Community Spirit
Some of you may be reading this while at the ACT Annual Conference in Liverpool. For those who are, welcome to you all, and I hope the conference provides the usual mix of thought-provoking content and debate as well as the chance to network with your peers across the treasury community.
And it’s important to take a moment to appreciate the presence of so many of you in Liverpool. For the first time since 2019, the Association of Corporate Treasurers (ACT) is once again able to welcome delegates to its flagship conference. It’s remarkable how much has changed in that time: war, pandemic, rampant inflation. Thankfully, some things have stayed the same: the profession’s determination to remain focused on core principles and skills amid the disruption.
And that focus will need to continue for the coming months. As delegates to the recent ACT Cash Management Conference in March heard, we could be looking at a real income squeeze unlike anything seen since the 1940s. Businesses are facing risks to supply chains, increased pressure on funding as interest rates rise and a once-in-a-generation level of inflation that shows no sign of ending.
So, it’s timely that this issue includes our landmark Business of Treasury report for 2022. In the decade since we launched the report, it has grown into an indispensable snapshot into the minds of treasurers. It reveals what they are prioritising, where they feel the profession is heading and what challenges they are likely to encounter in their organisations.
As you will see, the recent upheavals in the global political and economic order are having an impact on how treasurers now see their roles – whether that’s focusing on recruiting and retaining an increasingly restless workforce or embedding environmental, social
and governance principles into all aspects of the organisation, the treasurer is on the front line of building resilience. Those themes are reflected elsewhere in this issue: from the progress being made in the Middle East to ensure trade finance markets adapt to
sustainability principles to Tom Gilliam’s remarkable achievement in creating a treasury function from scratch for one of the largest consumer healthcare companies in the world.
For those unable to attend the conference, we will update you on the discussions in our June newsletter. And for those walking the conference floor, welcome back.
Christian Doherty, Editor
thetreasurer@thinkpublishing.co.uk
Follow us on Twitter @thetreasurermag
SALLY PERCY
on the latest thinking on treasury team structure, size and design. Page 7
KALLUM PICKERING
on how the impacts of Russia’s invasion of Ukraine will be felt across the global economy. Page 20
MATT PACKER
looks at the UK government’s attempts to stimulate investment through eight new freeports. Page 39
