Standard Chartered-backed Zodia Custody CEO Julian Sawyer will step down.

TechFlow reports on September 11 that, according to CoinDesk, Julian Sawyer, chief executive officer of institutional digital asset custodian Zodia Custody, will step down and transition to a strategic advisor role. Sawyer stated that with Standard Chartered Bank’s proposed acquisition of Zodia Custody’s custody business and the establishment of Zodia Solutions, it is an appropriate time to hand over day-to-day management responsibilities.

During the transition period as the business merges into Standard Chartered Bank, Zodia Custody chief revenue officer Richard Clark will oversee custody operations; Craig Perrin and Anoosh Arevshatian will lead the development of Zodia Solutions. The acquisition deal remains subject to regulatory approval and customary closing conditions, and completion has not yet been publicly confirmed.