Capitolis Applies for Broker-Dealer Registration: Veteran to Step Down
Posted by Colin Lambert. Last updated: March 13, 2023
Capitolis says its subsidiary, Capitolis Global Broker Dealer, has applied to become a broker-dealer in the US, in anticipation, the firm says, of launching new products.
At the beginning of this year, Capitolis announced its subsidiary, Capitolis Liquid Global Markets, was conditionally registered as a security-based swap dealer (SBSD) in the US in support of its ground-breaking equity swap financing solution. Its next pursuit in standing up a broker-dealer will allow Capitolis to launch additional products that have been in development for quite some time, the firm adds.
“The registration of a broker-dealer, on the back of our introduction of an SBSD, will allow us to expand our product offerings and propel our already strong momentum,” says Gil Mandelzis, founder and CEO of Capitolis. “Both initiatives have been in the making for a very long time, led by our team and advisors, and we are exceptionally grateful for their hard work and brilliance.”
Seperately, Capitolis says that David Lamb, chief compliance and risk officer, has informed them that he intends to retire later this year, after a successful 26-year career in various capacities across the financial services industry. Lamb has been with the company from the early days and led the establishment of its risk management and compliance infrastructure. He was also instrumental in establishing Capitolis’ SBSD and broker-dealer initiatives.
Capitolis says Lamb will continue to fully perform his current responsibilities until later this year while it works actively to identify his successor.
“I’m humbled by what I’ve been able to see Capitolis accomplish over the past six years. I am proud of the robust infrastructure we have built for managing compliance and risk,” Lamb says. “It’s been amazing building innovative solutions for important parts of the capital markets infrastructure. Planning towards my retirement has been a long time in the works, and I am excited to begin that chapter of my life later this year, however I’m going to truly miss the incredible people I work with every day.”
Mandelzis adds, “Dave was part of the early ideation process to develop the vision for Capitolis well before we even started the company and joined us a short while after we began operating. We are grateful for all he’s done to stand up the necessary infrastructure around compliance and risk for Capitolis, along with the work he has contributed to enable our recent SBSD registration and broker-dealer application filing – both meaningful undertakings that have taken a lot of time and effort to achieve. With those behind us, I am very happy for Dave as he works toward a well-deserved retirement later this year.”