by Jennifer Boussuge, Head of Global Transaction Services EMEA, Bank of America Merrill Lynch
Change is a fact of life for corporate treasurers – and the source of many opportunities. In today’s market, globalisation, regulatory developments and technological advances are combining to present treasurers with a particularly dynamic landscape. Rather than regarding this landscape with trepidation, forward thinking treasurers are asking how they can harness the latest developments to drive value across their businesses.
At almost every turn, corporate treasurers face new challenges. New regulations, the evolving face of global commerce, the rise of mobile technology and the shifting dynamics of bank relationships are having a significant impact on the role of the treasurer. While these changes inevitably present certain hurdles, they also bring treasurers a wealth of opportunities to increase standardisation and efficiency throughout their operations – and drive more value across the business as a whole.
This is an exciting time for treasurers operating in EMEA, and I hope you will find the topics discussed in this supplement informative and insightful.
Where global commerce is concerned, the mega trends of globalisation, urbanisation and mobilisation have important and far-reaching implications for businesses operating in EMEA. On the one hand, we have seen a number of major US companies looking to acquire European companies in order to relocate their headquarters in the region for tax reasons. On the other hand, geopolitical factors, in countries such as Turkey and Russia, have led to a greater sense of uncertainty, as has the recent introduction of a negative deposit rate by the European Central Bank. Companies are operating in more countries, while the ubiquity of internet and mobile services is making even countries with limited infrastructures more accessible than in the past.