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Cash & Liquidity Management
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A Pan-Regional Approach to Liquidity and Bank Connectivity

by Benoît Mulsant, Treasury Manager, PSA Peugeot Citroën

Our team is in charge of cash and treasury management for PSA Industrial and commercial companies as well as the one for Banque PSA Finance.

We work with a large number of banks across the group, currently more than 50, which makes it important to have an efficient structure to achieve transparency and control over cash. Consequently, we have a centralisation strategy to consolidate group cash on a daily basis across both commercial and financial entities. In Europe, we achieve this using a euro-denominated physical cash pool with Societe Generale, in which cash held in multiple accounts across all of our banks in Europe is zero-balanced into a header account.

A pragmatic approach

Having implemented our cash management solution in western Europe, an important area of focus during 2009 has been the integration of our Central & Eastern Europe (CEE) cash management activities with those in other parts of Europe.

We adapted our use of bank connectivity tools according to the level of sophistication required in each country.