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Treasury Strategy & Transformation
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Finding Stability in an Unstable World

An Interview with Pierre Fersztand, Global Head of Cash Management, BNP Paribas

While 2007 and 2008 saw a tidal wave rush through the financial markets, 2009 is proving to be the year in which every industry is affected by turbulence and uncertainty. We continue our series of executive features with an interview with Pierre Fersztand, Global Head of Cash Management at BNP Paribas, who describes some of the ways that treasurers can create some stability in their company in an environment where uncertainty seems to permeate every part of the business.

In the current climate of uncertainty, what are the key considerations for corporate treasurers looking to manage their cash effectively?

Back to basics: Treasury Policy and Objectives

Over the past few months, during which time the financial crisis has extended from the banking market to all industries, we are seeing our clients adopt a “back to basics” approach, focused on managing the core financial risks and preserving liquidity. For most treasurers, market conditions have been so far removed from those anticipated in their treasury policies that they are finding themselves in uncharted territory. Consequently, it is a good time to review the treasury organisation and its scope, objectives and priorities and how these relate to the company’s overall business objectives.

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