Clear Street announced a change in its top leadership on Monday, saying Chief Executive Officer Ed Tilly will step down from his executive role in June while remaining on the company's board of directors. Founder and Executive Chairman Uri Cohen will assume the CEO role on June 1.
The leadership move comes as the cloud-native financial infrastructure technology firm implements staff reductions that total more than 50 positions, a cut the company said followed the abandonment of earlier plans to pursue a public offering this year, according to reporting from Bloomberg.
Tilly will not leave the company entirely. The firm said he will continue to serve on the board and act as an advisor with a focus on the company’s international relations and expansion efforts. Company statements note that Tilly was recruited out of retirement by Cohen roughly two and a half years ago with a mandate to institutionalize operations and ready the business for its next phase of growth.
During Tilly’s tenure as CEO, Clear Street surpassed $1 billion in revenue and broadened its geographic footprint, expanding operations across North America, Europe, and Asia while enlarging its product set. The company has characterized those developments as part of the platform scaling that formed the core of Tilly’s assignment.
The timing of the CEO transition aligns with Clear Street’s plans to begin a June beta of an AI-driven active trading application. Cohen described the application as a mobile interface intended to surface Clear Street’s platform capabilities to users, enabling access to the firm’s trading and infrastructure services from a mobile device.
The company also disclosed departures among its senior ranks. Among those who have left is John Levene, Clear Street’s chief experience officer, who Bloomberg reported was among the company’s highest-earning executives in 2025.
Clear Street describes itself as a cloud-native financial infrastructure technology firm focused on providing sophisticated investors access to assets across multiple markets. The recent leadership and personnel changes come as the company repositions following an aborted public listing and prepares to roll out a new mobile product in beta.