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Is diversification the key to success? Hear from Wise’s CFO

Madi Corr

18.05.26

Read time 1 minute

In today’s economy, there’s one thing business owners can be certain of: uncertainty. Volatility has fundamentally changed the way businesses operate. And while there’s no quick fix for navigating the unpredictable, preparation can help.

We sat down with Wise’s Chief Financial Officer, Emmanuel Thomassin, to get his insights on diversification and advice on protecting your operations from the uncertain.

The global macro environment at the moment is quite volatile. There's tariffs, there's FX volatility, there's shifting investor sentiment as well. How does that change the way that you plan and forecast in the finance function?

Emmanuel: I think what’s happened over the last 20 years since the financial crisis and also a bit before, proved that you have to be extremely flexible, that you have to reconsider your strategy potentially, that you have to adapt extremely fast. What we are witnessing today is not very different from COVID, is not very different from 2008 where within a few months or a few days, markets could experience significant volatility. So as a financial person, you have to be flexible, which is sometimes perceived as stressful, but it’s part of the job and keeps things exciting.

What steps can businesses take to protect themselves from this volatility? Can diversification of currencies and supply chains help them weather the storm?

Emmanuel: Diversification is one of the few tools businesses have to prepare for uncertainty. If you’re operating an import-export business, diversifying your supply chain amid new tariff policy could help you avoid unnecessary shipment fees and delays. We’ve seen this in the recent ‘China +1’ manufacturing trend. Similarly, if your business operates globally — say you have customers or a supplier or partner overseas — holding funds in multiple currencies can help you sidestep foreign exchange risk. That way, any movement in one specific currency won’t have too big of an impact on your cash flow or operations.

Should businesses consider operating globally from day one?

Emmanuel: In today’s economy, operating globally is a prerequisite for long-term success. More and more, businesses are planning for expansion at the earliest stages of their operations, whether that means building localised products, attracting US investors or hiring boots-on-the-ground teams. That doesn’t necessarily mean attempting to be everywhere at once — expansion will look different for every company. Rather, thinking strategically about your long-term goals and where, why and how you’ll expand can help you get a head start.

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