Treasury in Transition: Managing FX Risk Amid Structural Change

Published: October 20, 2025

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PwC Foreign Exchange (FX)FX Risk Management Hedging Risk Management Supply Chain Finance (SCF)

Over 3/4 respondents to PwC’s 2025 Global Treasury Survey cited FX risk as their most critical economic exposure. In this episode, Robin Page (TMI) speaks with Michiel Mannaerts (PwC) about what’s driving this focus, including geopolitical uncertainty, shifting supply chains, and currency volatility.

Our guest explores operational challenges in FX management, the trade-offs between centralised and decentralised exposures, AI and predictive analytics, practical hedging strategies, and how treasurers can build robust FX frameworks to strengthen resilience and improve decision-making to better manage cost and strategic flexibility.

Featured on this episode

Host

Robin Page

CEO, Treasury Management International (TMI)

Speaker

Michiel Mannaerts

Partner, Treasury and Commodity Management, PwC Switzerland

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