According to a Ripple blog post, O’Connor will “provide counsel on key government relations and regulatory initiatives” as part of her role on the board. O’Connor worked at JPMorgan for 31 years, serving as chief regulatory affairs officer and treasurer for the bank before retiring in 2019. She has been a systemic resolution advisory committee member for the Federal Deposit Insurance Corporation (FDIC), since July.
According to Cointelegraph, CEO Brad Garlinghouse stated O’Connor’s “extensive network and in-depth understanding of markets, capital flows and banking” would help Ripple build “a more inclusive financial system.”
“The U.S. needs a single clear regulatory framework for crypto that levels the playing field and supports American innovation and companies,” stated Garlinghouse, noting the addition of O’Connor may help the firm toward this path.
Garlinghouse and Ripple’s co-founder Chris Larsen have both previously said the lack of regulatory clarity from the United States may drive the firm to move its headquarters from San Francisco to another country. Ripple opened a regional office in Dubai past month and a board member has stated Japan may be the “most promising candidate” for the company’s new headquarters.