Crypto fund appoints compliance head

Bitcoin growth fund provider Monochrome Asset Management has appointed Derek Henningsen as its head of legal and compliance.

Henningsen comes from IFM Investors where he spent the last two years as associate director and head of fund and mandate compliance. He's also held legal counsel roles with Bell Asset Management and Australian Unity, and spent nearly four years as a panel case manager with the Financial Ombudsman Service.

"We've always had the strong belief that regulation is absolutely necessary for our industry to continue to strive in a sustainable way, and we see Derek's involvement as key to better allow us to work alongside regulators to facilitate this," said Monochrome CEO Jeff Yew. "Derek will add valuable insights and leadership with his legal and compliance expertise in finance, funds management, and the digital asset industry."

Henningsen said Monochrome's executive leadership experience and marketplace reputation attracted him to the role. "As an industry, we've made huge inroads in achieving the recognition of the asset class, but this is just the beginning. We have a long way to go, and I'm proud to be playing a role in growing the institutional adoption of digital assets in Australia."