Blockchain startup Chain has named a Goldman Sachs managing director as its new president.

Tom Jessop is joining the firm after serving as Goldman's managing director for business technology development since January 2016, according to LinkedIn.

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Between 2008 and 2012, he served as managing director for principal strategic investments, serving stints in Hong Kong and New York. He served as a vice president for the Wall Street investment bank between 2000 and 2008. Prior to working for Goldman Sachs, worked for credit ratings firm Standard & Poor’s.

According to Chain, Jessop will be chiefly responsible for pursuing commercial opportunities for the firm.

He said in a statement:

"I am excited to collaborate with Chain's team, customers, and strategic partners to accelerate the adoption of blockchain technology in financial services and other industries."

Jessop is far from the first Goldmanite to head for the blockchain space.

Earlier this year, a former Sachs vice president sought to take on the traditional hedge fund concept using blockchain. And in early 2016, the Blythe Masters-led Digital Asset Holdings tapped another ex-VP to serve as a senior software developer. The digital currency exchange space has also attracted veterans of the firm over the years.

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