Barclays Blockchain Veteran Departs Bank for FinTech Consultancy

A member of the Barclays blockchain team has revealed to Business Insider he will be departing the UK banking giant to join a FinTech consultancy called 11:FS.

Simon Taylor, formerly VP of entrepreneurial partnerships at Barclays, will depart the bank on 24th June. Taylor has long been one of the bank’s more outspoken members on matters relating to distributed ledgers and blockchain, frequently opined on the subject on social media and in published posts.

Taylor told CoinDesk his role will be to consult and educate banks on blockchain tech and advising the company's planned investment fund.

At the firm, Taylor joins Financial Services Club (FSC) chair Chris Skinner; former head of digital banking at Gartner David Brear; and Mondo banking app co-founder Jason Bates.

Together, the team is seeking to raise $100m in part to build a portfolio of blockchain investments, as well as to provide consultancy and research services.

The fund has raised $5m as of April, and is hoping to raise additional capital from mid-sized banks. Skinner told CoinDesk Thomas Labenbacher, a veteran of Fidor Bank and Western Union will serve as managing director of the fund, while Brear will be its lead partner.

In statements, Barclays confirmed the departure, stating that "no direct replacement" had yet been named for Taylor.

Barclays image via Shutterstock