Blockchain professional services firm Wachsman has hired senior bankers from investment banks Jefferies and J.P. Morgan to lead a new blockchain strategy and advisory division.

Wachsman’s Strategic Advisory Group will provide blockchain consulting and advisory services to the company’s existing clients as well as publicly-traded corporations and privately-held companies globally.

The new appointments include Michael Chang, former Senior Vice President, Technology Investment Banking Group at Jefferies, who is joining the company as Managing Director Strategy and will lead the firm’s new Strategic Advisory Group in New York. Chang will be supported by Associate Director Franklin Bi, former Vice President and Blockchain Strategy Lead for J.P. Morgan’s Blockchain Center of Excellence.

“Today is a landmark occasion for our rapidly growing company. We have exceeded our clients’ expectations with world-class public relations support and many of them have asked us to do more for them. With the experience and expertise that Michael and Franklin share, we now have the talent to offer a wider range of services,” CEO David Wachsman said. “Subject matter expertise in this world-changing technology is extremely valuable, so we’re proud to have attracted some of the brightest minds in blockchain to lead our new Strategic Advisory Group.”

During his tenure at Jefferies, Chang founded and led the firm’s blockchain coverage effort where he developed and executed blockchain strategies for clients ranging from large corporations, to institutional investors, to emerging blockchain companies. Prior to Jefferies, Chang was a Director in the Mergers and Acquisitions Group at Bank of America Merrill Lynch and Vice President at Citigroup, where he advised on over $40 Billion in M&A and capital raising transactions.

Franklin Bi spent four years at J.P. Morgan leading business strategy and use case prioritization for blockchain initiatives across wholesale banking, custody and fund services, and capital markets. Bi was responsible for driving J.P. Morgan’s initial assessment of the impact of blockchain technology in 2015, co-authored the J.P. Morgan report, “Unlocking Economic Advantage with Blockchain,” and played a key role in initiatives such as J.P. Morgan’s Quorum project, crypto-asset strategy, and consortia engagement.

Founded in December 2015 by David Wachsman, Wachsman has grown to employ 90 staff worldwide, with a client portfolio of some of the largest and indispensable companies and projects in the blockchain ecosystem, including CoinDesk, eToro, Dash, tZERO, Steemit, Bitfinex, Crypto Valley Association, and Lisk.