Topic: Growth of Reciprocal Deposits (ICS & CDARS) and Why They Matter
Speaker: Danny Capitel, Managing Director, IntraFi Network
Approved Credits: This session will award 1.7 CTP credits, 1.8 CPE credits and 1 Samford PD credit. Due to the topic, no FP&A credits will be awarded.
Topic Description: Danny Capitel will discuss the exponential growth of reciprocal deposits in recent months and why many companies view ICS (Insured Cash Sweep) and CDARS (Certificate of Deposit Account Registry Service) as a source of cost-effective funding and preferable over other funding choices, such as listing service deposits, collateralized deposits, and wholesale funding purchases.Speaker Bio:
Danny Capitel is the Managing Director for the South Atlantic & Florida region at IntraFi Network. He is responsible for growing and managing a portfolio of network banks within the region that utilize IntraFi Network’s suite of balance sheet management solutions. Mr. Capitel previously represented Bank Director Magazine where he established relationships with companies and organizations who marketed to the Community Bank’s CEO, CFO and Board of Directors. He was Senior Vice President of National Accounts for Progeny Marketing Innovations/FISI Madison Financial and assisted banks in marketing to their retail customer segment.
Mr. Capitel began his career as an accountant in the private sector and moved to sales for Pitney Bowes and Dictaphone. Danny joined IntraFi Network in September of 2004 when the company was a fledgling financial service and technology start-up. He has been instrumental in growing the company to be the largest deposit placement service provider in the country with 3,000 financial institutions in its network.