Welcome to the first issue of the Middle East Treasurer for 2014. With optimism returning to the world markets, this is expected to be a good year for business and a year that should bring exciting opportunities for those who work in corporate treasury.
Treasurers who are based in the Middle East will probably enjoy greater opportunities than most.
Not only is the region itself growing rapidly, but more and more of its companies are starting to see the benefits of investing in a professional treasury team. While the number of treasury roles in the Middle East is not large at present, it is increasing all the time – as is the popularity of the ACT’s qualifications.
The fact that treasury is truly coming of age in the region is evidenced by the success of last year’s ACT Middle East Annual Conference, which attracted nearly 400 delegates – a record for the event. A poll of the audience at the conference revealed that 86% had seen an increased focus on corporate treasury activities from the board and executive management. ACT engagement director Peter Matza, who reports on the conference on page 4, suggests this is an indication that “treasury and treasurers now have the recognition and visibility they deserve”.
One treasurer who is very visible in this issue is our cover star Matt Norris, group treasury manager at oilfield service company Petrofac. He was recognised with a Student Achievemet Award by the ACT at the ACTME Deals of the Year Awards reception, which took place in November. (See page 9 for coverage and photos of the event.) He is a staunch advocate of the AMCT and explains why the qualification should be mandatory for senior treasury professionals, in our profile interview starting on page 10.
I hope you enjoy this issue of the Middle East Treasurer and I wish you the best of luck in 2014.