Capitolis, the SaaS-powered network that efficiently links global market participants to new sources of capital in a regulatory-sound manner, today announced that it has entered into an agreement to acquire LMRKTS, an industry-leading multilateral optimization and compression provider.

The proposed acquisition is scheduled to close in the month of August, subject to certain closing conditions. Already a market leader in bilateral compression, structured financing solutions, and novations, this proposed acquisition will allow Capitolis to provide banks, asset managers, and hedge funds with the broadest and most complete trade compression solutions available in the market.

Capitolis, which combines deep markets expertise with a Silicon Valley mindset, has a rapidly growing client roster of more than 100 leading global financial institutions. These clients utilize Capitolis’ innovative technology platform to seek out opportunities to free up capital without taking on additional risk. As part of the proposed transaction, the LMRKTS team will join Capitolis, enhancing the depth of the company’s optimization talent and its ability to bring additional capabilities, including multilateral compression, to the market. Terms of the deal were not disclosed.

“At Capitolis, we are well on our way to meeting our audacious goal of transforming capital markets, guided by the tremendous demand we continue to see from the world’s most significant providers of capital,” said Gil Mandelzis, founder and CEO of Capitolis. “With the addition of the fabulous capabilities Hilary, Sandeep, and the LMRKTS team have built, we will unlock even greater opportunities to expand our product suite and enhance our technology. Together we move one step closer to a transformed, safer, healthier, and more efficient market.”

“I am extremely proud of the company we have built at LMRKTS and very thankful to our clients and the LMRKTS team whose support has made us a leading multilateral provider in foreign exchange,” said Hilary Park, co-founder and CEO of LMRKTS. “When Sandeep Karkera and I started LMRKTS together with Lucio Biase over eight years ago, demand for network-based optimization services was just starting to accelerate. We have since seen firsthand the far-reaching impact that Capitolis has had on the marketplace over the past four years and know that as one team we will deliver truly exceptional results for our clients. Capitolis shares our vision for the future of capital markets, and we’re proud to be joining forces with them.”

“As a client of both Capitolis and LMRKTS, we are delighted to see them team up and look forward to working with the combined entity moving forward. Capitolis is bringing truly innovative solutions to capital markets, and we support the firm’s ambitious vision for the future,” said Itay Tuchman, Global Head of Foreign Exchange at Citi.

This acquisition follows Capitolis’ recent completion of a $90 million Series C funding round led by Andreessen Horowitz, as well as a string of strategic appointments over the past year, including Stuart Wexler as General Counsel, Jimmy Reilly as Head of Equity and Total Return Swaps Funding Solutions, Jen Vanderwall as Chief People and Culture Officer, and James Kibbe as Head of Structured Funding Origination.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of Stuart Wexler as its general counsel.

In this role, Wexler will oversee legal matters, corporate governance, and regulatory affairs, and advise senior leadership and the board of directors.

Wexler joins Capitolis with more than 25 years of legal and regulatory experience across financial services, previously serving as Group General Counsel for NEX Group (formerly ICAP), where he was responsible for the management of legal, compliance, risk, and government affairs functions globally. Prior to NEX Group and its predecessor firm, Wexler was a Managing Director and Head of Sales and Trading Compliance at Merrill Lynch, where he managed a department of compliance professionals responsible for providing compliance advisory support to the company’s Americas Sales and Trading businesses. Most recently, he served as a legal consultant for the Federal Reserve Bank of New York and was a member of the Treasury Market Practices Group for more than a decade.

“I am thrilled to work with Stu again, having seen him operate at the highest levels of professionalism and integrity over the course of his career. His understanding of the regulatory environment is unparalleled,” said Gil Mandelzis, CEO and founder of Capitolis. “Stu cares deeply about the health of the financial system and is a perfect partner for us as we reimagine the markets to become healthier, more vibrant, and safer for all participants,” Mandelzis added.

“I am excited to play a key role in growing a company that is truly transforming the industry,” said Wexler. “I joined Capitolis because I believe their vision is revolutionary and will foster a more efficient marketplace that also embraces the spirit and letter of the regulations that have been put in place over the last decade. I look forward to adding to the strong foundation that this talented team has built.”

Wexler’s hire follows Capitolis’ recent completion of a $90 million Series C funding round led by Andreessen Horowitz as well as a string of strategic appointments over the past year, including Jimmy Reilly as Head of Equity and Total Return Swaps Funding Solutions, Jen Vanderwall as Chief People and Culture Officer, and James Kibbe as Head of Structured Funding Origination.

Capitolis, the leading provider of SaaS and structured financing products that address balance sheet management for financial institutions, today announced that Novations, its foreign exchange novation platform, achieved a record transaction volume of more than $959 billion in notional for FX options novations during the first quarter ended April 30, 2021, more than doubling the volume from a year earlier.

Many financial institutions expanded their positions in the FX market during the periods of volatility brought on by the COVID-19 pandemic, and they turned to the Capitolis platform to open them up to further opportunities in the market without adding risk. Trading volumes continue to hold at record highs, making the demand for Capitolis’ analytics and tools stronger than ever across both buy-side and sell-side institutions.

“The Capitolis platform is a truly groundbreaking technology that enables the world’s leading prime brokers, executing banks, hedge funds, and money managers to more effectively interact and manage their balance sheets, unlocking the potential to completely transform how firms trade with one another,” said Ben Tobin, Senior Vice President, Global Head of FX at Capitolis. “The growth of Novations over the past year has been tremendous, and we look forward to continually expanding to support our existing and prospective clients with solutions that meet their complex balance sheet needs.”

In addition to achieving record volumes, Capitolis has added 11 clients to the Novations platform since August. These new clients, across both the buy and sell side, complement a growing roster of more than 75 leading global financial institutions currently active on the Novations platform, including NatWest, Citi, HSBC, Standard Chartered, Nomura, and Societe Generale. Since its inception nearly three years ago, Capitolis Novations has eliminated positions of more than $4.6 trillion in notional.

To support the growth of Novations, Capitolis has added key features for an improved user experience, including enhanced functionalities that simplify the movement of FX instruments between prime brokers and the larger marketplace, and advanced analytics on the status of all pending and completed novations.

The growth of Capitolis’ Novations platform follows the recent completion of a $90 million Series C funding round led by Andreessen Horowitz. Capitolis further bolstered its positioning in the FX space earlier this year, announcing a partnership with leading FX settlement provider CLS to streamline trading and settlement for banks in the $6.6 trillion global currency market.

FinTech platform expands executive team with new hire focused on leading the team that will deliver core services to company’s growing and diverse customer base.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of Callie Reynolds as its Chief Customer Officer. Reynolds, who will lead Capitolis’ global customer success, including its global post-sales efforts, is the latest addition to the company’s growing executive team.

As Chief Customer Officer, Reynolds will develop the strategy and lead the team that delivers Capitolis’ core services to the company’s growing and diverse customer base, with a strong focus on customer satisfaction/retention and growth in adoption. Reynolds’ addition comes amid strong momentum for Capitolis, as the company continues to experience industrywide adoption of its proprietary technology platform.

With extensive experience in SaaS and an exceptionally strong background in customer success and account management, Reynolds joins Capitolis from Oracle, where she served as Vice President of Account Management for the Oracle Data Cloud division. In this role, she oversaw the support, adoption, and value exchange for the Measurement suite of solutions. During her time at Oracle, she was also named by New York Business Journal as one of its 2020 Women of Influence honorees.

Reynolds joined Oracle through its 2017 acquisition of Moat, an enterprise SaaS solution delivering analytics that measure viewability, attention, and brand safety across the digital advertising landscape. While at Moat, she served as Vice President of Account Management and grew the account management practice from its infancy into a global, cross-functional team, expanding across the U.S. and opening customer success centers in London, Sydney, and Singapore.

“We are thrilled to welcome Callie to Capitolis. Her deep expertise in the SaaS industry and strong track record of success make her an ideal fit to contribute to a rapidly growing business like ours,” said Gil Mandelzis, CEO and founder of Capitolis. “This year has presented us with a tremendous opportunity to accelerate the adoption of our innovative platform, and we look forward to continuing this momentum into 2021.”

“I’m excited to join a groundbreaking SaaS platform, with a world-class team, that’s truly transforming the way financial institutions utilize their balance sheets,” said Reynolds. “I look forward to partnering with Capitolis’ market-leading client base and bringing my SaaS experience to Capitolis to drive continued growth and enhance the company’s operational excellence.”

Capitolis, which helps financial institutions free up capital and remove barriers that would otherwise restrict trading, enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions. The company has eliminated $5 trillion in overall positions to date for more than 50 financial institutions, including many of the world’s largest banks, as well as leading hedge funds and asset managers.

The announcement comes on the heels of a number of key executive hires in 2020, including Lindsey Baptiste as Senior Vice President of Finance, Hen Lotan as Chief of Staff, and Rahul Auradkar as Chief Product Officer. The company also recently announced its plans to grow its headcount from 50 employees at the beginning of 2020 to 90 employees by year-end

Fintech platform appoints Lindsey Baptiste as SVP of Finance and Hen Lotan as Chief of Staff following further industry adoption of Capitolis’ proprietary technology.

Capitolis, the leading SaaS platform that drives financial resource optimization for capital markets, today announced the appointment of two senior executives: Lindsey Baptiste as Senior Vice President of Finance and Hen Lotan as Chief of Staff.

These new hires will support Capitolis in its next phase of growth and play a key role in advancing the company’s mission to transform the capital markets through its collaborative technology and platform. Baptiste will oversee all finance activities, including financial planning and analysis, accounting, treasury, systems and billing, as well as support corporate governance. Lotan will manage Capitolis’ strategy, process and business performance, analyze strategic opportunities and measure business outcomes.

Baptiste joins Capitolis following key roles at both startups and large financial institutions. She started her career at Morgan Stanley in equity capital markets before expanding into fixed income capital markets over the course of five years. She then worked at MediaMath, Inc., a fast-growing AdTech startup, where she held positions in revenue and professional services operations, and served as the international head of finance. She saw the growth of the organization, from a small startup to a well-established, international company.

Prior to joining Capitolis, Lotan spent eight years with Boston Consulting Group, where he served as Principal and a lead member of the firm’s financial institutions practice, spearheading a variety of growth strategy and large-scale change engagements and crafting strategies to capture opportunities that leveraged new technologies. He also led the firm’s thought leadership research group – the BCG Henderson Institute – where he managed the development of BCG’s intellectual property on technology and strategy. Before BCG, Lotan served as a senior associate at KPMG Somekh Chaikin on their valuation services team in Tel Aviv.

“I am thrilled to welcome Lindsey and Hen to the Capitolis team. Their expertise will be instrumental as we continue on our high growth trajectory and reimagine capital markets for the benefit of all market participants,” said Gil Mandelzis, CEO and founder of Capitolis.

The new hires follow a year of record growth for Capitolis, which includes the recent completion of a strategic investment from Citi, J.P. Morgan and State Street.