Christmas is getting ever closer, and so once again it was time for the annual ACT Treasury Forum, in alliance with HSBC. It brought together a select group of treasury leaders in the fabulous surroundings of the Grosvenor House Hotel for an afternoon to discuss and be updated on the key issues facing senior treasurers today.
The wider economic and political situation provided the basis for strategic discussions underwriting all aspects of a treasurer’s role, and so HSBC’s Global Chief Economist, Janet Henry, gave this background to open the event, providing the context for the subsequent discussions.
A vital and unique part of the ACT Treasury Forum is the various discussion groups – covering seven different areas this year – allowing for greater sharing of thoughts and ideas between the facilitators and the audience. From developing leaders to treasury investment priorities for 2020, payments innovation to Brexit and Treasury 4.0.
A theme that is breaking the ice of the modern treasury function is the impact of ESG, particularly in relation to funding, so we had a discussion featuring case study perspectives: from the Group Treasurers of Anglian Water and the Co-operative Group, Jane Pilcher and Scot Morton respectively, with HSBC’s MD for DCM, Ben Broad providing his perspective, and Grosvenor’s Group Treasurer, Ian Chisholm moderating proceedings.
Hearing what other treasurers are doing, particularly from those leading the way, helps to avoid the pitfalls that first-time implementation may lead to, and nothing is more significant here than the transition away from LIBOR. The contributions of the Group Treasurers of Associated British Ports and 3i, Shaun Kennedy and Ian Cooper, were highly valued in our closing panel. But the perspective of the regulator is always useful to hear and the FCA’s Head of Markets Policy, Richard Fox, gave an excellent and succinct outlook on the transition and where the market is, as well as what treasurers should be doing now; and HSBC’s Susan Urkevich gave the banking viewpoint, explaining the need to work with your banking partners, who can support you during the transition.
As the afternoon came to a close, preparations began for the ACT Annual Dinner, which brought together almost 1,500 treasury and finance professionals for an evening of good food and conversation, with a fascinating talk by Sir Chris Hoy MBE, and a video message from HRH Prince Charles celebrating the ACT’s fortieth anniversary. Overall, we raised just shy of £64,000 for our Charity of the Year, Hand in Hand International – so an excellent evening for all!
