2 Executives Are Leaving Blockchain Startup R3 in Management Shake-Up

Distributed ledger technology provider R3 has carried out an extensive internal reorganization, resulting in the departure of two members of its management committee, CoinDesk has learned.

Brian McNulty, a managing director and head of global services, and Lauren Carroll, chief administrative officer, are leaving the company, R3 told employees at town hall meetings Friday, according to people familiar with the situation.

McNulty joined R3 in March 2016 when the start-up was busy onboarding consortium member banks.

He had previously founded the PTDL Group, a rival blockchain group which numbered around 40 members including CME Group, State Street Bank and the London Stock Exchange.

Chief engineer James Carlyle will run a new "Production" team dedicated to supporting the deployment of R3's technology at client companies.

The general counsel's office has been merged with external affairs and placed under Charley Cooper, who has long overseen regulatory affairs and public relations for R3. Chief of staff Zack Kavanaugh assumed added responsibilities for recruiting, HR and business resources.

Chief financial officer Paul Harris will oversee a combined finance and corporate development to lead the sales team.

As CoinDesk reported earlier this month, Scott Grayson, R3's former chief sales officer, left in September and recently.

Joined the blockchain services firm AlphaPoint.... In June 2018 R3 had to field media speculation.

Image: R3 founder David Rutter at Consensus, from CoinDesk archives.