Cuba’s unlikely banking pioneer

Urbane and well-groomed, career banker Dave Seleski is an unlikely revolutionary. Tiny by US standards, with assets of around $3 billion, Seleski’s Stonegate Bank has found itself in the extraordinary position of being the only US bank to be authorized by both Washington and Havana to do business in Cuba. The nimble Seleski has, for the moment at least, an effective monopoly on US banking with Cuba; his reward for resolving an issue that had threatened to derail Washington’s diplomatic rapprochement with the Castros.

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