CoinDesk
Julian Sawyer is stepping down as CEO of institutional crypto custodian Zodia Custody and transitioning into a strategic-adviser role, according to an internal memo sent to employees on September 10. Richard Clark, Zodia's chief revenue officer, will lead the business through its integration into Standard Chartered.
The move marks a departure from plans announced in May, when SC Ventures said Sawyer would become CEO of Zodia Solutions, the new infrastructure and professional-services entity that would be carved out from the acquisition. Instead, Craig Perrin and Anoosh Arevshatian will lead Zodia Solutions' development, while Sawyer said he would support an orderly transition across both businesses.
Why it matters
The leadership reshuffle arrives as Standard Chartered's acquisition of Zodia's regulated custody activities, which would fold them into the bank's Financing and Securities Services division, remains subject to regulatory approvals. The transaction was expected to close by end of August; that deadline has passed without a public confirmation from either party.
Market impact
For institutional clients and counterparties, the key question is timing. Zodia Custody provides regulated safekeeping, wallet infrastructure, staking and off-exchange settlement to financial institutions and asset managers. Any extended delay in regulatory sign-off prolongs uncertainty over which entity and leadership team holds operational responsibility for those services.
Frequently asked questions
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Why is Julian Sawyer stepping down as Zodia Custody CEO?
Sawyer said the pending acquisition of Zodia's custody business by Standard Chartered and the creation of Zodia Solutions represented a natural point to hand over day-to-day leadership while remaining involved as a strategic adviser.
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Who will run Zodia Custody after Sawyer's departure?
Richard Clark, Zodia's chief revenue officer, will lead the custody business through its transition into Standard Chartered. Craig Perrin and Anoosh Arevshatian will lead the development of Zodia Solutions.
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Has Standard Chartered completed its acquisition of Zodia Custody?
No. The deal was expected to close by end of August but has not been publicly confirmed as complete. A Zodia spokesperson said closure remains subject to regulatory approvals and customary closing conditions.
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What happens to Zodia's business under the Standard Chartered deal?
Zodia's regulated custody activities would be absorbed into Standard Chartered's Financing and Securities Services division, while its infrastructure platform would be separated into a new entity called Zodia Solutions under SC Ventures.
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What services does Zodia Custody provide to institutional clients?
Zodia Custody provides regulated safekeeping, wallet infrastructure, staking and off-exchange settlement services to financial institutions, asset managers and other institutional clients from its London base.
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