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The leading event focused on strategic international treasury

All times are Eastern time.

Select a day and track from the options below to navigate the agenda:

Plenary

Despite the impetus of the pandemic, digital transformation is still in its infancy. This is true of business, banking and treasury. But necessity is a great motivator, and digital treasury is no longer optional.

Latin America continues to challenge treasurers with disparate regulations, compliance issues and operational challenges. This stream will help to cut through the risks and obstacles with practical case studies and updates.

8:00am -9:00am

Registration and networking breakfast

8:55am

Welcome address

9:00am -9:45am

The end of certainty

Uncertainty no longer does justice to the challenges facing business.The war in Ukraine has added new layers of unpredictability to the global economy, with sanctions, shortages and sharply increased geopolitical risk.That comes on top of the upheaval from the pandemic, which has made entire industries legal, illegal and then legal again. Governments have pumped vast sums of cash into the economy, raising questions about bubbles and fueling inflation. And global supply chains have been thrown into disarray.What is more, it’s not just the war and the pandemic. It’s an interlocking series of disruptors that make history a poor guide: the rise of an aggressive China; energy instability linked to political frictions from Asia, to Europe to the Middle East; digital transformations of various sorts, some benign and some less so, which in turn are causing revolutions in payments and digital currencies and leading to the rise of crypto. Add to all this climate change and societal demands for a greater focus on ESG, and business planning seems little more than a stab in the dark – never mind the monthly cash flow forecast. With so many trees, the wood can be hard to make out. So in this keynote, we will help you step back and look at the bigger picture: the next two years will be hand to mouth but what does the world look like in five years’ time? And how can you prepare now for that?

  • Daniel Franklin

    Executive editor, The Economist

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  • Dan Blumen

    US-based treasury consultant

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9:45am -10:30am

Treasury talent

Talent acquisition and retention is a global problem for many departments and treasury is no exception. Even before the pandemic, finding the right people was a struggle. Retaining them was also hard at a time of automation and digitalization. Today, the task is even more difficult. Remote evaluation and management of existing team members can feel unsatisfactory for both sides and even introduce risk. Remote hiring is an even more treacherous minefield. Away from these details, treasurers are also wrestling with the skill sets and mindsets required for the future of treasury. Will it be data scientists and coders with some treasury knowledge, or tax and accounting specialists with an interest in all things digital? This panel of treasurers from different industries will discuss.

  • Rebecca Hirschboeck

    Treasury director, The Kraft Heinz Company

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  • Amy Lainge

    VP, head of global liquidity & treasury operations, Warner Bros. Discovery

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  • Dan Blumen

    US-based treasury consultant

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10:30am -11:30am

Welcome networking

Connect at the welcome networking break. It’s been two years since we last met. To kick off the event, all attendees will enjoy speed networking to make a quick and informal introduction to our partners.

11:30am -12:15pm

Where are we with the banking and finance industry?

Digital revolution, new players, unlikely partnerships in the finance world and a data-driven world that is fast gaining ground: where does this leave the banking industry? Where are your banks investing in new technology? Who is leading the field in partnerships with fintechs and in adopting more agile technology and solutions? Are banks still key players in the payments ecosystem? What is the role of card companies in the future? We ask your banking partners to give an assessment of how they see the banking world unfold in the next five years and where they are focusing in order to maintain key client relationships. What do they see for the future of finance? What are their views on digital money? What will the regulatory world look like in finance in the future? What should treasurers be thinking about today to prepare for tomorrow?

  • Luis Pastor

    Santander CIB - Global Head of Global Cash Management Sales - Corporates

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  • Clara García Benedito

    Head of Global Solutions & Business Development for Commercial and Corporate Banking, BBVA

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  • Bruno Mellado

    Head of Payments and Collections – Cash Management Competence Centre BNP Paribas

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  • Simon Jones

    Independent treasury expert

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12:15pm -1:00pm

Prepping liquidity for difficult markets

By now, most firms have put in place the contingent funding and enhanced cash management and liquidity stress-testing arrangements necessary to survive the initial COVID storm and its immediate aftermath. But now, faced with a fragmented global approach to pandemic control, disrupted supply chains, soaring inflation and rising interest rates, the most difficult period may still lie ahead. There is still time to lock in funding at attractive rates but the longer-term threats to financial health lie in cash and working capital management. Lower margins will feed into lower profits and a greater need for working capital efficiencies. Treasurers must act now to prepare their businesses for volatility and headwinds. But where should they start? And what are the easiest and most effective strategies to put in place right now?

  • Joseph Bramuchi

    SVP & global treasurer, Marriott Vacations Worldwide

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  • Victor Pausin

    Treasurer - Americas, Nissan Motors Limited

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  • Simon Jones

    Independent treasury expert

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1:00pm -2:15pm

Lunch

2:15pm -3:45pm

Conference breaks into tracks

Delegates can choose between two different tracks. Please see the track tabs at the top of this page.

2:15pm -3:00pm

Navigating choppy waters

Latin America faces challenges in the post-pandemic transition, including headwinds from US Fed tightening and global uncertainties.

After a strong rebound in 2021, growth will slow in 2022-23, buffeted by the withdrawal of stimulus, rising inflation and higher local interest rates. The Russia-Ukraine conflict, US Fed tightening, China’s zero-covid policies and persistent global supply chain disruptions are producing policy complications for Latin American governments. While commodity exporting countries in the region will benefit from higher prices, spiking inflation is adding to the pain of consumers who were hit hard by the pandemic—and driving pressure for increased government support—at a time when governments are under market pressure to narrow fiscal deficits and get a grip on public debt ratios, which spiked amid the covid-19 pandemic.

An apparent lurch to the left in politics in the region belies broader disillusionment with incumbents more than anything else, but carries policy implications for businesses. The election of Gabriel Boric in Chile, on a platform of higher taxes and public spending and the abolition of private pensions and student debt, is a reminder that the region’s inequality can produce a backlash in even the most developed countries. Another left-winger, Gustavo Petro, is the frontrunner in Colombia’s election amid disillusionment with the record of successive right-wing governments, potentially taking the country away from its tradition of fairly open, market-oriented policies.

In Argentina, with inflation exceeding 55% and currency depreciation over 40%, tensions are higher still. In Brazil, the coming election clash between the authoritarian right and a returning left-winger will test the country’s institutions. Mexico is more politically stable, but despite prudent fiscal and monetary policies, AMLO’s business-wary policies are dampening growth.

Given this environment, what are the key risks and opportunities for multinationals operating in the region? What should they take into account when fashioning their strategies on tax, hedging, balance sheet structure and product pricing for the next 12 to 24 months? In this session we take you through some of the issues.

  • Robert Wood

    Principal economist, manager country risk, Latin America & the Caribbean, Economist Intelligence Unit

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  • Simon Jones

    Independent treasury expert

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2:15pm -3:00pm

A treasury reality check

In survey after survey, treasurers admit that their digital progress has been patchy, a hindrance to their longer-term goal of becoming a strategic business resource. The most commonly cited reason for this is the challenge of disparate, legacy technologies. At the same time, core priorities, such as cash forecasting, remain inefficient and inaccurate. And new challenges, including the cybersecurity of remote treasury staff, are jostling for attention and resources. So where has digitization and automation been easiest and most effective? Is the longer-term answer to legacy problems a move to Cloud-based SaaS TMS, ERP and other applications? And is it realistic to assume that we will get from today’s still fragmented treasury to the utopia of centralised, real-time dashboards, combining payments, cash management, cash flow forecasting and hedging tools any time soon? What is left once you strip away the hype.

  • Connie Miner

    VP, Assistant Treasurer, News Corp

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  • Dan Blumen

    US-based treasury consultant

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3:00pm -3:45pm

Treasury 2022 and beyond: priorities and challenges in Latin America

If treasury is to in the future be a real strategic advisor and solutions provider to the business, it needs to identify priorities and rising challenges on a timely basis as well as be adaptable as new issues arise. At the moment, one of the key objectives is to grow and diversify the business in a more sustainable way. To meet those challenges, developing finance solutions for direct and final customers through third party green finance is essential. Liquidity too remains a top priority, so net working capital optimization is a prime concern since it helps companies to allocate sources into new and diversified projects in an environment where inflation and uncertainty can jeopardize the success of these initiatives. Finally, the other top agenda item is in the field of automation where solutions for cash management will promote optimization across a wide variety of processes. Here Holcim explain their priorities and challenges for the coming years.

  • Ana María Paz

    Treasurer Colombia, Ecuador and ABS, Holcim

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3:00pm -3:45pm

Taking cyber seriously

Digital transformation does not stop with legitimate business. Fraudsters have welcomed digitalization and industrialised their techniques. Their most common target? Us. For all the technical complexity of some frauds and cyber-attacks, by far the commonest entry point to any company is its employees, from the top to the bottom. And treasury is both a target and early warning system. The smartest criminals understand that treasury can make instant, high-value payments and will pretend to be CEOs requiring confidential transfers or will hijack transactions by sitting in the middle and altering bank details, or can actually hack ERP and other systems directly. Treasurers can respond by tightening the access and controls around their core systems, especially those being used remotely. They can make sure they do not themselves fall for requests to make unusual payments. And they are best placed to spot unusual payment activity across the organisation. In this panel hear how your peers are dealing with the increased threat of fraud and cybercrime.

  • Craig Mondschein

    Senior director treasury, Tishman Speyer

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Moderated by
  • Johan Nystedt

    President, Nystedt Enterprise Solutions

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3:45pm -4:15pm

Networking break

4:15pm -5:00pm

Walking the FX tightrope

Given the economic and political situation, treasurers could be forgiven for assuming a one-way FX bet in the region: depreciation. However, central banks are already raising rates to counter inflation and capital flight, and weakening currencies. With an emergence from the worst of the pandemic, commodity prices are scoring driving corporate earnings for some in LATAM, it may create attractive asset valuations and foreign demand for those assets. We will review the key markets in the region. Political interference in monetary policy is another complicating factor. Do companies need to also think about political risk insurance? So how do treasurers assess their capital allocation and funding decisions in these countries? How do they decide the best strategy to manage FX & other risks in LATAM? In this session we will hear two different perspectives on how these treasurers navigate this for their business in Latin America.

  • Patrick Baumann

    VP treasurer, Tupperware Brands Corporation

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  • Fred Schacknies

    VP & treasurer, TechnipFMC

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  • Simon Jones

    Independent treasury expert

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4:15pm -5:00pm

Conference breaks into tracks

Delegates can choose between two different tracks. Please see the track tabs at the top of this page.

4:15pm -5:00pm

Digital treasury – a practical playbook

The general picture is clear: with modern digital systems, automated where possible, many of treasury’s traditional pain points can be solved; core processes can be made more efficient and effective, and additional strategic benefits will be unlocked. The real question is ‘how’? Where should treasurers start? With a function – like forecasting? Or with the fundamental data issues? Should firms focus on building a perfect data lake and then solve higher-level issues, or accept heterogenous data and use smart analytics to deliver whatever insights are possible? If new tech is needed and old tech must be retired, what is the least disruptive, most cost-effective way to do that? In this panel, three treasurers describe their progress, the obstacles they have overcome and the challenges still ahead.

  • Mike Giakoumatos

    VP of treasury, Perry Ellis International

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  • Mack Makode

    VP, Treasurer, Under Armour

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  • Dan Blumen

    US-based treasury consultant

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5:00pm -6:30pm

Networking reception

Plenary

Pandemic, digital disruption, political frictions – it’s never been more important for treasury to focus on the basics. Here too though, a combination of today’s extreme uncertainty and the opportunities afforded by new technology mean treasury must change the way it does things.

Despite the impetus of the pandemic, digital transformation is still in its infancy. This is true of business, banking and treasury. But necessity is a great motivator, and digital treasury is no longer optional.

8:00am -9:00am

Registration and networking breakfast

9:00am -9:45am

Political tensions and tightening regulation: what do we need to look out for in 2022?

Recent events in Europe presage a new era in terms of how states align and interact with one another, their companies – and their adversaries’ companies. Many of the assumptions underpinning business and investor worldviews have dissolved – conflict in Ukraine, supply chain disruptions and escalating tensions between the US and China are the pre-eminent examples challenging the received wisdom of economic co-dependence. Regulatory changes around data, tax, trade and ESG have the potential to directly and immediately change the value propositions of specific business models. Understanding political and geopolitical risks has therefore become paramount to business strategy, operations as well as individual deals. As corporate decision makers take a wider view of their potential exposure to political risk this session will explore 2022’s new complexities and how to manage them.

  • Dane Chamorro

    Partner, global risk & intelligence, Control Risks

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  • Dan Blumen

    US-based treasury consultant

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9:45am -10:30am

Debate: Should treasury be afraid of digital currencies?

Central banks representing around 90% of global GDP are researching, developing or piloting CBDCs. Among the most active are the central banks of the euro, dollar and renminbi. But what do treasurers need to know about these new instruments? First, they need to understand the many different design features CBDCs may incorporate, from fully tokenized to account-based variants. They also need, perhaps for the first time, to understand what money actually is and how it works at a fundamental level. Only then can they begin to understand the changes to many of their core processes and assumptions that will be necessary if these currencies come into being. The nature of commercial banking will change; corporations and individuals may all have accounts at the central bank; instant cross-border payments may be possible; sources of interest on cash may change. None of this will happen immediately – though China is on track to launch its digital trial at the end of 2022 – but treasurers must start to prepare. In this session, we debate the pros and cons.

  • Todd Yoder

    MD corporate finance & treasury, Fluor Corporation

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  • Robert Valdes-Rodriguez

    Global Head of Sales, Abra

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  • Dan Blumen

    US-based treasury consultant

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  • Simon Jones

    Independent treasury expert

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10:30am -10:55am

Networking break

11:00am -12:30pm

Conference breaks into tracks

Delegates can choose between two different tracks. Please see the track tabs at the top of this page.

11:00am -11:45am

Do you really want instant payments?

Customers love instant payments. They pay instantly and expect instant notification and action. They like the instant refunds. But for business and treasury there are plenty of downsides to instant payments. Instant, irrevocable payment means less time to check for fraud. So new control environments are necessary. For treasurers it means a switch from periodic batch processing of payments to settling every payment individually immediately. This is a stretch for TMS and ERP systems which cannot necessarily just create or accept real time payments. And of course instant payments deprive banks and corporate treasuries of the interest income available from money ‘resting’ in their accounts. On balance then, do treasurers and their businesses win or lose from adopting a real time approach to payments?

  • Javier Orejas

    Global head of banking & IATA Pay, IATA

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  • Javier Curbello

    Santander CIB Head of Global Cash Sales US

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  • Simon Jones

    Independent treasury expert

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11:00am -11:45am

Visibility = Technology plus Culture

It’s a cliché of course but it’s hard to manage what you can’t see. And most approaches to improving working capital focus on developing real-time, bottom-up visibility into cash flows, with an emphasis on the new technologies available to help treasurers achieve that. This is crucial, but there are other, non-technology-reliant, steps companies can take too. One is to ensure that a strong cash culture, supporting end-to-end cash management, is embedded across the whole organisation. Employees who have the knowledge, tools and incentives to make decisions with an eye on cash become partners with the finance function in boosting working capital. This treasurer explains how their focus on culture as well as data has done more for working capital management than technology alone could have achieved.

  • Fred Schacknies

    VP & treasurer, TechnipFMC

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  • Dan Blumen

    US-based treasury consultant

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11:45am -12:30pm

The power of co-creation

The days in which banks could impose one-size-fits-all solutions on their treasury clients are long gone, but co-creation in its most evolved form is still in its infancy. In this model of new service development, treasurers with specific problems develop solutions with their relationship transaction bank (and potentially that bank’s fintech partners too). If the solution can be generalized to solve the same problem for other clients, it is then rolled out to them. Co-creation is an iterative process that requires commitment from both treasury and bank to build solutions, and it is a mindset that understands how the process means that any treasurer can benefit from the input of any other: the bank acts as an aggregator of treasury pain points and their tailored solutions. In this session see how an innovative solution was developed and then made available to anyone who wanted it.

  • René Salazar

    Head of Partnerships LATAM, Stripe

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  • Enrique Flores Alonso

    Managing Director, Global Transaction Banking, BBVA Mexico

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  • Simon Jones

    Independent treasury expert

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11:45am -12:30pm

How end-to-end transformation of your P2P and O2C processes can bring real value and enhance working capital

During this session, you will learn more about how Jabil successfully built a global P2P process that connects and integrates key elements of their working capital value chain. The Jabil team were able to deliver significant improvements for their SSC in the areas of automation, integration, enhanced customer service and fraud prevention. We will also discuss the value that banks and Fintech partners can play throughout the process.

  • Joyce Carpenter

    Partner & Alliance Manager, Serrala

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  • Roberto Bayon

    Senior Director of Shared Services, Jabil

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  • Amy Goldstein

    Managing director, BNP Paribas

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12:30pm -2:00pm

Lunch

2:00pm -3:30pm

Conference breaks into tracks

Delegates can choose between two different tracks. Please see the track tabs at the top of this page.

2:00pm -2:45pm

Automating FX - theory versus practice

Automating treasury FX workflows improves both efficiency and effectiveness, at least that is the theory. In practice, the number of systems involved (ERP, TMS, FX risk management platform, FX trading platform) and the difficulty in getting timely data from across the enterprise present formidable obstacles to automation. This treasury team found a vendor that facilitated the rollout of a dedicated external FX risk-management platform where data aggregation, hedge calculations and trade execution could be carried out automatically. Hear how they did it.

  • Tim Husnik

    Senior Treasury Director, Medtronic

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  • Simon Jones

    Independent treasury expert

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2:00pm -2:45pm

How LAAD took the pain out of multi-currency, cross-border B2B payments processes

Miami-based Latin American Agribusiness Development Corporation (LAAD) supports small and medium-sized agribusinesses across the region through direct lending. How it serves clients who need disbursements in different local currencies and collects repayments in USD offers lessons for anyone doing business under the complexities that can arise in Latin America when it comes to sending payments, FX risk and more.

  • Ryan Frere

    GM and EVP of B2B, Flywire

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  • Oscar Luzuriaga

    GM and Regional VP of Latin American Agribusiness Development, LAAD

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  • Nick Arnell

    Head of Corporate eFX

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  • Dan Blumen

    US-based treasury consultant

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2:45pm -3:30pm

Instant payments and APIs: a game changer?

Given all the hype around payments currently, with fintechs firing off in all different directions, popping up here and there with instant solutions, crypto solutions, cross border solutions, you would be forgiven if you confessed that is difficult to make sense of this new world of payments and if you really need any of the tools on offer. Cost efficiency is a driver of change, and the starting point is to analyse the analytics and determine whether or not there is business value in adopting new instant payment solutions. Yet just because the internet is hot on payments doesn’t necessarily mean it’s the highest and most valuable thing your firm should be doing. From a treasury perspective, SWIFT has advantages in hosting big batch files and previous day bank statements, but if you want real-time treasury and real-time balances and same day reconciliation, that only works with AP’s. Pioneering treasuries are now adopting payment APIs and experimenting with their applications in transactions, whilst banking partners are still trying to figure out a cost structure and business model for instant payments. In this session, we listen to the case notes of treasury at the cutting edge of API technology.

  • Bruce Edlund

    Senior director, Assistant treasurer, Citrix Systems, Inc.

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  • Simon Jones

    Independent treasury expert

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3:30pm -4:00pm

Networking break

4:00pm -4:45pm

Risk management: the heart of treasury

Treasurers are no stranger to managing risk for the business; financial risks have long been at the heart of treasury. But the remit continues to expand as risk threats grow. In the past few decades, we have had financial crisis, a pandemic that introduced a host of new areas to account for including an uptick in fraud from WFH practices, supply chain disruption and liquidity issues, a war in Ukraine impacting economics around the world and a fast path to digitalization that introduced new threats to the business. How does treasury manage this complex ever-changing environment? In this panel of prominent treasury experts, we ask these companies to outline their risk management strategies, the areas within the treasury remit, the growing threats they believe their businesses face and we ask them to brainstorm about other disruptions on the horizon.

  • Ferdinand Jahnel

    VP, Treasurer, Marsh & McLennan Companies, Inc.

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  • Johan Nystedt

    President, Nystedt Enterprise Solutions

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  • Dan Blumen

    US-based treasury consultant

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Plenary

8:00am -9:00am

Registration and networking breakfast

9:00am -9:45am

This is what climate change looks like

The ‘E’ in ESG is rapidly becoming one of the most significant drivers of business and treasury practice. Regulators are demanding that firms demonstrate how they achieve net zero; they want data on how meeting climate rules will impact profits; and they are mandating a host of other environmental impact disclosures. At the same time, investors and other stakeholders are increasingly making decisions based on the environmental posture of the firms with which they have relationships. And the rise of ESG indices, however imperfect, is driving everything from portfolio construction to lending behaviours. Treasurers may also have to start reviewing relationships with banks and other suppliers who do not meet their own climate criteria. In this overview, hear just how far climate considerations will permeate business, financial, regulatory and treasury processes.

  • Joseph Lake

    Chief operating officer, The Climate Service, an S&P Global company

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  • Dan Blumen

    US-based treasury consultant

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9:45am -10:30am

Making a difference

It’s easy to talk about ESG, but what are treasurers actually doing to meet new regulations and expectations? In investing and cash management, how are firms selecting ESG-friendly products and are they having to sacrifice yield to do so? Are ESG-linked bonds and loans a realistic funding source and how easy is it to benefit from the booming social bond/loan sector? And how many treasurers are actively managing the sustainability of their supply chains via green SCF programmes? Beyond this, as social and governance concerns come to rival the environmental, what can treasury do to contribute to diversity, female empowerment and social wellbeing? Has anyone here considered a so-called ‘gender bond’ for example? In this session we discuss the practical steps that can be taken to drive the ESG agenda from and through treasury.

  • Andrea Vigo

    Senior global funding director, corporate treasury, Dow Chemical

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  • Dan Blumen

    US-based treasury consultant

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  • Simon Jones

    Independent treasury expert

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10:30am -11:00am

Networking break

11:00am -11:45am

Understanding digital currencies

Corporate treasurers are paying closer attention to crypto. More than 2,300 companies in the US accept Bitcoin and as cryptocurrencies are increasingly being used for corporate transactions, the argument for treasury managers to hold part of their reserves in the asset class becomes more compelling. But should companies hold crypto on their balance sheets or simply adopt crypto-enabled payments? How are banks treating digital assets? Is Bitcoin the only crypto Treasurers should look at –what about stablecoins like Tether? Are meme coins just a joke today or a viable payment mechanism tomorrow? Another development on the regulated side is central bank digital currencies. They are different from crypto but may be equally disruptive to traditional treasury activity. Attend this session for a primer on everything crypto and CBDC, the good the bad and the ugly.

  • Alisa DiCaprio

    Chief Economist, R3

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  • Simon Jones

    Independent treasury expert

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11:45am -12:30pm

New and next roundtables – the future for crypto in Treasury

It has been a rocky month for the crypto ecosystem with values dropping even before the seemingly failed project of TerraUSD had huge repercussions across Bitcoin, Ethereum and the whole market. Is this the first domino of the long-heralded “crypto winter” or is this the shot in the arm the market needs to welcome regulation and the arrival of reserve-backed stablecoins? Join your colleagues to discuss candidly the new environment for crypto in Treasury, and consider what’s next for the “future of money”.

12:30pm

Lunch