Marc Asch will step down as the head of Ripple Prime at the end of the year

According to CoinDesk, Marc Asch, founder of Hidden Road and head of Ripple Prime, will step down at the end of the year, and Senior Vice President Noel Kimmel will take over the agency's prime brokerage business.

It is reported that Ripple announced the acquisition of Hidden Road for $1.25 billion in April 2025, and after completing the transaction in October of the same year, it was renamed Ripple Prime. This business provides prime brokerage, clearing, and financing services for institutional clients in digital assets and traditional markets.