ACT Structure

Council is the governing body of the ACT. It is ultimately responsible for the stewardship and management of the ACT’s affairs and accountable to the members. Day-to-day management is delegated to the Chief Executive and, through them to the Executive team.

Council consists of up to nine elected members who serve a three-year term, four Officers – President, Deputy President, Vice President and Immediate Past President – and the Chief Executive. The normal succession route for Officers is Vice President, Deputy President, President and finally, Immediate Past President with each post lasting one year.

For further information about Council and its committees please contact Ria Robinson rrobinson@treasurers.org

Chief Executive

Caroline_for council pagesCaroline Stockmann, Chief Executive

Please provide a brief description of your career

Prior to joining the ACT, I held the position of Chief Financial Officer at The British Council, the UK’s largest charity (turnover £1bn), and before that at Save the Children International (t/o $1bn). I have 25 years’ experience in senior finance, commercial and strategic posts at a number of commercial and charitable organisations including Granada plc, Unilever/ Bestfoods, Southbank Centre and Novartis Pharmaceuticals (Switzerland). Much of my working life has been spent overseas.

I initially trained with KPMG and am a Fellow (FCA) of the Institute of Chartered Accountants of England and Wales (ICAEW). I hold the ICAEW Diploma in Charity Accounting and have filled numerous roles as trustee over the years. I am currently Treasurer of the Open University, a lay trustee of Southwark RC Archdiocese and a member of the Finance and Investment Committee of the Elton John AIDS Foundation.

What do you like about working in treasury?

Time and time again I am struck by how engaged our members are – engaged in their profession, in raising the standards of those who work in this area and in their commitment to what we, the ACT, do. Treasury can really make a difference in terms of stability of organisations and economies, and I really like the forward- and external-facing nature of the profession. So, in summary, it’s the people I work with, be they ACT staff, our members, or other stakeholders.

Why should members get involved with the ACT?

We cannot do anything without input from our membership and we love to hear from you! What is worrying you? What do you need us to help you with? How do you see treasury evolving over the next 3, 5 or 10 years? We are actively encouraging members to get involved with what we do – whether you have a few hours to spare or can dedicate a significant amount of time we would love to hear from you and I encourage you to visit www.treasurers.org/getinvolved

What 3 words best describe you?

Energetic. Passionate. (Having great) Integrity.

What is the best piece of advice you have ever been given?

Make sure you get enough sleep.

Please tell us something interesting about yourself.

I am a linguist, musician (flute/piccolo), and passionate bell ringer. I received ‘Civil wings’ from the Royal Thai Air Force, for support I gave during the 2004 Tsunami.

Council members for the term commencing 1 May 2018

We have asked our council members to provide some information on their career history, why they have become involved with the ACT and what they do in their spare time. Read their members profiles below.

Ian Chisholm for council pages on websiteIan Chisholm FCT, Vice President Corporate Finance, BHP Billiton
President

Please provide a brief description of your career

After 26 years of finance and treasury roles in Shell, I moved to BHP and expanded my portfolio of commodities to cover iron ore, copper and coal. My current role is VP Corporate Finance, looking after the financial strategy and all of the debt for the company.

What do you like about working in treasury?

Treasury is the best bit of finance by far – it’s forward looking and externally focussed.

Why should members get involved with the ACT?

Getting involved with the ACT helps you with your skills, your career and your network.

What three words describe you?

Professional, approachable and pragmatic.

What is the best piece of advice you have ever been given.

"Enjoy the job you are doing, and the rewards will come with it."

Please tell us something interesting about yourself.

I once skied with only a red nose on to raise money for Red Nose Day.

Paul Wilde_for council pagePaul Wilde FCT, Group Treasurer, Shawbrook Group
Deputy President

Please provide a brief description of your career

I have worked in treasury-related areas of financial services throughout my career, but that has given a lot of scope for variety. It has included being part of the restructuring negotiations for Lloyds of London in the mid-90s and restructuring ABN Treasury for RBS in the late 00’s; working in Group Risk at Abbey; securitisation for Egg; leading an investment banking team at Bank of America; and being European Treasurer for both the global derivatives broker Newedge and the Brazilian bank Itau BBA. I am now Group Treasurer for Shawbrook.

What do you like about working in treasury?

There are a lot of things that I like about working in treasury, but I will name just a couple. The Board set the aspirations and vision of a company, but treasury is where dreams meet the hard reality of the external market, where the rubber hits the road. I love working in the area where you need to make theory and facts mesh together into something that works, where there is no room for pretence. I also like that fact that the people in treasury are smart and rewarding to work with.

What would you like to achieve during your tenure on Council?

The ACT is a great organisation. It really sets the standard for treasury education. I want to do my bit to ensure that those standards are maintained. I also believe that for the ACT to thrive it has to ensure that employers recognise the value of recruiting treasury-qualified staff. I will add my voice on Council to try to make sure that is high on the agenda.

Why should members get involved with the ACT?

It is your association, why would you not want to be involved? The ACT has an important voice on lots of topics, but it is only as strong as the collective voices of its members. The Policy & Technical team draws on the support of members to deliver its twin objectives of influencing decision makers and informing treasurers.

What 3 words best describe you.

Intelligent, determined, good-humoured.

What is the best piece of advice you have ever been given?

If you want a job for life, make sure that you have skills that people need.

Tell us something interesting about yourself.

I am a second Dan black belt in Karate. All bankers have to learn self-defence these days!

Agnes F_for council websiteAgnes Favillier AMCT
Vice President

Please provide a brief description of your career

I started my career at British American Tobacco as a Finance trainee within their graduate programme. I discovered Treasury during my traineeship, and joined their Treasury Front Office team after the programme. I then spent several years in Risk Management / Front Office roles within several multinational companies, as well as a few years within PwC's Finance Consulting team.

What do you like about working in treasury?

Having worked primarily in risk management roles, I obviously enjoy understanding financial market dynamics and assessing their impact on the organisation now and in the future. But the business partnering aspect of my roles is the most rewarding, as I can effectively support the business achieve its strategic objectives through advice and guidance on how to best manage its risk. Last but not least, I greatly enjoy the variety in stakeholder interaction, within the business and externally.

Why should members get involved with the ACT?

Being involved with the ACT - volunteering to support ACT initiatives or just attending events - is a great way to network and find out what your peers are doing, how they may be approaching similar challenges within their organisation. The world of treasury changes constantly - organisations themselves, technology, products, regulations - and having a good network within the ACT's varied membership is an excellent way to stay on top of these changes.

What three words describe you?

Dedicated, dependable, optimistic.

What is the best piece of advice you have ever been given.

I received this piece of advice during my consulting days, but I think it also greatly applies to the world of a corporate treasurer (and anyone within the workplace for that matter). "Tell your audience a story. When you have a message to convey (work presentation, pitch, report etc), make sure to check that your objectives are clear, and your arguments are concise and well-articulated, so that your audience comes on a journey with you."

Please tell us something interesting about yourself.

Instead of committing to New Year’s Resolutions, I give myself a few challenges every year, with the mantra “do more of what makes you happy”. I have been a keen runner for about 10 years now, and to keep myself motivated, I have set myself the challenge to run 1,000 miles before the end of this year.

Peter G_for council pagesPeter Goshawk FCT
Immediate Past President

Please provide a brief description of your career

I qualified as an accountant (CIMA) with British Railways Board in 1981 and asked for my first appointment to be in Treasury. I then worked as a Corporate Treasurer (British Rail, Hawker Siddely, Grand Metropolitan) for the earlier part of my career. I became a member of the ACT in 1985 (I think). Later I crossed to Banking and spent a substantial part of my career in Barclays, finally as Group Treasurer. I ended my executive career running a business for Bank of Ireland in the U.K. In my non executive career I now hold two Trustee roles for pension funds (Barclays, ANZ(UK)) and two Board roles for the UK regional subsidiaries of international banks (Daiwa Capital Markets Europe, ICBC London PLC). I am also a member of the Investment Committee for the British Heart Foundation.

What you like about working in treasury?

Treasury has always been to me the most fascinating area throughout my career. Managing the balance sheet of a large banking group is complex and essential to the good health of the company. This task became all the more demanding during and since the financial crisis.

Why should members get involved with the ACT?

If members get actively involved in the ACT they will find it a welcoming environment with the opportunity to meet their peers and share issues and experiences. It should help them to do their jobs better with a wide network of support. Contributing to the ACT is a way of giving back to this profession. Shaping the future of the ACT is vital to ensure it delivers what members need. That is why Future Leaders in Treasury is so key in developing the ACT.

What three words best describe you?

The three words I would use to describe myself are enthusiastic, diligent and inquisitive.

What has been the best piece of advice you have ever been given?

The best piece of careers advice I have been given is to do a great job of what your are currently doing and you will be offered other bigger and broader things to do.

Please tell us something interesting about yourself.

I enjoy sailing and racing in a yacht on the river on the Norfolk Broads.

Elected members

Kerry AT_for council pagesKerry Attwell Thomas FCT, MCT Tutor

Please provide a brief description of your career

I started my career as a Chartered Accountant at Price Waterhouse in the early 80s before moving into the corporate world. Several planning and financial control roles later I arrived in treasury at Unipart and completed the MCT Diploma in 1993, fully intending to get back into a mainstream finance role within two years. You should always have a plan, but never expect to carry it out! As Eisenhower said, “Plans are useless, but planning is indispensable.”

My treasury experience is almost entirely in the LBO sector. I was the CFO at Ineos, the petrochemical conglomerate, where I arranged the initial buyout finance and subsequently worked on several major acquisitions including Lucite International, the European Vinyls Corporation and Degussa’s (now Evonik) Phenolchemie business.

I hold a Postgraduate Certificate of Education – I flirted with the idea of teaching mathematics - and have been involved with the MCT Diploma for over 10 years, authoring some of the material and delivering all the classroom sessions.

What do you like about working in treasury?

I like to be at the heart of things. Strategic planning, M&A and treasury are all great places to work.

What would you like to achieve during your tenure on Council?

I would like the ACT to promote treasurers as potential CFOs, rather than to focus on treasury as a career in its own right. As an MCT tutor for over 10 years, I know there is some great talent within our membership. Sadly those responsible for filling CFO positions – both boards and recruitment consultants – haven’t really recognised this.

Why should members get involved with the ACT?

For the same reason you should be involved in all aspects of life. It is not enough to be a spectator and talk about them as if they are not part of what you can influence. One of my favourite quotations is, “All that is necessary for the triumph of evil is that good men do nothing.”

What 3 words best describe you.

I always think this question is a little trite, but I quite like Illegitimi non carborundum.

What is the best piece of advice you have ever been given?

“Always plan for 30% free time.” Tony Mourgue, the Group Finance Director at Unipart, advising me that was the best way to get on. If you’re indispensable, you can’t work on anything else.

Tell us something interesting about yourself.

I love mountain trekking – ideally anywhere you can only walk, climb or fly. The views, the air, the isolation are to die for. A few years ago I walked the GR20 (16 stages/180km) along Corsica’s watershed and more recently schlepped around the Picos de Europa in Northern Spain. At one point we had to climb down a waterfall to avoid some ice, and my son memorably advised me, “Don’t come down this way. It’s a bit dodge.” Risk management at its most basic. I’m hoping to have a crack at the AV1 in the Italian Dolomites next year.

Charlotte Morgan_for council websiteCharlotte Morgan AMCT, Non-Executive Director, FCE Bank (Ford Credit)

Please provide a brief description of your career

Like many ACT members my first professional qualification was as a Chartered Accountant. I trained and qualified at Price Waterhouse (as it was then) in London, and after a few years post-qualification experience at PW, decided to become more closely involved in the practical side of running a business. I held several finance roles in banking and financial services and was then fortunate enough to be appointed to run a combined tax and treasury team at Standard Chartered. I now have a portfolio career, my main role being as non-executive director at FCE Bank plc (Ford Credit).

What do you like about working in treasury?

In my experience, treasury involves the most complex and interesting aspects of finance, and it’s also central to the health of the business.

What would you like to achieve during your tenure on Council?

I am keen to promote more dialogue with members on current economic challenges, and help the ACT develop its existing global links and its recognition as a leading professional body.

Why should members get involved with the ACT?

To enjoy the camaraderie of a professional body where many of the members work in corporates, so you can share ideas and solutions to the challenges faced by your business.

What 3 words best describe you.

I try to be professional, conscientious and considerate to others – you would have to ask them whether I succeed!

What is the best piece of advice you have ever been given?

Well I’ve had lots of good advice, but the advice of a highly valued colleague to get more involved in the ACT has worked out very well for me!

Tell us something interesting about yourself.

I work with young musicians, chairing an experimental opera company called Second Movement.

Dino_final_webpageConstantinos (Dino) Nicolaides AMCT, Head of Treasury Advisory, Redbridge Debt & Treasury Advisory

Please provide a brief description of your career

Having completed my degree in Economics from Cambridge University, I qualified as a Chartered Accountant in Financial Services Audit of Deloitte in London. I then moved to Cyprus as an Audit and Advisory partner in a local firm. Most of my advisory work was in Finance and Treasury so in 2004 I qualified with the ACT which has broadened my horizons. In 2007 I returned to London and have since been advising FTSE 350 and global corporates in key areas of treasury as well as performing numerous secondments in senior treasury roles.

What do you like about working with treasurers?

Improving the efficiency and effectiveness of a treasury function which in my view is the life-blood of the organisation.

What would you like to achieve during your tenure on Council?

Provide a fresh perspective in promoting and supporting our profession and the ACT to the recognition they deserve.

Why should members get involved with the ACT?

To become an integral part of a community of likeminded individuals who can support each other in developing their careers and promoting the profession.

What 3 words best describe you.

Personable, principled and driven.

What is the best piece of advice you have ever been given?

Sleep well at night so that you glow during the day.

Tell us something interesting about yourself.

I am a professionally trained coffee barista and roaster!

Joe Peka_for council webpageJoe Peka AMCT, Deputy Treasurer, Urenco

Please provide a brief description of your career

My 19 year treasury career has encompassed treasury accounting, back, middle and front office roles. I spent most of my career in large corporates with the exception of a period working for a couple of the big 4 four treasury consultancy practices. My sector experience includes healthcare, insurance, energy and consumer goods.

What do you like about working in treasury?

I like working in treasury with its challenges, the rapidly changing external markets and with both innovation and complexity an ongoing consideration.

Why should members get involved with the ACT?

The ability to network and work closely with other treasury professional is invaluable as is interacting with peers outside of a conventional work environment.

What three words describe you?

Approachable, determined and considered.

What is the best piece of advice you have ever been given.

Your career is a marathon not a sprint, think long term.

Please tell us something interesting about yourself.

I relax by playing my guitars, otherwise known as torturing the ears of people around me.

Paul Reynolds_for councilPaul Reynolds Hon FCT, Director of Investment and Business Development, Africa, Inchcape

Profile to come.

Neil Wadey_for council pagesNeil Wadey FCT, Group Treasurer, British American Tobacco

Profile to come.

Peter WS_for council websitePeter Walker-Smith FCT

Please provide a brief description of your career

I have been working in corporate treasury at a series of multinationals for just under 10 years, primarily focussing on FX, investments and liquidity management. I spent five years at AstraZeneca (where I completed both the AMCT and MCT qualifications) before joining Walgreens Boots Alliance as Senior Treasury Manager in 2016.

What do you like about working in treasury?

The sheer variety that treasury offers - everything from (international) cash management to funding to complex risk management.

Why should members get involved with the ACT?

It is your professional body - getting involved helps it help you.

What 3 words best describe you.

Complex, passionate, sharp.

What is the best piece of advice you have ever been given?

If you don't know, or are really unsure of something, ask! It is by asking that we learn...

Tell us something interesting about yourself.

I am keen SCUBA diver and underwater photographer.

Co-opted members

Rob Alexander_for council websiteRob Alexander, Partner, Brunswick Group

Please provide a brief description of your career

I am a Partner at Brunswick, the critical issues and communications firm. I lead the global Campaign Planning offer; building long term reputation campaigns for companies across markets and sectors.

Before joining Brunswick, I worked for over 20 years in advertising as a Planner, responsible for creating brand and communications strategies. I have worked at TBWA/ London, part of Omnicom, on brands such as Apple, Mars, News International, Strongbow, and Thomas Cook as well as on the 2001 General Election campaign for the Labour party.

I joined WPP’s J Walter Thompson in 2004, working as the lead global planner on a series of WPP’s multinational corporate clients: Vodafone, Nokia, Shell and HSBC.

I was co-opted to Council in 2015, to provide a different perspective and skills-set, most notably in branding and communication.

What do you like about working in treasury or with treasurers?

I don’t work with treasurers or treasury – but find that I can provide a different viewpoint and set of skills to Council and the ACT.

Why should members get involved with the ACT?

The ACT is run by committed, expert staff for the benefit of treasurers and treasury. As an underappreciated but increasingly important profession, treasurers can benefit themselves and their profession by getting involved.

What 3 words best describe you?

Impatient. Creative. Foody.

What is the best piece of advice you have ever been given?

Try to do the things that only you can do, not what everyone else can do.

Tell us something interesting about yourself.

Before advertising I worked as a lighting designer in theatre and contemporary dance – and acquired a scaffolding safety qualification along the way.

David Brent_for council pagesDavid Brent FCT

Please provide a brief description of your career

I started my business life as an accountant in practice. I had a long career with BAe Systems and predecessor companies, the last 20 years as Group Treasurer until I retired in March 2015. Subsequently NED and Chairman of the Green Deal Finance Company, ultimately overseeing the sale of the company to a private sector consortium. Currently a Trustee of a small charity.

What do you like about working in treasury?

Working in treasury you are at the sharp end of the majority of key aspects of a business whether it is ensuring the business is financed appropriately, managing risk in its widest sense or financing sales. Very rarely is one day the same as another.

Why should members get involved with the ACT?

Members should get involved with the ACT as it is their chance to shape the future direction of the Association, it represents an excellent networking opportunity and allows for ideas and problems to be discussed with like minded individuals in confidence.

What three words describe you?

Unassuming, commercial and an achiever.

What is the best piece of advice you have ever been given.

Before embarking on a course of action, think it through one more time, bounce it off a trusted “ friend “ and consider how it is likely to be received by the counter-party(s).

Please tell us something interesting about yourself.

Interested in most sports throughout my life but on retiring decided to relearn and compete as a Bridge player having not played the game since school days! Early days but can now play at a reasonable club level.

Committee chairs (attend council meetings)

Matthew Hurn_for council pagesMatthew Hurn FCT, Chief Financial Officer, Alternative Investments & Infrastructure, Mubadala Investment Company
Chair: ACT Middle East Advisory Panel

Please provide a brief description of your career

I have over 25 years’ experience in treasury, corporate finance and risk management in both the public and private sector in the UK and Middle East. I was involved in the development and launch of the ACT’s initiatives in the Middle East and continue to be the Chair of the Middle East. I have been involved with various working groups, committees and groups over 15 years and am a Past President of the ACT.

What you like about working in treasury?

Every day is different. The impact of the work you do has a tangible impact on the business. The ability to blend core finance and treasury principles to operational and commercial issues.

Why should members get involved with the ACT?

The role of the treasurer is constantly changing. Make sure you are part of the change and help shape and influence the industry.

What 3 words best describe you?

Decisive, driven, unconventional.

What is the best piece of advice you have ever been given?

Always challenge the norm. Ask the question why?

Please tell us something interesting about yourself.

I am an endurance sports addict having run marathons and an ultra marathon (72km).

Alison Stevens_for council pagesAlison Stevens, Deputy Group Treasurer, Phoenix Group
Chair: Policy & Technical Advisory Panel

Please provide a brief description of your career

I started my career in operational research, but have worked in treasury since 1993. I am a debt capital markets specialist working for British Gas, BG Group and National Grid before joining Phoenix as Deputy Group Treasurer in 2011.

What you like about working in treasury?

Treasury is fundamental to a business and you can see the impact you have on its success. It is extremely varied through responding to changes in the external world – the economy, laws and regulation, and through preparing for and shaping changes to the business itself.

Why should members get involved with the ACT?

The ACT is the leading advocate of the profession, but relies on its members to make that happen. There are a wide range of areas where the ACT needs support and so there is likely to be something which interests you that you can be involved in and influence. It is also a great opportunity to network with other treasury professionals.

What 3 words best describe you?

Enthusiastic, committed, considerate.

What is the best piece of advice you have ever been given?

Think about what motivates others.

Please tell us something interesting about yourself.

I had two birthdays in 1990 (one in Fiji and one in the Cook Islands) through crossing the international dateline on my birthday.

Committees and Forums

The Council is supported by a number of voluntary committees and forums:

  • Membership Development
  • Policy and Technical

Each committee has a chairman who works closely with the appropriate department in the central office.

Advisory Panel

The ACT Advisory Panel adds value to the ACT by giving of its experience and insight to enhance the strategic thinking of the organisation. It also provides individuals who can chair or participate on a panel at ACT events, and who can use their influence to promote the ACT. Formed of a cross-section of individuals from treasury, stakeholder-type organisations (regulatory, banks, etc), government and professional (eg finance, education, digital), the board gives an external perspective in its advice and challenge to management, generating new ideas and some blue sky thinking. This support ultimately results in a high-performing membership body which is financially sustainable.

The current members of the Advisory Panel are:

  • Chris Jones (Chairman)
  • Philippa Foster Back CBE, Director, Institute of Business Ethics
  • Paul Boyle OBE
  • Thomas Davies, Founder and Chief Executive Officer, Temporall
  • James Douglas, Vice Chairman, Deloitte LLP
  • Richard Gillingwater CBE, Chairman, SSE plc & Henderson Group plc
  • Julia Hoggett, Director of Market Oversight, FCA
  • Scarlett MccGwire
  • Mark Morris, Chief Financial Officer, Seadrill Partners LLP
  • John Plender, Leader & Feature Writer, Financial Times
  • Ian Plenderleith CBE, Chairman, BH Macro & Morgan Stanley Bank International Ltd
  • Dr Tony Watson CBE, Senior Independent Director, Lloyds Banking Group
  • Rebecca Worthington, Chief Financial Officer, Countryside Properties (UK) Ltd

For further information about our Advisory Panel members click here

Appointments, Remuneration and Audit Committee (ARAC)

ARAC is chaired by the Immediate Past President and consists of the President and up to three other non-Officer members of Council. In addition there may be up to three non-Council members. ARAC members are appointed by Council with at least one member being a qualified accountant. It meets four times a year and more frequently as required; at least once a year ARAC meets with the auditors without members of the executive team present.

The current members of ARAC are:

  • Peter Goshawk (Chair)
  • Ian Chisholm, Vice President, Corporate Finance, Group Treasury, BHP Billiton and President, ACT
  • Agnes Favillier, Vice President, ACT
  • Stevan Rolls, Partner, Global Talent, Deloitte
  • David Swann
  • Yann Umbricht , Partner, PwC
  • Paul Wilde, Group Treasurer, Shawbrook Bank and Deputy President, ACT
  • Laura Worboyes, Head of Investment Operations, Amlin Investment Management Ltd

You can download the ARAC Terms of Reference and the ARAC Control Schedule (Appendix A).

The Senior Leadership Team

  • Caroline Stockmann, Chief Executive
  • Sarah Boyce, Associate Policy & Technical Director
  • Melissa Brittain, Head of HR & Facilities
  • Natalie Eggins, Director of Learning and Member Support
  • Janet Legge, Director of Awarding Body
  • Denis Murphy, Commercial Director
  • Sarah Netherway, Director of Global Events
  • Michelle Price, Associate Policy & Technical Director
  • Joy Saunders, Director of Finance
  • Sharon Newell, Director of Marketing & Communications
  • Ria Robinson, Director of Membership & Governance

ACT Treasury Networks

There are a number of ACT Treasury networks in the UK and other countries. Through regular meetings, they provide support to members, students and other interested parties. Each group is run by one or more members - Treasury Network Ambassadors.

Be the first to hear of treasury news, regulatory change, plus receive discounts on ACT event tickets and more..

Join ACT networks

Visit the ACT blog site

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