Cash & Liquidity Management
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TMS Transformation at STMicroelectronics

by Giuseppe Amodio, Head of Financial Risk Management, STMicroelectronics

The treasury activities of STMicroelectronics (ST) are centralised at its headquarters in Geneva, Switzerland under the responsibility of the Corporate Treasurer. Regional Treasury centres are located in Singapore (which covers the entire Asia Pacific and Greater China operations), France, Italy and United States.

As a result of its global activities, STMicroelectronics is exposed to financial risks, the most major of which are foreign exchange exposures and interest rate mismatches. ST’s revenues are mainly in USD (the primary currency in the semiconductor industry) with 40% of costs in EUR. Due to its industrial and marketing activities, ST also has some limited exposures to other currencies, especially SGD and CNY.