Fed hires former TD Ameritrade head of digital assets

The former top executive of the online broker TD Ameritrade, Sunayna Tuteja, has been appointed chief innovation officer at the Federal Reserve Bank of Richmond.

We are pleased to announce the appointment of Sunayna Tuteja as the Federal Reserve System’s chief #innovation officer! She will lead efforts to identify, research, enable and advocate for new technologies while fostering a culture of experimentation: https://t.co/7ltuh8JI4o pic.twitter.com/ON4pvek0xj

— Richmond Fed (@RichmondFed) February 22, 2021

According to the press release, Tuteja will research, implement and promote new technologies. According to information on LinkedIn, she took the role in February 2021.

The Federal Reserve Bank of Richmond is one of the 12 Federal Reserve banks. It covers the District of Columbia, Virginia, Maryland, North Carolina and South Carolina.

At TD Ameritrade, Sunayna Tuteja led the Strategic Partnerships and Digital Assets divisions at various times, and also served as managing director.

In 2018, the online broker invested an undisclosed amount in the regulated derivatives exchange ErisX to launch physically delivered futures on Bitcoin, Bitcoin Cash, Ethereum and Litecoin.

In 2020, TD Ameritrade joined an alliance to collaborate with startups in the decentralized finance sector.

In January 2021, the Fed opened a vacancy for a manager to study stablecoins. This followed the agency’s chairman Jerome Powell designating their regulation as a priority task.

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