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Two key Members Have Left the R3 Consortium

by on October 2, 2017

There have been a fair few changes affecting the R3 consortium so far. In recent news, the company has lost two key employees. More specifically, two of their more public faces have left the group in favor of new ventures. Both Tim Grant and Tim Swanson are no longer affiliated with this consortium as we speak. A rather unexpected surprise, although it shouldn’t have any impact on project development itself for now.

It is always odd to see employees leave a company out of the blue. While there will always be bigger and better opportunities ahead, the departure of both Tims surprises a lot of people. More specifically, with both Tim Gant and Tim Swanson gone, things will get rather interesting for R3. Swanson is the director of market research, whereas Grant is the head of global business development. It seems both individuals will start their own businesses in the future.

Some big Changes for the R3 Consortium

According to Charley Cooper, these are growing pains of a maturing company. An interesting train of thought, even though some people will disagree. The R3 consortium certainly has seen its fair share of struggles over the past few months, that much is evident. Having key members of the team depart all of a sudden shows there may still be internal struggles. It is unclear what those struggles would entail exactly, though.

It does appear both Swanson and Grant will keep in touch with the consortium moving forward. That is somewhat surprising, although it is not entirely unusual either. Swanson will stay on as an advisor for the time being. However, his main focus lies with the consultancy he founded to help fintech firms navigate regulatory challenges, among other things. With all of this new knowledge under his belt, things may get pretty competitive in this industry moving forward.

Grant, on the other hand, seems to be a complementing service to R3. More specifically, his firm will provide consulting services to companies working with R3’s Corda. He will not remain as an advisor or any other role within the company, for the time being, though. Then again, it is fairly obvious he will be in touch with the R3 team on more than one occasion in the coming months. It will be interesting to see how things play out for both Tims in this regard. Moreover, none of this should affect R3 itself, although they will need to hire some new people by the look of things.

Header image courtesy of Shutterstock

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.
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