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February 21, 2019

Another shakeup for West Hartford-bound Ideanomics; Wu regains chairmanship

HBJ File Photo UConn's former West Hartford campus on Trout Brook Drive, where Ideanomics plans to build a headquarters for technology and innovation.
HBJ PHOTO | MATT PILON Bruno Wu has regained his role as chairman of New York fintech Ideanomics.

For the second time in three months, incoming West Hartford fintech Ideanomics has shaken up its C-suite, announcing major changes to its management team on Thursday.

New York-based Ideanomics, which plans to open a $283 million tech hub on UConn’s former West Hartford campus, said it elevated Chief Operating Officer Alfred P. "Alf" Poor to CEO in place of recently appointed chief executive Brett McGonegal, who is leaving the company to “pursue other interests.”

Ideanomics also said its co-founder and major shareholder, Bruno Wu, will regain his title as chairman after stepping down in November to lead the company's China-U.S. relations committee as part of a nongovernmental organization.

"I'm looking forward to being officially back as the chairman, with the company entering an important phase for employees and shareholders alike,” the media magnate said in a statement.

The company said chief investment officer Evan Kalimtgis and chief strategy officer Uwe Parpart are also stepping down to pursue other interests. Kalimtgis and Parpart had also joined the Ideanomics management team at the same time McGonegal was named as co-CEO in September.

McGonegal arrived at the company after serving as chief executive of Hong Kong-based investment Bank The Reorient Group. He was originally named co-CEO alongside Wu months before Wu’s departure.

Meantime, Ideanomics plans to build a tech hub for blockchain technology and artificial intelligence at the West Hartford campus, which it acquired for $5.2 million.

Backed by a $10 million state loan, the “Fintech Village” development in West Hartford will become the fintech's headquarters for technology and innovation. The loan will be forgiven if the company meets its 330 job target.

The project, however, is off to a slow start.

Ideanomics recently told the Hartford Courant it may delay the opening of its tech hub in West Hartford until 2020 due to contamination at the vacant 58-acre campus.

This story has been updated

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