by Pierre Fersztand, Global Head of Cash Management, BNP Paribas
“In this new world order and disorder, it is important to distinguish between the trend and the trendy. The former has real, long-term implications that affect the fundamentals of the way that we live and work; the latter may be glamorous and rapidly-moving, but is less important to our society. Over the past few years, it has become increasingly difficult to distinguish between the two.”
- Dr Dominique Moïsi, co-founder and senior advisor to the Institut Français des Relations Internationales (IFRI), Pierre Keller Visiting Professor at Harvard University and visiting professor King’s College London, speaking at BNP Paribas’ 7th Cash Management University
In a fast-changing environment of geopolitical shifts, regulatory change, market volatility and technology innovation, it is often difficult to identify where treasury professionals should focus. Which are the initiatives that will help to create long-term value and which will have only a short-term impact? A regular treasury theme in recent years has been the growing importance of cash and liquidity management for multinational corporations. No longer is cash management considered simply an administrative activity, it is recognised as an essential treasury function on which the day-to-day existence, and long-term ability of the company to invest in growth, is founded.