Alex Batlin, head of blockchain lab Level39, leaves UBS

Rage Review : Alex Batlin, head of the UBS Blockchain Innovation Lab at Union Bank of Switzerland, will leave UBS in October. This is not the first time for a large bank. Previously, blockchain experts from BNP Paribas, Deloitte, JPMorgan Chase and State Street Bank also left. According to UBS's meeting minutes, the focus and discussion on blockchain technology will not change. UBS is reviewing these options for internal and external candidates, while expanding Level39 lab activities beyond the blockchain field.

Translation: Nicole

Alex Batlin, head of the blockchain innovation team at UBS, is leaving the bank.

Alex Batlin, head of the innovation lab and ‘crypto 2.0’ researcher, will leave UBS in October, according to a report from the Financial Times, which cites minutes of a meeting updated by the Swiss bank’s innovation unit on August 17.

During his tenure, Batlin served as a mentor for financial startup Level39, a research and development lab established by UBS that is an important tool for exploring distributed ledgers and digital currencies. Batlin was also responsible for analyzing the impact of these emerging technologies on the banking business model.

Alex Batlin

The minutes reportedly asserted that UBS would not change its blockchain strategy and that the move would not reduce innovation in the banking sector.

The minutes of the meeting show:

“Our interest in and interest in blockchain technology will not change, and we are reviewing options for internal and external candidates to lead the next phase of the project while expanding Level39 Labs activities beyond the blockchain space.”

According to the news report, UBS joins a string of financial firms, including BNP Paribas, Deloitte, JPMorgan Chase and State Street, that have seen several blockchain experts depart in recent months.