Oracle hires Chief Legal Officer from Facebook’s blockchain project

Oracle hires Chief Legal Officer from Facebook’s blockchain project

Oracle said Mr. Levey’s experience in technology, finance and national security will help it navigate the regulatory environment as it expands its cloud business.


Photo:

Paul Sakuma/Associated Press

Oracle corp.

said it has hired the former CEO of Meta Platforms Inc.’s

now-defunct cryptocurrency project as its new chief legal officer, the company said Thursday.

Until June, Stuart Levey served as CEO of the Diem Association, Meta Platform’s cryptocurrency project, also formerly known as Libra.

Diem Association, the consortium Facebook founded in 2019 to build a futuristic payment network, sold its technology to Silvergate Capital corp.

a small California bank serving bitcoin and blockchain companies.

Mr. Levey joined Diem Association in August 2020 after working at HSBC Holdings PLC for more than eight years, including serving as the bank’s legal director and managing more than 900 lawyers.

Between 2004 and 2011, Mr. Levey served as the U.S. Treasury Department’s Under Secretary for Terrorism and Financial Intelligence, one of the agency’s top officials responsible for imposing sanctions and combating illicit finance. He also held several leading positions in the Ministry of Justice.

Austin, Texas-based Oracle said Mr. Levey’s experience in technology, finance and national security will help the business software giant navigate the regulatory environment as it expands its cloud business.

Representatives for Oracle declined to make Mr. Levey available for an interview.

The appointment comes as Oracle’s cloud businesses lifted the company’s latest quarterly results in September. The company said its cloud revenue grew 45% to $3.6 billion last quarter, and CEO Safra Catz said the company’s two cloud businesses now account for more than 30% of Oracle’s total revenue.

Write to Mengqi Sun at [email protected]

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