Gil Mandelzis on geopolitical risk
From Capitolis CEO 'Preparing For Overall Slowdown' In The Economy | Forbes · · Forbes
“When Russia invades Ukraine — a despicable act, let's just name it — the banks had meaningful exposure to Russia, and banks approached us because they wanted to find opportunities to offset positions between them; through the Capitolis platform we can basically cancel trades and reduce meaningfully the risk.”
On , Gil Mandelzis, CEO & Co-Founder at Capitolis, spoke about geopolitical risk during Capitolis CEO 'Preparing For Overall Slowdown' In The Economy | Forbes on Forbes.
About Gil Mandelzis
Gil Mandelzis, CEO and co-founder of Capitolis, has described the company as operating within wholesale banking and capital markets, working with banks and institutional investors to make more capital available while maintaining services like clearing and prime brokerage. He stated that Capitolis is not disrupting banks but rather connecting them with additional capital, and he characterized the notion of fintech replacing banks as "a very dangerous thing." Mandelzis said that after the Russian invasion of Ukraine, banks approached Capitolis to offset positions, and the platform reduced "hundreds of millions — actually probably billions of dollars — of risk" within days. He added that the company gave 50 percent of related revenues to Ukrainian causes. Mandelzis said the industry is "preparing for an overall slowdown in the economy" and expects "a pretty long winter" for 2023. He compared the current environment to the post-dot-com bubble period, calling for a return to "fundamental business." Mandelzis also expressed support for gun control, stating he does not understand why anyone would need "military-grade" weapons, and emphasized the importance of being purpose-driven, noting that employees notice when a company takes a stance. He predicted that digital currencies and digital assets will happen "for sure" but said the world is "not at the beginning of the beginning yet" for that transformation.