President of Brink's Capital, LLC, Brinks
Search every verified Ronald Domanico interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ron Domanico, Executive Vice President and CFO of Brink's, spoke at the Terry Third Thursday event on May 19, 2022. He discussed the company's strategic shift during the pandemic, describing a move away from the "least profitable, most highly capital-intensive part of the cash ecosystem" toward "adjacent services with much higher profit margins." Domanico stated that Brink's developed this "strategy 2.0" during the pandemic, which he said provided time to test new services. He also noted that Brink's completed 20 M&A transactions during Covid and operates in over 100 countries with approximately 5 billion in revenue. Domanico addressed the role of cash, asserting that "cash is not dying" and that "Covid did not kill it," adding that people living at the margin of society rely on cash. He described Brink's as "the largest global cash management company by far, more than twice the size of our competitors." Reflecting on his career, Domanico said he has done about 100 acquisitions with a "success rate of about 98%," and emphasized that managing one's own calendar is key to demonstrating priorities.
“During Covid we only did 20 M&A transactions. Brink's is in over a hundred countries, with 6,000 employees and a fleet of 12,000, generating almost five billion in revenue. We're developing new services and systems to make cash as easy for retailers to accept as debit and credit.”
“Cash is not dying; Covid did not kill it. People living at the margin of society lose access to debit and credit and have to rely on cash, which is why Brink's remains the largest global cash management company by far, more than twice the size of our competitors.”
“The biggest deal Brink's did closed on February 26th, 2020, a week before the official start of the pandemic. The negotiation lasted 57 hours, and I stayed awake the whole time. After wrestling, everything else in life is easy; you just stay up another 10 minutes.”
“We had four competitors in the United States and the two smallest were not for sale. On the same day, I put an offer in for both. I told one family-owned company that if they didn't sell now, the other would, because the Federal Trade Commission would only allow one deal. It was a game of chicken, and it worked.”
“Throughout my career, I've probably done 100 acquisitions with a success rate of about 98%. The key is to identify the few assumptions that drive value, involve the owners of those assumptions, and never fall in love with the deal.”
“For 163 years, Brink's has participated in the least profitable, most highly capital-intensive part of the cash ecosystem, which doesn't make a lot of sense. During the pandemic, we developed adjacent services with much higher profit margins and less capital requirement, calling it our strategy 2.0.”
“The pandemic gave us more time to test new services and get the bugs out before going prime time. A silver lining was having all four of our children move back to Atlanta, resulting in six grandchildren under three years old.”
“You are paid to do two things: really smart stuff and not to do really stupid stuff. To do both correctly, you need to listen and understand the situation. It's always all about people—beginning, middle, and end.”
“Cash remains essential because people living at the margin lose access to debit and credit and rely on cash. Brink's is evolving with the payment world to make cash as easy for retailers to accept as debit and credit.”
“If you don't own your own calendar, a lot of other folks will—your boss, your body, your church, your family. Managing your time is how you demonstrate your priorities.”
Ron Domanico, Executive VP and CFO, Brink's, speaks at Terry Third Thursday on May 19, 2022.
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