Libra Association Appoints Saumya Bhavsar as General Counsel of Libra Networks

​The Libra Association announced that it has appointed Saumya Bhavsar as General Counsel of Libra Networks, a wholly owned subsidiary of the Libra Association.

Announced in a press release, Bhavsar has been onboarded by the independent member organization developing a blockchain-based payment system to manage the operations of the licensed Libra payment system.

With two decades in finance, Bhavsar brings a wide range of international experience in financial services and deep expertise in legal, regulatory, and compliance matters to Libra Networks.

She joined the Swiss non-profit from Credit Suisse, where she headed the global regulatory affairs as Managing Director. She was also the head of the bank's data protection office. 

Her previous banking roles include Managing Director at UBS and Assistant General Counsel at Euroclear Bank. In these roles, she led legal teams that advised on and ensured compliance with cross-border regulations, settlement agreements with US authorities and significant merger transactions.

"Saumya is a strategic leader with demonstrated ability and success in legal, regulatory and operational roles in one of the most highly-regulated industries,” said James Emmett, Managing Director of Libra Networks. “I am looking forward to working with Saumya and know that her expertise will be crucial in launching and managing a compliant payment system."

Facebook revealed its plan to launch Libra in June 2019 and formed the non-profit entity to govern the stablecoin.The association is actively on-boarding new members and strengthening its team with key hires.