The growth of Cryptocurrency in Europe is Leading to an Increase in Hiring Associates from Investment Banks by Crypto Firms

Europe’s Newest Crypto Unicorn is Hiring Like Crazy. Trade of Cryptocurrencies as it expands its presence in Europe, Coinbase has developed a liking for employing investment bank staff. It isn’t the only cryptocurrency company with a strong desire to hire. 

Bitpanda, the Vienna-based cryptocurrency trading platform founded by Peter Thiel and which recently raised $263 million, is hiring with a fervor rarely seen in traditional asset classes. It already employs slightly over 500 people, up from roughly 200 at this time last year, and has over 150 fresh job openings, meaning a 30 percent increase in staff is on the cards. 

The rate of recruiting at Bitpanda appears to be increasing exponentially: Thirteen of the new positions are for expert recruiters who work in a variety of fields, from technology to the C-suite. While Bitpanda’s headquarters are in Vienna, the company has offices in Berlin, Barcelona, Krakow, London, and Dublin where it is hiring for remote positions and responsibilities. The primary draw, as with any start-up, is pre-IPO stock. 

As of now there are only a few ex-bankers and traders on Bitpanda’s books. Aga Korycka, a business development manager at Bitpanda, turned down a job offer from Goldman Sachs as an analyst in 2019. Andrew Cochrane, a Dublin-based head of treasury, has joined from AIG. Daniel Castillo, a finance project manager in corporate development and strategy, previously worked at Banco Sabadell in Madrid as an equity capital markets (ECM) associate. Matthias Bauer-Langgartner, a former technical specialist at the Financial Conduct Authority (FCA), has been hired to handle the firm’s business in the UK and Ireland. 

Bitpanda appears to be on track to plunder banks more extensively as it grows. Liquidity risk, treasury trading, in-house corporate finance, and ETF sales are among the current openings. 

The majority of the openings are for programmers. It’s unclear how much Bitpanda pays, but Selby Jennings, a recruitment firm, estimates that excellent crypto coders can earn between $200k and $250k. 

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