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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

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Facebook : Libra cryptocurrency taps ex-HSBC exec as CFO of payments unit

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10/15/2020 | 11:31am EDT
FILE PHOTO: Small toy figures are seen on representations of the virtual currency before the displayed European Union flag and the Facebook Libra logo in this illustration picture

LONDON (Reuters) - Another former HSBC executive is heading to the Facebook-backed Libra cryptocurrency project, joining as chief financial officer of a unit tasked with managing the planned digital currency's payments system.

The Geneva-based Libra Association, which plans to issue and govern the Libra cryptocurrency, said in a statement it has appointed Ian Jenkins as CFO and chief risk officer of Libra Networks.

Jenkins is HSBC's former business finance head and group general manager, the association said. He has also previously worked at Credit Suisse and Santander.

Financial leaders of the world's seven biggest economies said on Tuesday that no stablecoin - a type of cryptocurrency, such as Libra, that is often backed by traditional assets - should begin operation until it was properly regulated.

The Libra project, unveiled by Facebook last year, was relaunched in slimmed-down form in April after regulators and central banks across the world raised concerns it could upset financial stability and erode mainstream power over money.

Libra is now seeking to issue a series of stablecoins backed by individual traditional currencies. It has hired a number of senior executives since applying for a Swiss payments license in April, many of them are specialised in financial compliance and with ties to U.S. government and authorities.

In September the project appointed former HSBC European head James Emmett to lead Libra Networks. It also tapped HSBC's former chief legal officer Stuart Levey - formerly a U.S. Treasury official during the Bush and Obama administrations - to head the association itself.

(Reporting by Tom Wilson; Editing by Dhara Ranasinghe and Frances Kerry)

By Tom Wilson


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Financials (USD)
Sales 2020 80 415 M - -
Net income 2020 23 375 M - -
Net cash 2020 62 594 M - -
P/E ratio 2020 34,7x
Yield 2020 -
Capitalization 800 B 800 B -
EV / Sales 2020 9,17x
EV / Sales 2021 7,17x
Nbr of Employees 52 534
Free-Float 83,8%
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Mean consensus BUY
Number of Analysts 49
Average target price 298,40 $
Last Close Price 280,83 $
Spread / Highest target 21,1%
Spread / Average Target 6,25%
Spread / Lowest Target -57,3%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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