Facebook's cryptocurrency venture snags Risk Cooperative's founder, CEO

"I am proud to hand the reins over to my friend and business partner, Andres Franzetti," Disparte said in a statement.

“Having spent my career focused on helping the world spring back from the after-effects of complex risks, I’m honored to join the Libra Association, which addresses vital issues of financial inclusion, a key global priority and a root cause of system challenges,” Dante Disparte, Risk Cooperative’s founder and former CEO, said in a statement. (Credit: Shutterstock)

Specialized risk advisory and insurance brokerage firm Risk Cooperative announced that Dante Disparte, the firm’s founder and CEO since 2014, will transition immediately to serve as the head of policy and communication for the newly formed Libra Association, Facebook Inc.’s recently announced venture into cryptocurrency.

Andres Franzetti, one of the company’s co-founders, who has served as president and chief operating officer since January 2019, will assume the role of CEO. Additionally, Risk Cooperative has appointed Jenny Decker as director of marketing, a role through which she will continue to evolve the company’s brand, communication strategy and thought leadership.

“Now in its fifth year, I’m proud that Risk Cooperative is a near perfect reflection of the markets we serve, having become a force for change and innovation in risk, readiness and resilience,” Disparte said in a statement. “I am proud to hand the reins over to my friend and business partner, Andres Franzetti.”

Related: New privacy laws taking shape worldwide

New job, new risks

According to Fortune, Disparte noted that customers in the U.S. will be subject to so-called “know your customer” requirements, meaning they will have to provide detailed personal information to use the service. Facebook’s poor track record on user privacy, however, resulted in officials in the United States and Europe voicing their concern about the company’s plans for digital payments.

“Having spent my career focused on helping the world spring back from the after-effects of complex risks, I’m honored to join the Libra Association, which addresses vital issues of financial inclusion, a key global priority and a root cause of system challenges,” added Disparte in his statement.

Risk Cooperative, a coverholder at Lloyd’s, is a specialized strategy, risk and insurance advisory firm licensed to originate, place and service innovative risk-transfer and insurance solutions in all 50 states, the District of Columbia and Puerto Rico.

Related: Crypto startup offers insurance against Quadriga wallet dilemma

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