by Gunnar Berger, Head of Cash Management Solutions, Nordea
The concept, role and profile of treasury have evolved immeasurably over recent years, and many treasurers have transformed their profile from a relatively isolated function within the business to a leading role in devising and delivering on the company’s strategic plans. Centralisation of treasury activities has often been key to this transformation. Many large multinational corporations centralised core functions such as liquidity and risk management some years ago, and are now looking at new ways of adding value. Others, particularly smaller companies, have embarked on centralisation initiatives more recently.
A diversity of objectives
While the financial crisis has been a trigger for more recent centralisation projects, centralisation has been a trend for a number of years. Furthermore, the drivers and objectives of centralisation are often complex and multifaceted, as the participants in our Executive Panel in this Guide discuss.