Ronald Domanico on Cash Usage
From Ron Domanico, Executive VP and CFO, Brink's · · Terry College of Business at the University of Georgia
“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.”
On , Ronald Domanico, President of Brink's Capital, LLC at BRINKS CO, spoke about Cash Usage during Ron Domanico, Executive VP and CFO, Brink's on Terry College of Business at the University of Georgia.
About Ronald Domanico
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.