It has been another year of remarkable work for the teams that have come together to achieve the very best deals for their organisations. This is my fourth year as chair of the judges’ panel, and once again I have been so impressed with the quality of the entries – they have been getting better and better, and the level of sophistication and innovation continues to rise!
The downside of this is that it has been another hard year for the panel of judges as they have assessed, scrutinised and debated the merits of each of the entries. So, I would like to recognise here all their hard work and dedication – without their support, the awards would simply not be possible and they are a shining example of the very best to be found in our treasury community – I thank each and every one of them.
The winners are a credit to our community and it is right that we take the time to celebrate their successes and showcase the vital work that treasurers undertake
Of course, the backdrop against which the treasury teams for all the submissions were working was one of continuing instability, geopolitical uncertainty and financial market volatility. But nevertheless, the judges consistently praised the determination of our winners, who have been able to execute some of the most complex refinancings, bond issues and loan negotiations with peerless professionalism and innovation. They are a credit to our community and it is right that we take the time to celebrate their successes and showcase the vital work that treasurers undertake to ensure their businesses, from public sector organisations through to the largest multinational companies, continue to thrive in a never-ending cycle of economic challenges.
Resilience can be an over-used word, but I believe that the teams behind the deals, small, medium and large, continue to show how much can be done, often with very constrained resources. It bears repeating how treasurers are now firmly embedded within their wider businesses, and how they continue to demonstrate their understanding of corporate objectives and strategy.
Treasurers are being called on to do more with less – I’m sure you will agree that the remit continues to expand, unlike the teams themselves
Sadly, this was my last year as chair of the judges’ panel, and it gives me great pleasure to hand over the reins to Alexandra Lewis, group treasurer of National Grid. I know I am leaving the panel in very safe hands. Looking back on my time as a judge of these awards, a constant has been the high quality of the deals themselves, and I’m delighted to report that the quality of the submissions continues to improve each year!
In my five years on the panel, we have lived through a pandemic that saw the spotlight shine very brightly on treasury teams – working out how to keep afloat those businesses most affected by lockdowns, disrupted supply chains and unpredictable financial markets. Treasurers truly had their ingenuity tested during this time, and as some of this year’s winners will show, the echoes continue to reverberate today.
We have also seen how ESG has become mainstream, demonstrated by the fact that we no longer have a separate category for sustainability-linked deals – as the market evolves, not all the deals submitted this year had specific ESG linkages, but there were elements apparent throughout the whole process.
At the same time, treasurers are being called on to do more with less – I’m sure you will agree that the remit continues to expand, unlike the teams themselves! And I’m equally sure that the effective use of technology in the treasury function remains key to success in the future as we begin to embrace the advantages of artificial intelligence.
Finally, my congratulations go not just to the winners, but to all those who took the time and trouble to send in their nominations. I might be standing down as chair, but I will still look forward to hearing about their success in 2025!
Lynda Heywood is a non-executive director and former group treasurer at Tesco
The ACT Deals of the Year Awards are run by treasurers for treasurers. As such, some judges represent organisations that have entries in the awards. Integrity in the judging process is paramount for the ACT and to avoid any conflict of interest, any judge with a potential conflict abstains from the process in the relevant category/ies. You can read more about the judges here: https://www.treasurers.org/events/awards/doty-24/judges