Oracle Hires Chief Legal Officer From Facebook’s Blockchain Project

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

a small Californian bank that Bitcoin– and Blockchain-Company served.

Mr. Levey joined the Diem Association in August 2020 after having worked at HSBC Holdings PLC for more than eight years, including as the bank’s Chief Legal Officer and as manager of more than 900 lawyers.

From 2004 to 2011, Mr. Levey served as the US Treasury Department’s Undersecretary for Terrorism and Financial Intelligence, one of the agency’s top officials responsible for imposing sanctions and combating illicit finance. He also held several senior positions in the Department of Justice.

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

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

The appointment comes as Oracle’s cloud businesses lifted the company’s most recent quarterly results in September. The company announced that its cloud revenue rose 45% to $3.6 billion last quarter, and chief executive Safra Catz said the company’s two cloud businesses now account for more than 30% of total revenue identify Oracle.

Authors: Mengqi Sun at mengqi.sun@wsj.com