Thinking Outside the Box – Building a Global Multi-Currency Liquidity Management Backbone

By Eleanor Hill, Editor

With over $150m flowing into Ingram Micro subsidiaries across the world on a daily basis, having centralised visibility and control over that cash – and being able to move it swiftly between different legal entities is a must. Here, Erik Smolders, the company’s Treasurer, and Bertie Sanders, Managing Director, Clients & Products USA, Bank Mendes Gans, explain how they set up a global notional cash pool that affords Ingram Micro the flexibility to move funds between entities without intercompany loans. They also outline the benefits of this overlay set-up, ranging from significant reduction of FX exposures and costs to working capital improvements – all without ruffling the feathers of existing banking partners.

Cast your mind back to 2007 – the year that Apple launched the first iPhone and Slovenia joined the Eurozone. It was also the year that Erik Smolders moved from Belgium to California to become Corporate Treasurer for Ingram Micro, having previously worked as the company’s European Treasurer. 

Download our Free Treasury App for mobile and tablet to read articles – no log in required.

Download Version Download Version