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

ACT’s Charity of the Year

We would like to give a huge thank you to all our members who recently helped raise an impressive £65,000 in aid of countering poverty in Kenya. Proceeds have provided funding towards creating more than 275 new microbusinesses and 350 new jobs. Dorothea Arndt, Hand in Hand CEO, Said: We are truly delighted by the ACT board and membership’s generosity (raising 20 per cent above target). On behalf of hundreds of future Hand in Hand entrepreneurs, the team in London and our colleagues in Kenya, thank you. “When the ACT selected Hand in Hand as its Charity of the Year, we

Cyber Advice for Corporate Treasurers

How treasurers can stay safe in the face of sophisticated cyber-crime. The most popular mechanisms for cyber-attacks consist of phishing, whaling and CEO fraud. Treasurers have many systems in place to combat these and their IT departments will provide basic technological protection measures to combat known threats, but it is worth considering these attacks and their impact in more detail. Zero day Zero day is the term used when a unique cyber attack first manifests itself and has no known defence. It is vital in the event of a zero day attack that the information around the attack is shared

ACT Cash Management Conference speaker Q&A: Austin Matthews, Assistant Treasurer, Sky

On 12 February the ACT will be running the ACT Cash Management Conference in London. This flagship conference provides a unique opportunity to share best practice, hear practical case studies from leading corporates and network with fellow cash management and treasury professionals. We conducted a short Q&A with one of this year’s speakers, Austin Matthews, Assistant Treasurer at Sky and this is what he said; 1. Tell us a little about yourself – how did you first get involved in treasury? After graduating I started working at a telecoms company called Energis in the cash team – performing bank reconciliations