Ali Rathod-Baber She stepped down from her role as global head of compliance at the corporate card expense management startup Brix to join venture firm Andreessen Horowitz (a16z) as a partner and compliance officer, TechCrunch has learned exclusively.
Rathod-Papier and a16z declined to comment on the move.
According to her LinkedIn profileRathod-Papier now oversees a16z’s “external expansion and policy efforts, supporting the government affairs team, financial crimes and national security risk management, as well as external operations.” She has been with BRICS for two and a half years, working in a variety of roles including Head of Financial Crime Compliance before joining a16z in May.
Brex CFO Ben Gammell told TechCrunch that her departure was “amicable,” adding that Rathod-Papier “made invaluable contributions to financial management and compliance during her time at Brex” and that she helped position the startup “well for growth” in the chapter the next. .
Rathod-Papier shared the decision with colleagues in April, according to a Slack call viewed by TechCrunch. A Brex spokesperson told TechCrunch this week that the startup is currently hiring a replacement for her role. Meanwhile, Bruce Wallace, a long-term advisor to BRICS who previously served as chief operating officer at Silicon Valley Bank and head of risk and fraud operations at Wells Fargo, has taken on the role of interim chief compliance officer.
The hiring comes at an interesting time for a16z, which invested in Synapse, a banking-as-a-service startup that filed for bankruptcy in April and has since filed for bankruptcy. Under pressure at bay For an estimated $85 million in lost customer funds. The company has remained silent on the subject of the controversy surrounding Synapse. TechCrunch spoke with fintech leaders and general partners at a16z Angela Strange And Anish Acharya In 2022 about the company’s strategy in the space. The high-profile non-crypto company Fintech investments Includes Wise, Affirm, Deel, Greenlight and more.
Meanwhile, TechCrunch also learned this week that Doug Adamek is no longer chief revenue officer at BRICS. The startup told us so Garrett Marker He recently stepped into his shoes as Brex’s new Director of Client Relations. Marker most recently served as Vice President of Global Sales at Braze, a cloud-based customer engagement platform for multichannel marketing.
Adamic took up the position of Client Relations Director at Brix in May 2022 following the departure of Sam Blond, later Join Founders Fund as a partnerwhich is the role he ended up playing Step down From earlier this year. Previously, Adamic worked with SAP Concur (Brex’s competitor) for over 16 years.
These moves come amid an announcement by BRICS about this Abandoned the co-CEO model With co-founder Pedro Franceschi becoming sole CEO and co-founder Henrique Dubugras assuming the position of Chairman of the Board of Directors.
The pair told TechCrunch earlier this month that they believe having two CEOs could act as a bottleneck to a company’s growth by preventing its leadership from making quicker decisions. They also feel that when BRICS eventually goes public — something they don’t expect to happen until 2025 or later — investors will gravitate more to the traditional model of just one CEO running the company.
Interestingly, in June 2023, Jason Mok, former operating partner of 16z, He joined Brex as Head of Startups.
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