Evernorth Taps Ripple Legal Chief for Board Ahead of SPAC
Evernorth named Stuart Alderoty, Ripple’s chief legal officer, to its board; he is expected to join after the company closes a business combination with Armada Acquisition Corp. II.
Evernorth Holdings Inc. announced on May 5, 2026, that Stuart Alderoty, Ripple’s chief legal officer, is expected to join its board after Evernorth completes a business combination with Nasdaq-listed Armada Acquisition Corp. II as the company prepares to operate a regulated public XRP treasury.
Alderoty has been Ripple’s chief legal officer since 2019 and took on the presidency of the National Cryptocurrency Association in 2025. His legal experience includes roles at CIT Group, HSBC North America Holdings and American Express.
Evernorth also named several other expected board members and senior executives. Dr. Derar Islim will bring experience in digital-asset market structure and institutional credit from Antalpha and Genesis Global Trading. Ted Janus brings more than 30 years of investment experience, including work at J Capital and Palo Alto Investors. Robert Kaiden is expected to provide financial leadership after serving as chief financial officer of the OpenAI Foundation and as chief accounting officer at Twitter. Boris Kapeller was appointed chief risk officer and Charles Stewart named chief communications officer.
The company said it will seek a public listing through the Armada II SPAC and intends to offer investors regulated exposure to XRP through a public-company structure. Evernorth described its model as an active treasury that aims to grow XRP per share using institutional and decentralized finance yield strategies, direct participation in the XRP ecosystem and capital markets activities rather than operating as an exchange-traded fund.
Kapeller will oversee financial risk strategy and controls. Stewart will lead communications, marketing and brand strategy.
Evernorth CEO Asheesh Birla commented, “As Evernorth prepares to operate as a public company, we are building a leadership team with the institutional credibility this model requires.” The company stated the leadership changes are intended to support its transition into a public digital asset treasury after closing with Armada II and to provide a regulated, transparent structure for institutional XRP exposure.
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