The Impact of Brexit: A Treasurer’s Perspective

The latest in the ACT’s Brexit series was our breakfast briefing, hosted by the Falcon Group on 4 April, which looked at the key issues facing treasurers at this time of great uncertainty. With the situation ever-changing and a no-deal Brexit too likely for comfort, which was highlighted by the keynote speaker, Sanjay Raja, although the threat of this has somewhat dissipated through the passing of the Cooper-Letwin amendment requiring the Government to avoid a no-deal by forcing a long extension to be sought. Raja, UK Economist at Deutsche Bank, opened with the appropriately titled presentation ‘A Long Goodbye’, highlighting

Meeting members in East Africa

A few weeks ago, I was at our annual East Africa Treasury Forum in Nairobi meeting our members and reinforcing the presence of the ACT and the role of the treasury function in the region. After my short welcome giving the audience an overview about the ACT and what we do, and some opening remarks from our very able chair, Sydney Wechuli of the Nairobi Securities Exchange, we had an exciting and informative opening keynote from Standard Chartered’s Africa Strategist, Eva Wanjiku Otieno, who talked about key economic factors worldwide from the changing strategy of the US Federal Reserve to

Future Leaders in Treasury – The importance of resilience

Resilience. What is it? The term resilience means so many different things to different people. Is it a perspective – rationalising what you are up against and working out how big a deal it really is? Is it adaptability – knowing when you can need to step up and when you can take it down a notch? Is it your ability to bounce back – how well do recover from difficulties and how quickly can you carry on? Resilience is not about being able to do huge amounts of things. It is not about taking on the highest pile of

GTR Turkey 2019

Your correspondent likes a busy life. No sooner returned from Dubai than I was off for a debut appearance, speaking for the ACT for the first time at the GTR Turkey event in Istanbul. If you’ve never been, go. A huge complex city and country that is an important trade partner for the UK. In fact the UK is their second largest export market after Germany. As with many other emerging/developing/maturing (take your pick) markets, Turkey’s treasury and finance issues are familiar yet have their own twist. Yes currencies fluctuate but the Turkish Lira fell 65% against the dollar during

Deals of the Year Awards – celebrating treasury success

Phoenix Group, the specialist consolidator of heritage life assurance funds, was declared the overall winner at the 2018 ACT Deals of the Year Awards, held on Thursday 7 February, for its £2.9bn acquisition of Standard Life Assurance Limited (SLAL). The Awards were held at London’s Banking Hall, with an audience of over 150 senior treasurers and treasury specialists. Caroline Stockmann, ACT chief executive, and Scott Barton, managing director, large corporates at Lloyds Banking Group, welcomed guests to the annual ceremony. Senior treasury and finance professionals from corporates internationally had come together to celebrate excellence in the treasury profession at the

Connecting cash in a digital world – conference roundup

The ACT Cash Management Conference was back and packed more talks, discussions and detail in a focused new 1-day format. From regulation and cybersecurity to corporate case studies and liquidity management, the day featured it all, including the one topic that unsurprisingly kept being mentioned: Brexit. Opening the day was Barclays’ Global Head of Transaction Banking, Karen Braithwaite, who began the event with a look at the evolution of cash management including recent developments. Sky’s Assistant Treasurer joined rating agencies, Fitch Ratings and S&P Global Ratings, and Chrysoula Zervoukadis of Edison Investment Research, for a discussion moderated by Barclays’ David

Taking the temperature of trade

It’s been my good fortune over the past 4 years to represent the Association of Corporate Treasurers (ACT) at the GTR MENA conference, held in the familiar surroundings of Dubai. It’s an excellent opportunity to take the temperature of trade, not just in the Gulf region, but from a wider global position. The ACT stake in the event is to offer trade finance professionals a dedicated treasury workshop which this year focused on Islamic finance, cash and liquidity challenges and how treasurers manage technology in treasury and across their organisations. Shout-outs then to treasurers from OneFoods, GE, Webcor, National Oilwell

Tackling cyber risks in treasury

On 14 January 2019, the Association of Corporate Treasurers (ACT) alongside the European Association of Corporate Treasurers Cyber Security Working Group hosted an event at Barclays’ head office to discuss current trends in the cyber security space and ways of mitigating cyber risks. The event featured a panel session with a line-up of speakers from companies including the City of London Police, Standard Chartered, Global Cyber Alliance, Steelcase and Barclays.   The source of many headaches As companies continue to evolve digitally, they also become increasingly more vulnerable to cybercriminals deploying more sophisticated attack methods. Daniel Piper, Detective Inspector from