The Treasurer September/October 2017

As I write, a standoff of worrying proportions exists between North Korea and the rest of the world; we look ahead to the results of a general election in Germany, the results of which might sweep away or usher in Angela Merkel and Emmanuel Macron’s plans for a more unified continent; and we look to the Brexit negotiations for enlightenment on the UK’s future trading relationship with Europe. Observing geopolitics is now more than ever a test of nerves. And geopolitics is far from the only game in town. The world faces other challenges, including, but not limited to, ageing populations among established and emerging markets alike, and the prospect of paradigm-shifting technologies forcing a whole new era in terms of what it means to go to work. For this edition of The Treasurer, we’ve enlisted members of ACT’s Future Leaders in Treasury (FLiT) group to probe these issues and to explore their implications. As Agnes Favillier, chair of the group, says on page 17, younger generations vote differently to their elders and have a different perspective and expectations about the future. The FLiT group was established to provide a forum and a platform for those views, particularly in relation to how they will shape the treasury profession of the future. Members of the group have also given us a taste of their views on how a fast-moving world affects them in the workplace in a piece on key trends. Turn to page 24 for their views on nfrastructure, diversity in the workplace, cybersecurity and more. The ACT’s Vanessa Harwood-Whitcher takes a closer look at different generations and how their differing priorities play out in the workplace, on page 46; Frances Coppola explores the profound consequences of changing demographics on page 30; while on page 28 futurist Richard Watson describes the growing capabilities of robotics and artificial intelligence, and explains why they are no match for the subtleties and distinguishing marks of professional conduct and human persuasiveness. As usual, we bring you a mix of treasury and technical updates, plus our regular profile – on page 20, we hear Kate Moorcroft’s story. In her year at the helm of Barratt Developments’ treasury function, Moorcroft has completed a crucial private placement and set in motion a cash and bank relationship review. She is a strong advocate for the ACT’s Mentor Me programme and believes in developing the young talent in her own team – a supportive voice for younger treasury professionals. Enjoy the issue. -Liz Loxton, Editor

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