Facebook's Libra Association elevates Ian Jenkins as CFO

Former HSBC exec. Ian Jenkins has been chaired as Chief Financial Officer (CFO) and Chief Risk Officer (CRO) by Facebook-backed stable coin project Libra Association. The appointment comes as a part of its latest senior management restructuring strategy.

Jenkins’s new role will focus on global finance, risk and strategy to make the project move in an operational phase.

“I am excited to join the Libra Networks leadership team at a time when innovation in the financial sector has the potential to empower billions of people worldwide,” said the new CFO.

However, G7 leaders in a meeting this week have said that no stablecoin, including Libra, can start operating until it adequately addresses relevant legal, regulatory and oversight requirements through appropriate regulations are in place. The meeting was attended by the finance ministers and central bankers from the U.S., Canada, Japan, Germany, France, Italy and Britain.

A vast experience of three decades, Jenkins has diverse knowledge in risk and finance transformation programs, cost leadership, business partnering and global operating model transformation.

Earlier, he had served as HSBC’s Head of Business Finance and Group General Manager.

His LinkedIn profile page describes him as a change leader with experience in a wide range of senior leadership roles. These are visible in multiple roles within the bank ranging from COO, Global Functions to CFO and Deputy Finance Director, HSBC Holdings plc.

He has also worked with Santander UK as CRO and Credit Suisse as MD, Global Head of Product Control; COO, Asia Pacific and Head of Product Control within the organization.

A chartered accountant by profession, he is an alumni from the Institute of Chartered Accountants in England and Wales, he has a Masters’ degree in Systems Engineering from the City, University of London.

Libra is a permissioned blockchain-based payment system proposed by the American social media company Facebook, Inc. The project includes a private currency implemented as a cryptocurrency.