups.

“I am thrilled to join Galaxy, whose reputation as a world-class operator and investor in digital assets precedes it,” stated Paquette. He expressed eagerness to expand upon Galaxy's finance team and strengthen its industry leadership.

Paquette succeeds Alex Ioffe, who will transition to a senior advisor position on January 1, 2025.

Novogratz expressed gratitude to Ioffe for building a robust finance team that prepared Galaxy for a potential U.S. listing. Ioffe played a significant role during nearly four years amid growth and market turbulence.

Bloomberg first reported the news, citing sources familiar with the appointment. Point72 confirmed the move but declined to comment further when approached by The Block.