Editorial
Where will you be on 16 April? I only ask because I expect a significant number of our readers to be at the UK Treasurers’ Conference in Birmingham, ready for three days of education, enlightenment and, believe it or not, entertainment (if the presentation last year by Dennis Turner of HSBC is anything to go by). The conference brings together the considerable treasury expertise of the Association with the excellent organisational skills of EuroFinance and it should be even more successful than last year, with over 400 expected to attend. It is not too late to register, so please contact Makayla Rahman on 020 7213 0703 or email mrahman@treasurers.co.uk.
I hope that those of you who are there will take the time to come and visit the hardworking ACT team (see last month’s Editorial piece) at our stand. I can’t promise not to pressgang you into writing for us or buying the new edition of the Handbook, but it will give you a chance to make your views known about The Treasurer and the other activities of the ACT. You will also have the opportunity to test out the fascinating e-learning programme for the International Cash Management Certificate which has been pioneered by the ACT.
The past few editions have included articles from a number of speakers at UKT. Mary Keegan of the ASB contributed last month and this time we include an article from Christopher Huhne MEP on why Britain should join the euro. Love or hate the idea, or any points in between, it should be an interesting debate.
On the final day of the conference, Jack Large discusses corporate treasury outsourcing and he provides a major feature within this month’s Spotlight on Outsourcing. His article includes a detailed breakdown of what outsourcing services are available. Many of the Spotlight contributors are keen to persuade readers of the benefits of outsourcing, as you might expect. If you are considering outsourcing any aspect of your treasury function, the articles provide useful insight and practical advice, as well as some words of warning.
Finally, Wednesday 13 November may seem a long way off, but the Annual Dinner is proving more popular than ever, with the Guest Speaker the Rt. Hon Sir Edward George proving to be a major attraction. Prospective hosts need to book as soon as possible to avoid disappointment – over 100 tables have already been reserved, and if you have a preference for the balcony or for downstairs, you should ask now before you are allocated a spot you don’t want.
MIKE HENIGAN
Managing Editor
Financial losses, due to fraud or error, can have a disastrous effect on your company. so it pays to keep a look out for the warning signs, says Daniel Moore at Ernst & Young.
Nigel Astbury of PMC Corporate Treasury Consultants focuses on five different organisations to find out how they handled their refinancing corporate debt needs.
Professor Daniel Hodson discusses the important role technology has to play in decision-making. Yet treasurers fear not, humans are still far from being obsolete.
The big debate between the Chancellor and the Prime Minister over Britain’s euro membership is still unresolved. Within the Treasury, some influential voices argue that Britain does not lose out by delaying. Surely it makes sense, they say, to see how the system survives in bad times, as well as good, before deciding to go in – especially since we have a carefully negotiated opt-out.
This is always a tempting argument. It combines the Whitehall doctrine of unripe time with the natural instinct of the cautious politician to delay any decision that will alienate someone. However, it is surely wrong. There are real economic and political costs in Britain’s delay.
Securitisation is an invaluable way for companies looking to lighten their balance sheets. But what is securitisation and how does it all work? Tom Ross of bfinance finds out.
Outsourcing has played a big part in the success of BP downstream. In this article, CFO Alan Eilles shares some tips on how to find the best outsourcing partner.
Bhav Ubhi-Hull of Citibank considers the issues that must be taken into account before outsourcing, while John Fulton of Cocacola Hellenic Bottling Co takes us through the decision-making process.
The increase in outsourcing makes perfect sense in today’s global business environment. Mario Tombazzi of JPMorgan Treasury Services explores the issues.
Can outsourcing really add value to the share price performance of a company? Bob Fawthrop of Logica looks at the facts and figures to find out.
Mark Wyllie of Central European Media Enterprises Group is all for outsourcing. Here he explains the choice of Royal Bank of Scotland to manage its treasury operations.
With so many providers to choose from, there has never been a better time to buy corporate treasury outsourcing services, says Jack Large of J&W Associates.
Thinking of outsourcing certain aspects of your company’s business? Never fear, Robert Sumroy and David Wittmann of slaughter and may are here to show you the right way.
Outsourcing daily cash management activities makes sense for busy treasurers. But what are the options? Liam Whelan of Bank of Ireland finds out.
With so much material freely available,what are the benefits for firms paying out for independent research? Asks Roger Bootle of Capital Economics.
