Avenu recently welcomed Deborah Arnold as Director of Unclaimed Securities Custody Solutions. Deborah is tenacious about keeping ahead of industry trends so that she can effectively develop innovative process improvements and service expansions for our clients. Today we offer some insight into her background and insight into industry trends.
Deborah, you are filling a very important role for our clients and I’m sure people would like to know more about you. Can you briefly share your background?
Of course! I served the last 16 years as Vice President / Director for both State Street Bank & Trust Company and Investors Bank & Trust Company. My area of expertise is in financial services. My background has focused on custody and accounting for Mutual Fund and Private Equity clients as well as Investor Servicing/Transfer Agency for Hedge Fund clients..
What drew you to Avenu?
I find it exciting to work for a company that is the nation’s leading unclaimed securities custody provider managing $2 Billion in unclaimed securities and whose reputation is built on 30 years of experience. I was also drawn to the prospect of being part of a company that is in the business of helping States find and recover revenue for themselves and rightful owners.
What trends are you seeing in the securities industry?
Cryptocurrency was introduced roughly in 2009 and is now at the tipping point of taking-off and becoming more mainstream. I believe that it won’t be long before we see all local coffeeshops accepting Bitcoin or other cryptocurrencies.
What does that mean for our Unclaimed Property clients?
As with all unclaimed securities, States will have to follow a sound and consistent process to take-in, safekeep and return cryptocurrencies to the rightful owners.
Avenu understands this and has established a strong partnership with Gemini, a licensed Digital Asset exchange. This partnership helps us provide to States a means to receive-in, liquidate, transfer and hold 40 of the most widely used cryptocurrencies out there right now. This puts us in the forefront and has been a huge interest for all our clients.
Starting a new role during a pandemic must have its challenges. What are you looking forward to this year?
As more the country opens-up more, I’m excited about having more face-to-face meetings with team members and clients.
I understand you live by our Quincy, Massachusetts office. Are you originally from the Boston area?
Both my husband and I grew-up in Pittsburgh and were high school sweethearts. We moved to Boston after we got married and remain steadfast Steeler and Penguins fans which is difficult in Patriot and Bruins territory. I’m proud to say that both our son and daughter who are now grown are also Steeler and Penguins fans. Although they draw the line for baseball and remain loyal to the Red Sox!
That must take a certain resolve to remain loyal to your home team, especially during the Brady era. Do you and your husband root for the same college teams?
This is where there’s a division between us. My husband went to Boston College and I went to Penn State…Go Nittany Lions!