RECAP | Cash and Treasury Management Event Copenhagen | By Pieter de Kiewit

06-09-2022 | cashandtreasury.dk | treasuryXL | Pieter de KiewitLinkedIn

 

Last week, Pieter de Kiewit was Chairman of the Cash & Treasury Management Conference in Copenhagen. Pieter decided to take the effort to share his experience with you.

 

By Pieter de Kiewit, Chairman of the event

Corporate treasury events come in many shapes and sizes. Earlier this year, I reported on my visit to Mannheim, in a few weeks you can expect a blog about Vienna, in this blog more about Copenhagen. I can already tell you that I liked the format and set-up of this event.

Corporate treasury markets will always be very niche. The event organiser, Insight Events, targeted a mainly Danish-Scandinavian audience. The sessions were all in English and the venue was the beautiful Hotel D’Angleterre in the heart of Copenhagen. It was also a conscious choice to keep the audience small, just under 150 and of high calibre: almost all treasurers, most of them quite senior and well informed. The consequence of this choice is also that there were no parallel sessions, all sessions were attended by the entire audience. During the break one could meet the various treasury service and product providers, including treasuryXL partner Nomentia.

Last year, I was asked to present on “how to get hired for your next treasury position” and had some questions during other sessions. Based on the bond we built, I was asked to be moderator/chairman of this year’s event. I thought it was a great gig, if it was appreciated, you just have to ask others.


The programme consisted of presentations and panel discussions led by Nordea. I was impressed by the level of quality offered. There were two macro-economic presentations, one by the Chief Economist of Nordea, a well-known TV personality in Denmark and the other by a senior director of EKF, the Danish export credit agency. Both gentlemen brought very thorough interesting insights but, given the current global developments, also a gloomy and dark future.

Another highlight was the input on ESG financing where treasurers and senior sustainability experts together informed the audience about the reality of this type of funding making in, at least for me, an inspiring way. In a cleverly constructed format, credit rating and Basel IV developments were linked in a session with the most questions from the audience.

In other, more traditional but also essential and informative sessions, building treasury teams, mergers and career development were on the agenda. And the non-treasury topic was brought up in a very entertaining way about a hacked company that does not want to pay a ransom. Relevant not only for treasurers and definitely food for thought.

Looking back, I see a very successful and high quality event. On a personal note, I always enjoy the international in my work. Me as a Dutchman, extrovert, direct and sometimes unintentionally rude, communicating with civilised, reserved Scandinavians who do not ask too many questions hopefully did not result in not being invited for next year. We shall see…..

 

 

 

 

 

 

 

Thanks for reading!

Pieter de Kiewit

Cross border movements of Treasurers and what drives them

18-07-2022 | treasuryXL | Pieter de Kiewit | Treasurer Search | LinkedIn |

 

Over the last weeks I saw the topic of fiscal expat rulings popping up in various media. The labour market is tight and governments want to support employers in attracting the best talent. Also internationally. In The Netherlands we have the “30% ruling” that takes care expats are not taxed over the first 30% of their income. Among politicians there is a discussion about this because, do we want to attract the best? Or do we consider lowering taxes for those who are already earning a lot not appropriate….?

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What is the expected conclusion of crypto volatility for Corporate Treasury?

08-06-2022 | treasuryXL | LinkedIn |

A couple of weeks ago we launched a poll on our LinkedIn page about the impact of crypto volatility on corporate treasury. The poll received 72 votes in total, which is a great number! Thanks to everyone who joined the poll.

We thank François de Witte, Pieter de Kiewit and Carlo de Meijer for sharing their views with us.


What is the expected conclusion of crypto volatility for Corporate Treasury?

The votes which were given by Treasurers


View of treasuryXL experts

 

Francois De Witte

“There is a clear need for more regulation”

 

It is quite clear that cryptos present a high-risk profile. The volatility is high, and it is not easy to hedge these risks. In addition, payment transactions in cryptos take more time and energy than existing payments systems like the instant payments.

Currently, cryptos are held within the blockchain and are based upon a consensus. As a corporate, you do not have a control over these assets. In addition, you do not have the stringent KYC and AML checks which you have in the classic payment systems. The KYC and AML controls occur only on the moment that an individual or a company buys cryptocurrencies with its bank account or card, or when the proceeds of the sales of cryptocurrencies are paid to their bank account.

For this reason, there is a clear need for more regulation. Although the 5th AML Directive covers certain crypto assets under the term “virtual currencies”, it does not provide a harmonized approach. This problem will be addressed by the proposal of the EU Commission for the Regulation of Markets in Crypto Assets (abbreviated as MiCAR), which aims to create an EU framework for crypto assets falling outside the scope of other existing EU financial regulation and is expected to enter into force by end 2024. Let’s hope that this will bring more clarity in this complex topic.


Pieter de Kiewit

“Let’s see what will happen”

 

Rejecting crypto currencies or even blockchain before fully understanding the concept is like holding on tohorse and wagon when seeing the first cars. And current inflation following the QE strategy of the ECB shows that stability is not guaranteed in the traditional system. At the same time, treasurers are there to manage risk and the current crypto landscape seems very risky. So let’s see what will happen.


Carlo de Meijer

“Without well thought-out regulation, the inherent volatility of cryptocurrencies will continue to make stablecoins vulnerable to various risks”

 

Regulation of stablecoins has long been on the agenda of regulators worldwide. To date, however, the crypto sector in general and the stablecoin segment in particular remain largely unregulated.

Stablecoins continue to come under scrutiny from regulators, given the rapid growth of the $130 billion market and its potential to impact the broader financial system. As stablecoins are deemed increasingly important to the system by regulators, with the potential to disrupt payment and settlement transactions.

The recent collapse of stablecoin TerraUSD (UST) and the resulting fall of Bitcoin below the $28.000 level have provided an additional argument for speeding up the regulatory process and coming up with adequate regulatory measures.

 

With a growing number of traditional financial institutions, investors and also companies entering the Crypto and DeFi market, regulation becomes urgent to prevent such collapses in the future. Buyers need to understand the risks of these algorithmically stablecoins in particular. Therefore, standards are needed.

Without well thought-out regulation, the inherent volatility of cryptocurrencies in general but also of some types of stablecoins, will continue to make these stablecoins vulnerable to various risks, and make using these instruments for treasury purposes a difficult activity. The lack of transparency about what assets are being used and whether they have enough dollars to support all the digital coins in circulation also amplifies this consequence.

Recording Live Discussion Session | More reliable cash forecasting in a fraction of the time

01-06-2022 | treasuryXL | CashAnalytics | LinkedIn |

 

Recently, treasuryXL partnered with CashAnalytics on a LIVE discussion session about how much time, effort, and money can be saved by adopting a data-driven approach to cash forecasting.

During this session, Conor Deegan CEO of CashAnalytics was joined by Ron Wessels, owner of Term Finance and Interim Head of Tax & Treasury at Systal Technology Solutions, and Pieter de Kiewit, Owner of Treasurer Search. They have presented battle-tested methods for increasing the reliability of your data, breaking free from tedious forecasting processes, and freeing up more of your time for analysis.



Click on the image above to view the recording and learn how cash flow automation

 

Cuts your manual workload and reporting timelines by over 90%

Provides detailed insight into transaction-level data across all your entities

Frees you from Excel-based processes that are riddled with human errors


 

Looking back at the FinanzSymposium in Mannheim, Germany, organized by SLG | Pieter de Kiewit

25-05-2022 | treasuryXL | Pieter de KiewitLinkedIn |

 

We at treasuryXL consider it our task to inform you about all that’s interesting in Treasury. Last week Schwabe, Ley & Greiner organized their FinanzSymposium for the 33rd time. One of our partners, Pieter de Kiewit of Treasurer Search, volunteered to go and check it out. This is what he came back with.

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Why becoming a Register Treasurer is so much more than completing a course!

02-05-2022 | treasuryXL | Pieter de KiewitLinkedIn |

Next to being a treasury recruiter, I am also a very happy member of the so-called curatorium of the postgraduate education Treasury Management & Corporate Finance of the Vrije Universiteit Amsterdam. Graduates completed an intense 18-month program and can be recognized by the “RT” behind their name: Register Treasurer which can be translated into “chartered treasurer”. The program is taught in English, has already existed for over 20 years and there are many “RTs” in prominent places in the treasury community. Last week, I attended the latest diploma ceremony, was inspired, and decided I want to tell you more.

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Reminder Live Discussion Session | More reliable cash forecasting in a fraction of the time

27-04-2022 | treasuryXL | CashAnalytics | LinkedIn |

 

A friendly reminder that tomorrow at 3 PM CET (April 28th), we’ll be collaborating with CashAnalytics.

Date & time: April 28, 2021 at 3 pm CET/ 2 pm GMT | Duration 45 minutes



Join Pieter de Kiewit (Treasurer Search), Ron Wessels and Conor Deegan (CashAnalytics) who will talk about how cash flow automation can:

👉 Cut your manual workload and reporting timelines by over 90%

👉 Provide detailed insight into transaction-level data across all your entities

👉 Free you from Excel-based processes that are riddled with human errors Register now so you don’t miss out on this valuable discussion from industry leaders with over 65+ years of combined experience!

 

Click on the banner for registration.

Meet the speakers

Conor Deegan

CFO and Co-Founder
CashAnalytics

Pieter de Kiewit

Owner
Treasurer Search

Ron Wessels

Group Treasurer

Join Us to Learn How Cash Flow Automation…

  • Cuts your manual workload and reporting timelines by over 90%
  • Provides detailed insight into transaction-level data across all your entities
  • Frees you from Excel-based processes that are riddled with human errors

Live Discussion Session | More reliable cash forecasting in a fraction of the time

13-04-2022 | treasuryXL | CashAnalytics | LinkedIn |

 

TreasuryXL is partnering with CashAnalytics to discuss how much time, effort, and money you can save by adopting a data-driven approach to cash forecasting.

Date & time: April 28, 2021 at 3 pm CET/ 2 pm GMT | Duration 45 minutes



Join our expert panelists as they present battle-tested methods for increasing the reliability of your data, breaking free from tedious forecasting processes, and freeing up more of your time for analysis.

If your team spends more than a few hours each week creating forecasts, this is an event you won’t want to miss.

Click on the banner for registration.

Meet the speakers

Conor Deegan

CFO and Co-Founder
CashAnalytics

Pieter de Kiewit

Owner
Treasurer Search

Ron Wessels

Group Treasurer

Join Us to Learn How Cash Flow Automation…

  • Cuts your manual workload and reporting timelines by over 90%
  • Provides detailed insight into transaction-level data across all your entities
  • Frees you from Excel-based processes that are riddled with human errors

Career Calibration and the Treasurer Test

31-03-2022 | Pieter de Kiewit | Treasurer Test | LinkedIn |

On a regular basis, we write about your career planning in treasury, our opinions, and observations. Two articles on the website of Treasurer Search that are strongly related to this and very well viewed are:

Also, you might have noticed that we are big fans of the Treasurer Test, which helps treasurers in visualizing their skills and personality.


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Screening your new Treasurer aka “Trust is good, is control is better?”

26-01-2022 | treasuryXL | Pieter de Kiewit | LinkedIn | Google tells me the statement “Trust is good, control is better” is from Lenin. Perhaps this says something about the Russian culture at that time, about Lenin himself and our thoughts about the statement might also tell us about ourselves. I looked this up because of the extra screening […]