Capitolis Appoints Financial Technology Veteran Richard Schiffman as Chief Product Officer to Lead Product Vision & Delivery and Accelerate Business Growth

Schiffman, the product lead of MarketAxess at its founding and its market capitalization peak of $21 billion, brings over 30 years of experience driving product innovation and strategy at global financial services firms

NEW YORK–(BUSINESS WIRE) — Capitolis, the financial technology company, announced the appointment of Richard Schiffman as Chief Product Officer. Reporting to Gil Mandelzis, Chief Executive Officer and Founder of Capitolis, Schiffman will be responsible for defining the firm’s product strategy and delivery roadmap to meet market needs and scale the business.

Schiffman brings over 30 years of experience at the intersection of product, strategy, and technology within global financial services firms. He has built and operated transformational businesses and led high-impact product development teams that delivered innovative technology solutions.

Schiffman joins Capitolis from MarketAxess (NASDAQ: MKTX), where he was its first employee and played a key role in building the company into an industry leader, contributing to its growth through a successful IPO. The company hit its peak market capitalization of $21 billion, served over 2,000 customers, and employed over 800 people during Schiffman’s tenure. Throughout his more than 20-year career at MarketAxess, Schiffman held roles including Chief Technology Officer and, most recently, Global Head of Trading Solutions, responsible for product development as well as the firm’s investment grade, high yield, municipal and Open Trading businesses.

Previously, Schiffman was Managing Director at BlackRock Financial Management. Earlier in his career, he served as Vice President and Manager of Fixed Income Research Technology at J.P. Morgan.

“Capitolis is preparing for its next phase of hyper growth on the back of exceptional scaling over the past few years, and Rich is the proven leader we have been looking for to drive our product roadmap and delivery,” said Gil Mandelzis, CEO & Founder, Capitolis. “Rich has built an impressive career leading product and technology at preeminent financial institutions. He has experienced the growth from day zero through hyper scaling, going through an IPO and operating in a public, globally leading company. His track record of building innovative products will help accelerate Capitolis’ next phase of growth and expansion.”

“I am thrilled to join Capitolis at such an exciting time in this company’s journey,” said Richard Schiffman, Chief Product Officer, Capitolis. “I look forward to partnering closely with the entire team and our clients to deliver world-class products that help Capitolis continue to grow and scale, meet the needs of the market, and advance the firm’s vision of creating safer and more vibrant financial markets.”

Recently, Capitolis has experienced strong business momentum and expansion. Over the past year, the fintech has launched a variety of new products, significantly grown the network of clients leveraging its platform, received additional strategic bank investments, and acquired Capitalab—BGC Group’s Rates Compression and Margin Optimization business—to enter into the Interest Rates space. Schiffman’s appointment marks the latest executive hire to support Capitolis’ next phase of rapid growth and expansion, following the addition of Amol Naik as Chief Operating Officer and Melanie Carucci as Global Head of Sales.