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Stonegate Bank Welcomes Cuba as a Client

New Opportunities in Cuba are Upon us!

Written by Jeff Siegel
Posted May 22, 2015 at 6:55PM

stonegateYou probably don't know who Dave Seleski is.

Hell, I don't even know the guy, personally. But I know who he is, and I know he is deserving of a round of applause.

Dave Seleski is the CEO of Stonegate Bank in south Florida. This is a relatively small community bank, boasting 21 branches in the Sunshine State and $2.26 billion in assets.

It's also a bank run by a man who embodies a fair amount of bravery, and certainly an appreciation for free market solutions to geopolitical problems.

You see, Stonegate Bank, under the leadership of Seleski has accepted Cuba as a client. And this, dear reader, will enable the U.S. and Cuba to finally reopen their embassies.

I didn't realize this, but apparently there have been a number of banks that didn't want to get involved as they worried about possible backlash from customers who don't approve of normalizing relations with Cuba. But as Stonegate reps put it, Stonegate is on the right side of history. Indeed!

Although I would add that by being the first bank on the scene, Stonegate's going to be on the right side of a huge business opportunity, too.

Nothing but success

The truth is, with Cuba and the U.S. normalizing relations, not only will Stonegate benefit, but both U.S. citizens and Cuban citizens are going to come out ahead, too. This is what I love about free market opportunities intertwined with non-violence. Everybody wins.

Of course, this doesn't mean smooth sailing from this point on.

There are still plenty of U.S. politicians hell-bent on derailing efforts to open up travel and trade with our Caribbean neighbors to the south. I'm sure Senator Marco Rubio is having a temper tantrum right now. But mark my words, relations between Cuba and the U.S. are on the mend. And I, for one, couldn't be happier.

As for Dave Seleski and Stonegate Bank, I wish for them nothing but success. Of course, with their willingness to come forward and do a good thing, they won't need any wishes from me. They've pretty much secured their future success with this deal.

As an investor, a supporter of non-violence, and a believer in the absence of hostile trade barriers, I look forward to this new relationship with the good people of Cuba, as well. New friendships will certainly be forged, new opportunities will be created, and a new generation of Cubans and Americans will live in world where they will know each other, not as strangers or enemies, but as friends, family, and allies.

¡La paz y la oportunidad es sobre nosotros!

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