Financial Services Planning

MICHAEL J. ZIMITS

*** ******* ***, ********** ****, NY 11762 Mobile 516-***-****

http://www.linkedin.com/in/mzimits *******@*******.*** Michael Zimits offers extensive experience in Strategic Growth & Transformation, Global Prime Brokerage, OTC Clearing and Exchange Trading, Hedge Fund Administration, multi-asset derivative trade support, operations, product control, Blockchain Technology, Financial Planning and most recently, Digital Financial Services. CAREER ACHIEVEMENTS

My career achievements highlight my abilities to create and re-create OTC derivative processing and clearing environments driven by evolving markets as well as regulatory change while maintaining systemic risk and operational control. Throughout my career, I have managed global product development, sales and operations initiatives associated with OTC derivative products & futures; run a global prime brokerage business unit as well as global operations and middle offices at top tier investment banks; and launched a multi-asset fixed income, equity, and derivative fund administrator that has grown to international status and was taken public in 2006.

Expanding my subject matter expertise in the form of a boutique advisement firm, I worked with my partners to launch BCSI and Orebits.io, a commodities based Blockchain & Smart Contract Company, as well as a financial advisory practice. All of these accomplishments allowed me to join one of the market’s leading crypto financial services start-ups to develop and manage the institutional operational infrastructure. Additionally, I serve as an inspirational & motivational speaker.

RELEVENT EXPERIENCE

BLOCKFI, New York, NY – VP & Global Head of Operations Manage high priority business initiatives from conception through successful execution, collaborating with cross-functional internal team members and stakeholders. CAPITAL MARKETS ADVISORS, New York, NY – Founder / Managing Partner Using Distributed Ledger Technology, architected data models to tokenize unrefined precious metals to be traded and exchanged (with patent filed). CITI, New York, NY – MD Global Head of the OTC Clearing Business Architected multi-asset derivatives and futures clearing network to global clearing houses, client portals and internal risk management systems.

MERRILL LYNCH, New York, NY – Director, Global Head of New Business / FICC PB Designed and implemented multi-product, multi-data feeds to create an internal desktop interface and client portal for the launch of a new entrant to the Fixed Income and FX Prime Brokerage market.

GLOBEOP FINANCIAL SERVICES, New York, NY – Founding Member / Partner Devised and implemented the process to assemble hedge fund data for 3rd party independent pricing, collateral, and risk management for multiple hedge fund and asset managers for what has become the world’s largest fixed income and derivative administrator. GOLDMAN SACHS, New York, NY – VP Goldman Sachs Capital Markets Implemented and managed the first Value-at-Risk model team at Goldman Sachs. Michael J. Zimits

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PROFESSIONAL EXPERIENCE

BLOCKFI, New York, NY 1/21 – 4/23

VP/Global Head of Institutional Operations

Build and instill operational maturity at BlockFi. Drive initiatives through Research & Analysis, building business cases for new services or partnerships. Identify opportunities to improve current processes across functional areas, optimizing our procedures for efficiency and productivity.

• Management

o Built and integrated a global follow-the-sun 24/7 operations team to an already existing institutional trading business.

o Identify and allocate resources to streamline business practices and mitigate operational risk. o Ongoing development for strong and empowered team members and future leaders. o Firmwide bi-weekly business updates.

o Monthly dissemination of business OKRs and KPIs for leadership.

• Product Development & Operations

o Develop processes due to changes in existing products/requirements and new product introduction while maintaining firmwide stakeholder engagement (i.e., Private Client option trading) o Drive the strategy and prioritization process.

o Maintain operational readiness for all market developments. o Develop and maintain full complement of firmwide control functions. o Developed an in-house branded, multi-product operations platform (MVP UAT July ‘22).

Retire manual work for better resource utilization

Program managed E2E development according to Agile methodology

Enhanced data integrity with real-time access

• Client Service

o Confirmation and settlement of all crypto/fiat balances. o Client inquiries and reporting

o Calculate, call, and track outstanding client interest monthly o Call for and process any margin calls or liquidations o Document and maintain all operations procedures

• Onboarding

o Post-sales point of contact for new clients

o DDQ request and response

o AML/KYC review

o Credit and AML/KYC refresh

o Developed (May ’22) client portal for data security and process efficiency CAPITAL MARKETS ADVISORS, New York, NY 03/12-1/21

Founding Partner / Managing Partner

Launched a boutique professional services firm which delivers the following set of services across North America to a diverse mix of global investment banks, interbroker dealers, and CCPs.

• Delivered large scale finance, regulatory & operations transformations, focusing on back-office conversions.

• Performed current state analysis and documented current state using client and vendor documentation, standard (and if needed proprietary) tools, templates and accelerators

• Ran large scale PMOs, including setup and maintenance of governance meetings, project plans, KPIs, dashboards, status reporting, issue and risk tracking

• Performed future state analysis, gap identification, and develop gap remediation plans

• Developed operational procedures, training manuals and related materials, and trained staff

• Developed use cases, test scripts, test plans and UAT, system integration testing, BCP/DRP/non-functional testing, and parallel/mock conversion/dress rehearsal testing

• Offered advisory and developmental services for Blockchain, Distributed Ledger, and Smart Contract Solutions

• Offered financial advisory and wealth management services. Michael J. Zimits

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EQUITABLE / AXA ADVISORS, Woodbury, NY 4/19-1/21

Financial Advisor

As a Financial Professional at Equitable, I provide assistance in all aspects of Life Planning including: Families with Special Needs & Disabilities, Disability and Long-Term Care strategies, Life Insurance, Retirement, and 401K Planning and College Planning.

• Work with individuals and businesses to develop solutions providing quality revenue and tax management

• Nationally ranked Top 100 Associate

OREBITS, New York, NY 10/16-11/17

President & COO

Charged with the business and operational architecture of the firm and product development.

• Led a DLT & Asset Digitization company to bring a new asset to the market: orebits.au

• Utilized a series of Smart Contracts, designed, built (as co-inventor), and brought to market the first Distributed Ledger platform to ‘Digitize’ un-refined Metal Reserves

• The initial digitizations created ‘in-kind’ revenue exceeding $50mm

• Coordinated partnerships with both Digital and Traditional exchanges to list and create a liquid market for orebits.au

• Engaged in Marketing, Distribution and Capital raising efforts to build the Orebits business

• Provided and participated in thought leadership to the Blockchain community interested in Asset Digitization services, DLT development, and process application

• Managed and coordinated all daily activity, development, and operational flows BCSI – BLOCK CHAIN STRATEGIES & INNOVATIONS, New York, NY 10/16-1/21 Founding / Managing Partner

Advised on the fundamentals, potential, promise and implementation of Distributed Ledger Technology into existing financial industry processes and infrastructure.

• In an advisory capacity, BCSI helped clients define their Blockchain strategies and requirements. This service was enlisted for both in-house developments & transitions as well as for strategic investments in the blockchain market

• BCSI, with its’ deep ties to the BC/DLT community, offered assistance in both talent acquisition as well as staff development

• BCSI brought together technology providers with relevant problem owners seeking a blockchain solution

• BCSI worked within its’ constantly expanding network to assist in sourcing funds for startups and/ or Series B investments in the blockchain market

CITI, New York, NY 10/10-10/11

Managing Director – Global Head of the OTC Clearing Business Charged with building and managing a globally consistent OTC Clearing Business that would not only be Dodd- Frank and EMIR compliant but would also take a lead position in the marketplace thereby establishing Citi as a premier provider as well as a “thought-leader” in this new and evolving space. This role included, but was not limited to the tasks that follow:

• Managed the OTC Clearing business units and staff in the US, UK, and Asia

• Defined, built, and maintained a 24-hour global service model for clients trading outside of their regions of trade designation

• Maintained a globally consistent systemic, processing, and client support model

• Responsible for defining and implementing a phased in approach for a multi-asset Clearing platform that encompassed the following: Cleared OTC Swaps, Intermediated and Bilateral OTC Swaps, Cleared Futures, FX Give-Ups, FX Cleared, Trading Limits, CCP specific margin calculations, independent trade valuation reporting, OTC Swap trade specific reporting and billing

• Served as the Co-Chair of the firm’s Disability Employee Network Michael J. Zimits

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MERRILL LYNCH, New York, NY 1/06-10/10

Director – Global Head of New Business / U.S. Head of Client Service for FICC Prime Broker Launched Fixed Income and FX Prime Broker while also leading the firm’s effort to create and marketing its’ OTC intermediation business.

• U.S. Manager for Fixed Income Cash Products and Services

• Global Manager for the FXPB and Derivative Intermediation Offerings

• Responsible for the global development and architecture of the Fixed Income Prime Broker including Asia

• Launched several product offerings including: Credit Derivative intermediation (singles, index, tranches, baskets), Interest Rate Derivative intermediation (swaps, swaptions, caps/floors, fras), Foreign Exchange and Commodity Derivative intermediation

• Developed a globally consistent single PB Overlay platform to service our clients for all Derivative Products that leveraged the firm’s core infrastructure

• Architected and developed the new global Client Service Workstation which added Equity PB product capabilities to the platform

• Developed several strategic initiatives (confidential) within the firm to allow the ML Prime Broker to continue its’ rapid growth in the marketplace while continuing to make itself an integral part of the client’s infrastructure.

ARCHEUS CAPITAL MANAGEMENT, New York, NY 1/05-8/05 Director of Global Operations – Functional COO (transitioned from GlobeOp platform)

• Responsible for the global development, management and control of operations, middle office, trade support, documentation, and product control for a $3.5 billion, multi-strategy hedge fund. GLOBEOP FINANCIAL SERVICES, New York, NY 3/00-12/04 Director – Global Client Services / Global Derivative Operations & Support

• One of several founding employees (with equity)

• Responsible for building an international outsourcing business with offices the US, Europe, and India that provided infra-structure for over $78 billion worth of assets managed by various international hedge funds and asset managers

• Managed company growth from 11 employees (including partners) to nearly 2000 staff worldwide

• Directly managed the operations, accounting, OTC support, offshore administration, and audit activity for 35 hedge funds and accounts (entire client base of approximately 100 funds)

• Maintained matrix-style management over derivative staff across entire fund population

• Involved in marketing and new client implementation / conversion

• Member of the firm’s “new business pricing committee” EDUCATION: ADELPHI UNIVERSITY, Garden City, NY - BS Accounting REGISTRATIONS: SERIES 7, 66 (63, 65), LIFE & HEALTH ADVISORY BOARDS: Infinity Chain (China)

Gaming Token Exchange (GTEX)

PUBLIC SPEAKING: Motivational & Inspirational Speaker since 2003 Patient/Physician Advocate

PHILANTHROPY: President of The MS Great 8 Foundation Endurance Event Producer for the MSAA

AFFILIATIONS: Member of Washington D.C, based Chamber of Digital Commerce Member of North Carolina based Blockchain Association s in Newark, New Jersey, London, Tokyo and Singapore. As of June 30,2020, the firm has $920 billion of assets unde700 institutional asset owners have entrusted PGIM Fixed Income with their asset

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