The Treasurer December 2001

Editorial

Welcome to the final edition of the year, where we have the usual selection of articles reflecting on some highlights of the year and examining the crystal ball for what lies ahead. The main feature of this edition is the Deals of the Year (p35), where we have selected eight deals which stand out from the crowd from the treasurer’s point of view (not the banker’s – the two do not necessarily coincide!). Joanna Parker has undertaken the lengthy task of speaking to the finance people on the corporate side, as well as their bankers, to get the inside track. I am very grateful to Joanna for her hard work in pulling all the interviews and data together.

We have also rounded up our Wise Men, who provide the regular economic updates, to look ahead at prospects for 2002 (p53). I hope you don’t feel too gloomy after reading them. Likewise the future for the loans, bonds and equities markets.

In the International section, Jan Kooi provides his regular review of tax developments around the world, and the main body of the magazine is rounded off by Ian Magness’ assessment of treasury careers in difficult times. Readers will also be interested in our News report on Robert Walters’ recent treasury salary survey.

One area which is very topical is that of pensions, and I am pleased to include an article from John Ralfe at Boots outlining the background to their recent pension fund activities (p20).

The Boots issue has been very timely in that it coincides with the launch of the ACT’s latest publication Pension Schemes – Controlling the Corporate Risk. Once you have read it, it is certainly worth putting a copy on the desk of your FD or anyone else involved in managing your company’s pension scheme – you can always purchase a second copy for your own shelf.

I write this having enjoyed another very successful Annual Dinner at the Grosvenor House Hotel – full coverage will appear in the January issue. It is always good to meet up with so many regular readers and contributors among the 1500 guests. To those I did not manage to catch up with, I hope you have a very happy Christmas and New Year.

MIKE HENIGAN
Managing Editor

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