The first day of the Association of Corporate Treasurers annual conference (the 40th) showed the stresses and strains and the opportunities in today’s UK:
- Stresses and strains
- Brexit: even Channel 4’s lovely Jon Snow could find nothing useful that we can do about stopping the calamity that is Brexit
- Post-LIBOR, the new SONIA world: the regulators are not ready and still developing new standards, none of the banks are ready, let alone the corporate treasury departments. It is a car crash waiting to happen
- Global warming is now accepted as a real threat, but we are only starting to tackle the problem
- Opportunities and good news:
- Corporate treasury is finally starting to focus on sustainable finance and the opportunities it represents, with double the number of attendees at sessions, etc.
- Corporate treasury departments are moving into a new phase of efficiencies in their operations and payments as they take advantage of new technologies and the new opportunities from fintechs
- New concepts in carrying out corporate treasury are still appearing: there were at least two new products/services introduced at the conference yesterday which could change the way corporate treasury operates and accepted best practices
- Inevitably much of the conference and exhibits were about ’same-old’ solutions and best practices
- Refreshingly there seems to be an acceptance in the banks, the suppliers and the corporates that things have to change.
CTMfile take: Much more on this over the coming days and weeks.
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