Hedge fund manager Brevan Howard named Colleen Sullivan, a co-founder and former CEO of CMT Digital, to lead its investments in crypto. She will join Brevan Howard shortly, the firm said in an email Monday.

Sullivan stepped down as CEO of CMT Digital, the investment arm of Chicago proprietary trading firm CMT Group, last month.Brevan Howard is also forming a new crypto-focused division called BH Digital.It was reported in April that the fund manager was planning to allocate up to 1.5% of its main fund (worth $5.6 billion at the time) to direct exposure in cryptocurrency.CMT Digital had invested in several large crypto firms, such as crypto derivatives platform ErisX, crypto lender BlockFi, crypto-friendly Silvergate Bank and crypto venture capital pioneer Polychain Capital.

Read more: Financier Alan Howard Owns 5.8% of German Crypto Asset Management Firm Iconic Holding