Treasury in transition – explore the agenda for EuroFinance International Treasury Management

13-06-2022 | Eurofinance | treasuryXL | LinkedIn


Featuring keynote speakers, Guy Verhofstadt and Göran Carstedt…

The 31st annual EuroFinance International Treasury Management returns in-person this September 21st-23rd in Vienna. With treasury changing like never before, join more than 2000 attendees, including 150 world-class speakers for transformative insights and the year’s best networking.

  • Inspirational headline speakers– including member of European Parliament, Guy Verhofstadt and and one of the world’s top business minds, former head of IKEA, Göran Carstedt
  • Practical insights from case studies across 5 streams– explore the latest innovations driving change and how to apply them to your treasury
  • The new Future of Money Stage– a dynamic experience for disruptive ground-breaking ideas from crypto to the token economy
  • Meet with more than 100 banking and tech partnerson the exhibition floor and  join forces to innovate and shape the future

Learn from the experiences of more than 150 best-in-class treasurers including:
– Abraham Geldenhuys, VP and group treasurer, Kongsberg Automotive
– Yang Xu, SVP, corporate development and global treasurer, Kraft Heinz
– Alex Ashby, Head of treasury – Markets, Tesco
– Debbie Kaya, Senior director of treasury, Cisco Systems, Inc.
– Daniel Melski, VP finance and treasurer, Church & Dwight Co., Inc.
– Angel Cheung, Assistant treasurer, John Lewis Partnership

For more information and to register, visit:


TreasuryXL contacts can claim a 10% discount with code: MKTG/TXL10 on top of the early-bird price which expires on July 29th – a combined saving of over €2000.  Register here today.

We hope to welcome you in Vienna.

The EuroFinance Team

About EuroFinance

EuroFinance, part of The Economist Group, is a leading global provider of treasury, cash management and risk events, research and training. With over 30 years of experience, our mission is to bring together the brightest minds and most influential voices in treasury. Through in-depth research with 1,000 corporate treasury professionals every year, we have a unique insight into the trends and developments within the profession and an unrivalled global viewpoint.


Marianne Ford
Senior Marketing Manager

Economist Impact
[email protected]

Navigating emerging markets with a corporate treasury hat

09-06-2022 | Vasu Reddy | treasuryXL | LinkedIn |


Unlike many developed markets, like the US, which has 50 states, a single currency, single banking platform, one government, one central bank and monetary policy with no cash and currency restrictions, a developed global banking footprint and infrastructure Sub-Sharan Africa has the inverse, 25 countries, 25 different currencies and banking platforms, 25 different Central banks including monetary policies, 21 of which has strict Exchange control rules requiring prior approvals and document submissions for repatriation.

Article written by Vasu Reddy


What makes Corporate Treasury difficult in Africa

Doing business in Africa is an extremely long marathon and not for the faint-hearted. When your day-to-day activities are always faced with different risks and complexities, unforeseen and uncertain changes, and challenges in regulation and commercial environments with moving targets, one needs to be focused on the bigger picture about survival and growing the business and investment in the long term growth.

Overseeing a region spanning 25 countries with the Finance hubs being South Africa, Nigeria, Angola, Ghana, and Kenya and the latter being a Centre of Excellence for the rest of Sub-Saharan Africa, my main responsibilities included providing strategic and operational Treasury leadership with a focus on developing cash, liquidity and banking strategies, Developing and maintaining Banking relationships, Funding/capital and Debt structuring, Bank negotiation, Bank facility/documentation finalization, foreign exchange and Exposure management, Credit and Market Risk, Trade and Transaction solutions, Commercial/Project financing and Exchange Control and bank regulatory/compliance. Reporting into Corporate Treasury offshore with a dotted line into Africa CFO based in Kenya.

Apart from resilience and grit, one must operate adopting the “Lean” principles to ensure that the Leader navigates with focus, inclusiveness, integrity, transparency, and collaboration leveraging on operational excellence, world-class fit for purpose innovative solutions, technologies, and relationships leading the cross-functional diverse teams across multiple geographies and cultures across the different business verticals and functional areas operating in complex and challenging markets within a matrix organization that is impactful and exceeds business objectives.


Vasu joined GE from Chevron Oil Inc, South Africa where he was the Senior Treasury Manager, covering South & Central Africa for 7 years, and before that was at Land and Development Bank of SA before spending 6 years at Woolworths Holdings Ltd in various Treasury and Accounting roles. He is a highly experienced professional with 25 years’ Treasury, banking and Finance experience having worked in Multinational companies in Retail, Banking, Oil & Gas sectors, and diversified industries and capital.

Vasu’s academic background includes a Bachelor of Commerce (Accounting) degree, an Honours degree in Financial Management from the University of Cape Town, Postgraduate Diploma in Accounting from the University of KwaZulu Natal, South Africa. Vasu has completed the Leadership Executive Program (LEP) at the Graduate School of Business, Cape Town. Vasu has attended Advanced leadership courses at the GE Institute of Management, Crontonville, New York. Vasu is a member of the Association of Corporate Treasurers, South Africa, and a Certified Treasury professional with the Association of Financial Professionals, USA. He has been on various Treasury Community webinars and panel discussions/presentations at the Euro Finance, London.

The move into Treasury from Accounting seemed exciting with each day being different since it is more forward-looking and has external bank collaborations rather than the mere recording of past transactions. Although Treasury could be characterized as a more specialized function to some finance professionals, It entailed being pro-active, forward-looking,  engaging with banks and financial institutions, keeping abreast of market dynamics, and providing advice and information on critical business decision making on a real-time basis which would have major impacts on the future business profitability.


Surviving the Challenges

Africa is a tough market to operate in and will always be considered an “emerging market” due to the infrastructure challenges and political climate, however, it would seem lucrative due to its ever-growing population and need for products and services. Many large Corporates including South African listed Multinationals looked to Africa for Growth expansion wanting to grow their businesses and increase shareholder value, to only experience huge challenges ranging from Supply-chain disruptions and delays, slow business responses, High costs of doing business, poor credit rating customers and banks, strict and changing regulation, lack of Foreign currency for repatriation resulting in huge trapped cash, delays with Central bank approvals, poor technology, and manual intervention, lack of global banking presence, lack of customer deal financing, political risks, highly cyclical commodity-driven markets that lack diversification for currency flow and with lots of red tape with no focus on developing policies to encourage and welcome foreign investment.

“A Treasurer needs to always be proactive, thinking consistently “out of the box”, and consistently exploring innovative ways to pivot”

As a Treasurer/CFO, one should understand that these challenges will not disappear any time soon. One needs to always be proactive, thinking consistently “out of the box”, and consistently exploring innovative ways to pivot. When global corporations execute deals in Africa, end-to-end due diligence needs to be performed not just on pure profitability and return on investment but considering the holistic cash repatriation risks and costs including detailed country analysis involved per deal. This is due to the common shortage of foreign currency liquidity that is required to repatriate cash for imports, inter-co loans settlements, dividends, etc. In most markets, the flow of currency and exchange rate is controlled by the Central Bank. In 2015, with the oil price crash, and in 2020 with the Covid 19 pandemic, the trapped cash balances increased due to the US Dollar currency shortage because of poor foreign flows. Corporates needed to work proactively with their multiple banking partners to source foreign currency liquidity, where in some cases we had to ringfence our export proceeds with the banking partner and place orders strategically in the foreign currency queue to secure foreign currency which was used to settle the outgoing foreign currency payments in countries like Nigeria and Angola. Other alternatives involved banking multiple partners who bank the large exporters that have access to foreign currency liquidity in countries such as Mozambique and Ethiopia, however considering that proper credit risk analysis was performed on these banks. Other alternatives in 2015 involved working with Export Finance Agencies to provide a guarantee to the local Government through refinancing of exports from the UK to Angola where this foreign currency liquidity via an inward loan to the Government would be used for repatriation and the Debt with the local government will be sold Offshore with the proceeds being received offshore. Due to its complexity, the local government was not open to execution

Partnership and Playing by Rules

Since reputation risk and compliance is more apparent now than ever with Multinationals, it is paramount to ensure that the rules are strictly adhered to by the regulatory authorities since the operations in Africa were always seen as a long-term investment to grow the current businesses, considering that Africa presented incredulous growth opportunities for the foreseeable future. Regular meetings with Central Banks were held by Treasury and with Governments by Senior leadership to forge a collaborative partnership with a focus on investments in localization through manufacturing and assembling sites, job creation, and help in building infrastructure.


Another critical Treasury partnership is the global, regional, and local banks. Large Multinationals have a preferred bank partner list based on their global relationships, balance sheet size, market presence, and risk and credit rating. The challenge is that not all the Global banks have a presence in all African countries, In Ethiopia, the local market is closed to foreign banks. The preferred option was the order to an initial bank with a Global bank, then a regional bank, and lastly a local bank or if required by a localization law. An example in mind is Ghana, where you were required to have an account with an indigenous bank if you wanted to bid for local business.  The advantages of partnering with the Global banks offered multiple layers of contact points for escalation and efficiency, prompt service responses, interest optimization options and economies of scale benefits, universal language on trade finance, guarantees and facilities including bank mandates, negotiable price to book fees, straight to bank processing, access to US Dollar flows, etc.


Technology and Digitization    

Digitization and automation are pivotal for the future of Treasury and especially in Africa as this will ensure simplification, efficiency and effectiveness, cost reduction, faster response, and a more controlled and structured banking environment with fewer errors and risk of fraud. This should be coupled with AI to centralize processes as much as possible. Africa’s banking processes and platforms have room for development on technology advancements and the Covid’19 pandemic has forced most countries to rethink investing in technology and upscaling.


Ears close to the ground

Due to the diverse and extremely challenging banking operations, one requires strong technical competence, effective communication skills, consistently researching innovative ideas, and close relationships. One will find it challenging to manage the African operations with an “Arm-Chair” Treasurer sitting offshore. You would need to be close to the business operations, and functional teams like tax, legal, and banking teams on the ground. Whether one is researching a structured inter-co loan via a cross-currency swap, local hedge solution mitigating Zimbabwe hyperinflation, securing foreign currency in Mozambique, buying/selling Angolan Government bonds to maximize yield, obtaining Central bank approval on cash pooling arrangements in South Africa, or dividends repatriation or understanding the different Dollar rates offered in the Nigerian controlled market, one needs to have consistent and regular discussions with the banking partners and stay abreast of changes in each local market. One needs to also keep the local and global business leaders in the loop of changes and progress to manage expectations as some folks believe that if it can be done in New York, surely it can be executed in Africa as well.


Vasu Reddy

Corporate Treasury, Finance Executive

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.

Read more

Subscribe and receive your 41 pages ‘easy-to-read’ eBook, What is Treasury?

16-05-2022 | treasuryXL | LinkedIn |


Treasury, Corporate Finance, Cash Management, Risk Management, Working Capital Management and Blockchain. What are the purposes of these treasury functions?

treasuryXL created this eBook based on the most relevant best practices that Treasury experts provided over the last years. We bundled the most important information for you and created easy to read and understand articles about the main subjects within the World of Treasury.

We took a deeper dive into each of the above-mentioned treasury functions and highlight:

  • The purpose of each named Treasury function (What is?)
  • What specialists do
  • Examples of Activities
  • Summary of Frequently Asked Questions and answers
  • Conclusion

How to receive this eBook for Free?

We simply giveaway two presents for you! By signing up for our newsletter you will automatically receive the following in your inbox:

  1. On Fridays, our Coffee Break weekly newsletter will land in your inbox. In this weekly newsletter, we will highlight the whole week full of the latest treasury news within our community.
  2. The 41 pages eBook, What is Treasury?


Subscribe, Join, Download and Relax.

Welcome to our community and have fun reading!



Director, Community & Partners at treasuryXL





The world’s largest treasury event is returning to Vienna in September | 10% discount via treasuryXL

09-05-2022 | Eurofinance | treasuryXL |


EuroFinance International Treasury Management, the world’s largest and most influential treasury event, will take place in Vienna from September 21st-23rd 2022. Returning in-person after 3 years with more than 2000 attendees including 150 world-class speakers, the event offers unparalleled networking and insights from the world’s most senior corporate treasurers. treasuryXL is proud media partner of the 31st edition of the EuroFinance event.

Why attend?

  • Be inspired by headline speakers as they interrogate a changed world including Guy Verhofstadt, member of the European Parliament and Göran Carstedt, former corporate executive of Volvo and IKEA
  • Get practical solutions to treasury challenges with new case studies and immersive discovery labs
  • Hear from the disruptors at the new The Future of Money Stage
  • Delve into the latest innovations and new technology driving change, and how to apply them to your treasury
  • Meet with more than 100 banking and tech partners and join forces to innovate and shape the future


For the full agenda and to register, please click here

TreasuryXL contacts can claim a 10% discount with code: MKTG/TXL10


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.

Read more

Attend the 33rd Finance Symposium | 18-20 May 2022 | Mannheim

20-04-2022 | treasuryXL | LinkedIn |


The treasury and finance community finally meets in person again. treasuryXL is proud media partner of the 33rd Finance Symposium.



For more than 30 years, the Finance Symposium has developed into the most important industry gathering for treasurers and finance managers in the German-speaking world. Every year, around 2,300 finance experts meet to discuss together, make contacts and receive new impetus. The outstanding congress program offers visitors a broad spectrum of professionally challenging topics from finance and treasury management in three days. In over 170 forums, workshops and expert panels, participants will learn about the latest developments in finance and treasury.



The speakers are high-ranking finance managers from major companies and prominent guests from politics and business. For example, in 2022 Martin Schulz, former President of the European Parliament , and Verena Pausder, entrepreneur and expert in digital education, could be won for exciting presentations and discussions. The most important banks, system providers and financial service providers in the industry will present themselves on 1,000 m2 of exhibition space.

For more information and tickets, visit:




Director, Community & Partners at treasuryXL





Your free eBook, What is Treasury?

13-04-2022 | treasuryXL | LinkedIn |


Receive your eBook What is Treasury? after subscribing to the free treasuryXL weekly newsletter.

The world of Treasury is a complex topic. Many people will think about pirates and big see ships that sank deep into the bottom of the ocean including their ‘treasure’. A mystery treasure map will lead the finder to a treasure worth a lot of money. In some way Treasury and Treasure have similarities, it is about money and other valuables.

Are you having a hard time how to explain what treasury is to family, friends and colleagues? Or are you interested to learn more about the World of Treasury?


treasuryXL created a 41 pages eBook for the corporate treasurers and the world of finance addict.

This eBook is designed to answer layman questions about the function of Treasury. treasuryXL bundled the most important information for you and created an easy to read and understand articles about the main subjects within the World of Treasury:

This ebook will answer your questions about Treasury topics.

treasuryXL explains the purpose of each Treasury function; what specialists do, examples of activities, FAQs, and a summary.

This ebook is based on the most relevant best practices that Treasury experts provided over the last years. On the website of treasuryXL you can explore additional information on the latest in Corporate Treasury.





Director, Community & Partners at treasuryXL





EuroFinance International Treasury Management returns to Vienna | 21-23 September 2022

08-04-2022 | Eurofinance | treasuryXL |


Featuring keynote speakers, Guy Verhofstadt and Göran Carstedt…

The 31st annual EuroFinance International Treasury Management 2022 will return this September with more than 2,000 attendees, 150 speakers, 100 sponsors and exhibitors.



For the first in-person event in three years, EuroFinance International Treasury Management keynote speakers will include Guy Verhofstadt, member of the European Parliament and Göran Carstedt, former corporate executive of Volvo and IKEA.

The full line-up brings more than 150 global corporate treasury leaders, financial institutions, technology providers and thought-leaders together to discuss the theme “Treasury in transition”, across 12 stages at Vienna’s Messe Wien Exhibition Congress Center from September 21st-23rd 2022.

Guy Verhofstadt is a Member of the European Parliament and co-chair of the Conference on the Future of Europe. He served as prime minister of Belgium from 1999 until 2008 and also made a name for himself as Brexit coordinator and as a passionate champion of more European integration. He will give the opening keynote on day 1.

Dr Göran Carstedt is the former head of IKEA North America and IKEA Retail Europe and former head of VOLVO France and Volvo Sweden. Having run some of the world’s leading companies, Dr Carstedt is also the former senior director of President Clinton’s Climate Change Initiative. He will give the opening keynote presentation on day 2 on how climate change is changing business.

Corporate treasury leaders from some of the world’s top multinationals – including TechnipFMC, Citrix Systems, Kongsberg Automotive, Autoneum, Equinor, Heinz, Medtronic, John Lewis – have also been confirmed.


“We look forward to seeing people connecting and collaborating face-to-face once again in Vienna. It’s great to see live events bouncing back across the world and from the response we have had so far,  it’s clear that our community of speakers, banks and technology providers are eager to meet in-person after 2 years of virtual meetings.” says Asif Chaudhury, Managing Director of EuroFinance.


Irreversibly changed after the events of the past few years, this year’s theme will explore the “new” treasury; a highly digital and automated function tasked with meeting strategic goals and changing remits against a backdrop of multiple issues from climate change to high inflation. Treasurers will share their experience in practical case studies and technical discovery labs and celebrate the innovations that will drive change.

EuroFinance’s growing list of sponsors and exhibitors for the event includes  J.P. Morgan Chase, Standard Chartered, Citi, Bank of America, BNP Paribas,, Fitch Group, HSBC, Santander Corporate & Investment Banking, Visa, Société Générale, ION, TIS, Remote Technology, B2C2, American Express, Bayerische Landesbank, UniCredit, PrimeRevenue, Northern Trust Asset Management, Credit Agricole, Zanders, ICD, Pictet Asset Management, Raiffeisen Bank, BlackRock, Legal and General, Tietoevry, Amundi, CMSpi, Nomentia, Aviva Investors Global Services, CashAnalytics, Treasury Systems, CoCoNet, Exalog, Traxpay, SisID, Finastra.

For more information and to register, visit:

About EuroFinance

EuroFinance, part of The Economist Group, is a leading global provider of treasury, cash management and risk events, research and training. With over 30 years of experience, our mission is to bring together the brightest minds and most influential voices in treasury. Through in-depth research with 1,000 corporate treasury professionals every year, we have a unique insight into the trends and developments within the profession and an unrivalled global viewpoint.


Marianne Ford
Senior Marketing Manager

Economist Impact
[email protected]



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.

Read more