The Head of Ripple Prime, Marc Asch, is stepping down from the company by the end of 2015, according to a CoinDesk report citing a Ripple spokesperson.
Noel Kimmel, currently a Senior Vice President at Ripple Prime, will replace him in that role.
Ripple Prime was officially introduced after Ripple acquired Hidden Road in October 2025 for $1.25 billion, rebranding the latter.
Marc Asch founded Hidden Road in 2018 as a prime brokerage for institutional clients. Before that, Asch worked at SAC Capital.
Ripple Prime focused on institutional investment across several classes, including digital assets. Through Ripple Prime, the company also created new exposure to its native stablecoin, RLUSD.
That same month, Ripple also completed another $1 billion acquisition of a stablecoin platform, GTreasury, adding to its renewed financial ecosystem.
Prime Broker of the Year 2026
Recently, Ripple Prime has won the Prime Broker of the Year: EMEA award at the 2026 Hedgeweek US Awards.
The Hedgeweek US Awards is an annual event that honors and recognizes companies for their efficiency and contributions across several categories.
Some of these categories include custody, trading infrastructure, blockchain technology, compliance, and decentralized finance (DeFi).
The award has marked growing recognition of Ripple as a top brokerage firm in the world of finance.