Zug, Switzerland — Andrew Peel, the head of digital asset markets at Morgan Stanley, has resigned from the global banking giant to launch a decentralized finance (DeFi) venture, Bloomberg reported, citing sources familiar with the matter.
Peel, who joined Morgan Stanley in 2018 after a stint at Credit Suisse, stepped down from his role in March. He is now preparing to raise funds for his new firm, which will be headquartered in Zug—Switzerland’s renowned crypto hub.
According to insiders, Peel’s new venture will feature a dual focus: an asset management arm aimed at both issuing and investing in DeFi products such as tokenized funds, and a technology division that will develop trading tools tailored to help traditional finance firms enter the increasingly regulated crypto space.
The move underscores the growing trend of senior Wall Street executives pivoting toward decentralized finance as regulatory clarity improves. Peel’s departure also coincides with Morgan Stanley’s broader push into the crypto market. Earlier this year, CEO Ted Pick stated the bank is working with the U.S. Treasury and other regulators to define its role in the evolving digital asset ecosystem.
Morgan Stanley is also preparing to roll out crypto trading capabilities for retail investors through its E*Trade platform. The service, slated for launch in 2026, will grant access to over 5.2 million retail clients, marking a significant expansion of the bank’s digital asset offerings.
Peel’s exit signals a bold shift toward innovation in financial services, aiming to bridge the gap between traditional finance and the decentralized future.
