Zodia Custody Faces Leadership Shake-up as CFO Hugh Departs

In a significant development for the institutional crypto custody sector, Zodia Custody has confirmed the departure of its Chief Financial Officer, Jonathan Hugh, marking the second high-profile exit from the London-based firm in recent months.

Key Leadership Changes at Zodia Custody

The departure comes during a period of rapid expansion for the Standard Chartered-backed crypto custodian. Hugh’s exit follows closely behind that of former COO Samuel Howe, signaling a notable leadership transition at the firm.

Company Growth Despite Executive Transitions

Despite the leadership changes, Zodia Custody has maintained strong growth momentum:

• Employee count increased from 97 in 2023 to 140 globally in 2025
• Plans for market expansion and deeper presence in existing jurisdictions
• Continued backing from major financial institutions including Standard Chartered Bank, SBI Group, Northern Trust, and National Australia Bank

Hugh’s Industry Background and Impact

Jonathan Hugh brought significant experience to Zodia Custody, having previously served as CFO at crypto market maker GSR. His traditional finance background included roles at ED&F Man and Noble Group in the commodities sector, highlighting the growing intersection between traditional finance and crypto custody services.

Institutional Crypto Custody Landscape

The changes at Zodia Custody come amid increasing institutional interest in crypto custody solutions. The firm’s growth trajectory and institutional backing demonstrate the maturing crypto custody sector, despite executive turnover.

FAQ Section

What is Zodia Custody’s current market position?

Zodia Custody is a leading institutional crypto custodian backed by major banks and financial institutions, serving the growing demand for secure digital asset custody solutions.

How has the company’s growth trajectory been affected?

Despite leadership changes, the company has shown strong growth, expanding from 97 to 140 employees and planning further market expansion.

What does this mean for institutional crypto custody?

The continued growth and institutional backing of Zodia Custody, even amid executive changes, indicates sustained momentum in the institutional crypto custody sector.