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Quant Startups Lure Quant Whizzes from Wallstreet

As banks defer compensation and add more clawback provisions that give them the right to limit bonuses, traders are seeing better risk opportunities elsewhere, said San Francisco-based Rick Henri Chan, chief operating officer at Airbitz, a digital wallet platform.

Chan, 47, who joined the bitcoin industry three years ago, worked for Deutsche Bank as head of its over-the-counter derivatives technology in Japan, and was a trader at UBS and Morgan Stanley.

He works long hours at Airbitz, doing everything from strategy to raising money, but the work environment is more flexible. At Deutsche, Chan had a multi-million dollar package, and he admits to missing that paycheck.

“But we’re doing something special here at Airbitz. And I do think our company will be valued at a lot more in the future,” he said.

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