Ripple has announced that Marc Asch, President of Ripple Prime, will step down from his position by the end of 2025. His role will be assumed by Noel Kimmel, currently serving as Senior Vice President at Ripple Prime. This transition marks a significant shift in the leadership of the company’s institutional brokerage division.
Leadership Transition to Conclude by Year’s End
Marc Asch established Hidden Road in 2018, a firm known for providing brokerage services to institutional clients. Ripple acquired Hidden Road for $1.25 billion in October 2025 and subsequently rebranded its operations under Ripple Prime. Before founding Hidden Road, Asch made his mark at SAC Capital. Noel Kimmel, who is set to take the helm, is currently a senior executive within Ripple Prime.
According to Ripple’s spokesperson, “Marc Asch will depart by the end of 2025, with Noel Kimmel stepping in as his successor.”
Expansion of Ripple Prime’s Scope
Ripple Prime offers institutional investment services across diverse asset classes, which now include digital assets. The company has expanded institutional access for RLUSD, its stablecoin pegged to the US dollar. Simultaneously, Ripple’s acquisition of GTreasury for $1 billion has broadened the firm’s financial ecosystem, underlining its strategic move beyond payment solutions to build a comprehensive corporate finance infrastructure.
Boost in Institutional Visibility
Recently, Ripple Prime was honored as EMEA’s Prime Broker of the Year at the 2026 Hedgeweek US Awards, which recognize companies excelling in custody, trading infrastructure, blockchain technology, compliance, and decentralized finance. This award has heightened Ripple Prime’s profile in institutional brokerage, reflecting the growing significance of this division within Ripple’s overall operations.
Ripple Prime is creating new usage scenarios for RLUSD by offering institutional investment services across multiple asset classes, including digital assets.
The leadership change aligns with Ripple’s ongoing expansion plans in corporate finance and prime brokerage. The industry keenly watches how Noel Kimmel’s leadership will shape the strategic direction of Ripple Prime in navigating these growth avenues.
