POPA ReconEvernorth’s new CIO Hugo Jeandesboz will lead investment management for its 473 million XRP treasury as the company begins trading on Nasdaq as XRPN.
Appointment and mandate
Evernorth announced on October 12 that Jeandesboz joined as Chief Investment Officer. He will lead the XRP treasury strategy across allocation, liquidity management, and active management of the holdings, according to Evernorth’s announcement. The company says it expects his experience to help build its strategy, risk framework, and institutional access to the XRP economy in a follow-up post.
Background and timing
Jeandesboz previously served as Co-Chief Investment Officer at Coinbase Asset Management and led its Solutions investment strategies, according to Evernorth’s appointment post and the reported announcement. Evernorth said on October 9 that it had completed its business combination with Armada Acquisition Corp. II and that its common stock was expected to begin trading on Nasdaq under XRPN on October 12 in its merger announcement. The 473 million XRP is the treasury figure Evernorth reported around the merger and appointment; the hiring announcement does not describe a new purchase.
Links
Evernorth appointment · Merger announcement · The Block report