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Agenda

November 25-26, 2025 | Tivoli Mofarrej São Paulo

9.00am

Brazilian treasurers face a converging storm of domestic reform and global volatility. At home, the long-awaited tax reform is reshaping cash flow planning, pricing strategies and compliance burdens—just as the Central Bank’s monetary stance raises questions about inflation control and the future cost of capital.

Globally, Donald Trump’s return to the White House has already shifted the trade and policy landscape. His administration has announced a 50% tariff on Brazilian imports, targeting everything from agribusiness to industrial goods. The move heightens the risk of a broader protectionist spiral, with potential knock-on effects for currency volatility, capital flows, and Brazil’s export competitiveness.

This session will explore how treasury teams can prepare for heightened volatility, from shock-proofing cash forecasts to rethinking counterparty risk, managing FX exposure under pressure, and navigating uncertain trade dynamics. What will it take to stay agile when the rules and the risks keep changing?

  • Nilton José Schneider David

    Deputy Governor for Monetary Policy Banco Central do Brasil

    X
9.40am

Striking the right balance: treasury centralisation v local opportunities

Corporate treasuries are increasingly centralising operations and banking relationships to drive transparency, efficiency, standardisation, and cost savings. However, this approach can come at the expense of local expertise, flexibility, and the ability to capitalise on local opportunities. This session will examine the delicate relationship between headquarters and local treasury teams, exploring how to maintain operational control while leveraging local market knowledge—particularly in complex and highly regulated environments like Latin America. Industry experts will share insights on effective treasury structures, navigating regulations, and strategies to achieve both global efficiency and local agility.

10.10am

Break

10.40am

AI in treasury: start delivering real impact

AI is transforming treasury—but success isn’t just about technology. While many treasury teams are experimenting with AI tools like ChatGPT and basic automation, few are unlocking its full potential to drive meaningful impact. In this session, we’ll cut through the noise and explore real-world strategies for implementing AI in treasury operations, focusing on FX automation, KYC streamlining, and data validation. We’ll discuss how AI-driven cash forecasting can slash processing time from days to minutes, reducing manual work while improving accuracy over extended periods. However, AI implementation isn’t just about efficiency—it’s about trust. Treasury teams must start small, build confidence with quick wins, and scale AI solutions that enhance, rather than disrupt, existing workflows. We’ll also demystify machine learning models, explain how they can classify transactions, predict late payments, and improve forecasting accuracy beyond human capabilities. Join us to discover practical steps to integrate AI into treasury, avoiding common pitfalls and ensuring your team embraces technology as a true business partner.

  • Damaris Sardenberg

    Director Finance Strategy Microsoft

    X
11.20am

Roundtable discussions

Choose a topic for an in depth peer exchange

  • Treasury structures for evolving business needs – Adapting treasury frameworks to support growth
  • The real time treasury – Challenges and opportunities
  • Argentina – Is your treasury ready for the challenge?
  • Banking on more – Are banks meeting your expectations and new business needs?
  • Treasury strategies in agribusiness
  • Women in treasury: Challenges and opportunities
12.30pm

Lunch

2.00pm

Optimising working capital: strategies for growth

With Brazil’s high interest rates, inflation, and global economic instability, businesses must rethink how they manage working capital to maintain liquidity and support growth. In this session, we will explore how companies can unlock the hidden potential of receivables to finance operations efficiently, leveraging new regulations that enhance security for factoring and supply chain finance. Through real-world case studies, we’ll showcase how businesses are removing supplier and customer finance from balance sheets to free up cash flow. We’ll also discuss the role of digital platforms in extending financing to the long tail of suppliers, improving collaboration between treasury, sales, procurement, and finance teams. Additionally, we’ll examine the impact of working capital and supply chain finance strategies on accounting reports and credit ratings, helping treasurers and CFOs make informed decisions in Brazil’s challenging economic landscape.

  • Ricardo Santarelli

    Treasury Director, Americas Avery Dennison

    X
  • Calil Gedeon

    CFO Monkey Tech

    X
2.40pm

To hedge or not to hedge, that is the question

As Brazil faces economic turbulence in the year 2025—with a depreciating real, soaring interest rates, and tightening fiscal policies—businesses operating in the country must grapple with the challenge of managing financial risks. However, hedging in Brazil is far from straightforward. The real is a non-convertible currency, limiting access to traditional FX instruments and increasing reliance on costly non-deliverable forwards (NDFs) or offshore hedging solutions. Additionally, strict regulatory controls on capital flows and derivatives complicate risk management. With high hedging costs driven by volatile spreads and interventionist policies, companies must carefully weigh the trade-off between financial protection and affordability. This session will explore whether hedging is a necessity or an unnecessary burden, offering practical insights into navigating Brazil’s currency risks, interest rate fluctuations, and regulatory landscape in an increasingly uncertain economic environment.

  • Lizianne Consentino

    Treasury Manager Volkswagen do Brasil

    X
  • André Giacometti

    Executive Treasury Manager Suzano

    X
3.20pm

Coffee break

3.50pm

Pix, Drex and the rise of stablecoins: what’s next for digital payments in Brazil?

As Brazil leads a digital finance revolution, treasurers face a rapidly evolving payments landscape. Pix continues to expand with features like Pix Automático, while Drex (the Central Bank’s digital currency) and the growing use of stablecoins are redefining liquidity, settlement, and cross-border transactions. This session explores how these innovations will reshape treasury operations, from automation and cash flow efficiency to compliance and interoperability. What opportunities and challenges lie ahead for corporates as Brazil moves toward a tokenized, real-time financial ecosystem?

  • Carlos Russo

    Director ABToken

    X
4.30pm

Managing liquidity in a high-interest, high-inflation environment

With interest rates expected to potentially exceed 15% and inflation surpassing the Central Bank’s target, treasurers must adopt strategic liquidity management to navigate a volatile financial landscape. Globally, persistent inflation in the US and Europe is keeping interest rates elevated, influencing capital flows and impacting the Brazilian economy through currency fluctuations and trade imbalances. In this session, we will explore the best strategies for corporate treasurers to preserve liquidity, mitigate risks, and optimise returns amid tightening financial conditions. We look at ways to diversify risk exposure, exploit high-yield opportunities, and prepare for potential monetary policy shifts that could impact corporate financial planning in 2025-26 and beyond.

  • Filipe Hatori

    Head of treasury B3 - Brasil, Bolsa, Balcão

    X
  • Gustavo Gontijo

    Diretor Financeiro GAC Brasil

    X
5.15pm

End of day 1

9.00am

Treasury digitalisation unlocked: tackling challenges and powering efficiency

Treasury teams are under increasing pressure to operate with real-time data and seamless integration, but fragmented legacy systems, ERP bolt-ons, and multiple bank connections often create inefficiencies and operational bottlenecks. In this session, we will explore automation strategies across ERPs, Treasury Management Systems (TMS), and bank connectivity, examining the role of APIs, AI, and other technologies in streamlining treasury operations. We will discuss best practices for assessing and consolidating treasury tech stacks, selecting the right automation tools, and defining key parameters for new solutions. Additionally, we will address how to evaluate ROI, secure internal buy-in, and manage cultural change as organizations transition to more efficient, integrated treasury functions. Join us to uncover strategies that will enhance automation, improve visibility, and drive operational excellence in your treasury department.

  • Ricardo Güther

    Senior treasury manager Arcos Dorados

    X
  • Ariel Machado

    Tesoureir iFood

    X
  • Carolina D’Avola

    Brazil, head of payments J.P. Morgan Payments

    X
  • Juliana Lima

    Americas treasury manager Solvay

    X
9.40am

Cash without borders: navigating treasury challenges in Latin America and beyond

Cross-border cash management in Latin America is anything but straightforward—it’s a high-stakes puzzle of currency swings, capital controls, high banking fees, and ever-changing regulations. This session will explore practical strategies for optimising liquidity, mitigating FX risks, and ensuring efficient fund movements across the region. Key topics include navigating non-convertible currencies, leveraging tax-efficient treasury structures, implementing regional cash pooling, and utilizing technology for real-time cash visibility. We will also discuss the role of regional treasury hubs, intercompany loan structures, and FinTech solutions in overcoming financial barriers. Additionally, we will examine the emerging role of real-time payment systems, their impact on cash management, and the potential for increased interconnectivity between countries. Join us to gain actionable insights on the best treasury models to streamline operations and manage cross-border cash in Latin America’s complex environment.

  • Andre Bertolin

    CFO Latin America Bosch

    X
  • Marcelo Charifker

    Treasury Cluster Lead Latin America ABB

    X
  • Eduardo Pera

    Treasury services latam head, lead products teams in Latin America J.P.Morgan

    X
10.20am

Coffee break

10.50am

Tax reform: managing the transition and maximising opportunities

Brazil’s historic tax reform, set to reshape the country’s complex fiscal landscape, presents both challenges and opportunities for corporate treasuries. As the transition unfolds between 2026 and 2033, businesses will need to navigate a dual system where the new CBS (federal VAT) and IBS (state VAT) will gradually replace existing taxes like PIS, COFINS, ICMS, and ISS. This coexistence period poses compliance and operational hurdles, particularly in cash flow management, tax calculation, and financial reporting. Additionally, changes to WHT and IOF impact international transactions and transfer pricing strategies, requiring treasury teams to reassess risk exposure. However, once fully implemented, the reform promises a more transparent, efficient, and business-friendly tax system, reducing compliance burdens and fostering a more competitive investment climate. Join us as we explore strategies for treasury professionals to adapt, optimize tax planning, and seize the long-term benefits of Brazil’s evolving tax framework.

  • Thiago Rouver Stanger

    Treasury Director Cielo

    X
  • Meily Franco

    Diretora Tributaria LATAM Alstom

    X
  • Mariana Carneiro Barreto

    VAT Tax Partner PwC

    X
11.30am

Optimise your funding in Brazil

In a market where traditional local financing tied to the CDI rate remains prohibitively expensive, how can companies structure their funding strategies to balance cost, liquidity, and growth? BNDES offers an attractive alternative, but accessing these funds requires navigating bureaucratic hurdles. Meanwhile, issuing in the capital markets—through local debentures or international bonds—is becoming an essential tool for corporations seeking more competitive rates. Additionally, intercompany loans from parent companies can provide flexible funding solutions; however, these arrangements must comply with Brazil’s transfer pricing regulations and foreign exchange controls to ensure tax efficiency and regulatory adherence. Factoring provides immediate cash flow relief but comes at a cost. This panel will explore the most effective financing solutions, comparing the risks and advantages of each approach, and providing insights into how corporations can optimise their capital structures in an evolving financial landscape.

  • Pedro Carvalho da Silva

    Head of Treasury Operations Grupo Carrefour Brasil

    X
  • Leandro Wendt

    CFO Agrícola Alvorada

    X
12.15pm

Lunch

2.00pm

Cybersecurity: staying ahead of emerging threats in a digital world

As corporate treasurers increasingly rely on digital platforms, AI-driven automation, and real-time payments, they become prime targets for cyber threats, AI-powered fraud, and sophisticated phishing attacks. The rapid evolution of deepfake technology, business email compromise (BEC), and ransomware poses significant risks to financial operations, data security, and liquidity management. Additionally, AI-driven fraud tactics can mimic executives, manipulate transactions, and bypass traditional security measures. This session will explore the newest cyber threats facing treasury teams, best practices to mitigate risks, and how organizations can leverage AI, biometrics, and advanced security protocols to detect, prevent, and respond to cyberattacks before they disrupt operations. Join us to learn how leading treasury teams are strengthening their cyber resilience while ensuring business continuity in an increasingly digital and high-risk landscape.

2.40pm

Leading, motivating and reskilling teams in the age of AI

As AI begins to reshape finance, treasury leaders face a dual challenge: mastering new technologies while guiding their teams through deep cultural and behavioural change. In Brazil, where talent competition is intense and digital transformation uneven, the question is no longer just how to hire and retain the right people — but how to prepare and inspire them for an AI-driven future. In this session, Andrea Iorio, author of Between You and AI and a leading voice on digitalisation and leadership, will explore how treasurers can foster adaptability, continuous learning, and psychological safety within their teams. What does leadership look like when machines can analyse faster than humans? How do you build trust, engagement, and creativity in a hybrid environment shaped by automation and uncertainty?

This discussion examines the next evolution of talent management, building teams that learn, evolve, and lead alongside technology.

  • Andrea Iorio (USA)

    Expert in leadership and digital transformation

    X
3.10pm

Coffee break

3.40pm

Roundtable discussions

Select a topic for an in-depth peer group discussion:

  •  Liquidity management in a turbulent world – Strategies to navigate market volatility and ensure financial resilience.
  • Doing business with China: implications for cash and treasury management – Exploring regulatory, FX, and operational challenges.
  • Managing cash in Latin America – Overcoming currency controls, inflation, and banking complexities.
  • Mastering financial risk: strategies for treasurers in an uncertain world – Discuss best practices, emerging threats, and innovative risk mitigation strategies tailored for today’s treasury challenges.
  • In-house bank – is this the right fit for you?
4.30pm

End of conference