Treasury Today Country Profiles in association with Citi

Winners

Adam Smith Awards 2017 – 10 years of outstanding achievement

2017 Overall Winners and Highly Commended Winners

We received an impressive 211 nominations from no fewer than 30 different countries. All Overall Winners and Highly Commended Winners were presented with their awards at the prestigious Adam Smith Awards Gala Presentation Lunch at Plaisterers’ Hall in London on Thursday 22nd June.
Scroll down to see all the winners

Adam Smith Awards 2017 winner group photo

Overall Winners

Treasury Today’s Top Treasury Team 2017, Winner – Peter Jameson, Bank of America Merrill Lynch, John Murray, Citi, Mustally Hussain and Chet Stefanski, Herc Rentals Inc. and Phil Lamariana, J.P. Morgan

Treasury Today’s Top Treasury Team 2017

Winner: Mustally Hussain, Herc Rentals Inc.

Our Top Treasury Team 2017 accolade goes to Herc Rentals who have truly established a classleading treasury department, within a very short period of time. The speed at which this particular department mobilised itself and tackled a host of challenges after a transformational spin event in September 2016 is remarkable.

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Highly Commended:

Open Text Corporation

Woman of the Year 2017, Winner – Photo of Janet M Gibbons, PepsiCo.

Woman of the Year 2017

Winner: Janet M Gibbons, PepsiCo

This year’s Treasury Today Woman of the Year is Janet M Gibbons, Senior Director, International Treasury – Asia, Middle East and North America at PepsiCo. With a standout CV and a career in treasury spanning over 25 years, Janet is at the very top of the treasury profession.

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Highly Commended:

Christy Barwick

Judges’ Choice, Winner – Photo of Jayna Bundy and José Luis Martí, Microsoft.

Judges’ Choice

Winner: Lucas A. Meyer, Microsoft

This entry was submitted in our ‘One to Watch’ category and our judges decided it is our Judges’ Choice this year. This solution uses a ‘chatbot’ so Microsoft’s Worldwide Credit Services team now allows sales and operations users to automatically check the credit status of a customer’s account before placing orders, and to track status of orders until they are collected.

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Best Cash Management Solution, Winner – Photo of Lynda Johnson, Tricia Norberg and Rachel Zdyrko, Harley-Davidson, Inc. and Steve Hall, J.P. Morgan.

Best Cash Management Solution

Winner: Global Team, Harley-Davidson, Inc.

The decision to change transaction banking partners presented Harley-Davidson with an unprecedented opportunity to address all of the associated challenges and boldly put in place a best in class treasury function. While short-term benefits will be largely seen in APAC, the framework is fully scalable providing a template for Harley-Davidson to extend into EMEA and the Americas when the timing is right. This incredibly complex and geographically ambitious operation was completed within a very short timeframe.

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Highly Commended:

Casa Cuervo,
British American Tobacco

Best Liquidity Management Solution, Winner – Photo of Sadachika Yoshioka, J.P. Morgan and Brenton Green, Mark Baker and Hirotoshi Yoshida, NTT DATA EMEA Ltd.

Best Liquidity Management Solution

Winner: Mark Baker, Hirotoshi Yoshida and Brenton Green, NTT DATA EMEA Ltd

J.P. Morgan provided a global, scalable liquidity infrastructure needed to help NTT DATA EMEA concentrate its cash and facilitate FX, investment and internal financing efficiently. It also offered cutting-edge back-end technology to automate new processes. An important component of the solution is the bank’s multi-currency notional pooling structure. NTT DATA EMEA was able to reduce high interest bearing debt by 47% through this solution.

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Highly Commended:

Toyota Motor Europe NV/SA,
Leggett & Platt Incorporated

Best Short-Term Investing Solution, Winner – Photo of Camilla McKane, J.P. Morgan Asset Management and Alex Fiott, AstraZeneca.

Best Short-Term Investing Solution

Winner: Alex Fiott, AstraZeneca

This solution was driven by a review of the company’s investment policy based on three key factors: first, the rapidly changing regulatory environment for banks; second, the higher liquidity premium under Basel III; and third, the prospect of upcoming reform in the European MMF sector.

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Highly Commended:

InterContinental Hotels Group

Best Working Capital Management Solution, Winner – Photo of Roger Fleischmann, J.P. Morgan, Beth Blumenfeld, Arijit Dasgupta and Sylvia Malone, Pfizer, Steven Elms, Citi, Chris Jameson, Bank of America Merrill Lynch, Simon Knightbridge, Pfizer and Steve Payne, EY.

Best Working Capital Management Solution

Winner: Working Capital Team, Pfizer Inc.

This is all about improvements to Pfizer’s cash conversion cycle and cash flow generation. Last year alone, Pfizer generated approximately US$1.5bn of incremental cash flow, largely due to the efforts from each of the five work streams it established.

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Highly Commended:

Walmart

Best AR Solution, Winner – Photo of Simon Jones, J.P. Morgan, David Baxter, ACI Worldwide, Rick Noble, Jeff Hammer and Nate Sass, Anthem, Inc. and Chris Jameson, Bank of America Merrill Lynch.

Best AR Solution

Winner: Rick Noble and Jeff Hammer, Anthem, Inc.

Anthem, Inc. is one of the US leading health benefits companies with over US$84bn in annual revenue. Implementing a payment redesign that affects multiple source systems, departments, vendors and its affiliated health plan members is a massive undertaking. This is a major AR solution which addresses the individual consumer experience and consumer payment preferences.

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Highly Commended:

adidas

Best AP Solution, Winner – Photo of Jan Willem van Helden, Heerema Marine Contractors Nederland and Richard Arts, Hanse Orga.

Best AP Solution

Winner: Jan Willem van Helden,
Heerema Marine Contractors Nederland SE

This solution allows for payments to be made on behalf of (POBO) each of the operating companies, and settled internally using the in-house bank module. Heerema initially anticipated high costs for the implementation, but found that the costs were more reasonable than expected and that the return on investment was high thanks to the optimal levels of efficiency that were achieved with this solution provided by Hanse Orga and SAP.

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First Class Relationship Management, Winner – Photo of Barbara Harrison, Citi, Darsh Johal, Roland Peppink and Stuart Madell, Shell Treasury Centre Ltd.

First Class Relationship Management

Winner: Darsh Johal, Stuart Madell and Roland Peppink, Shell Treasury Centre Ltd

This is a classic lesson in relationships driven by Shell’s incumbent bank at the time (RBS) announcing it would wind down its international cash management business. Shell fast-tracked a RFP, selected Citi and mobilised resources to migrate its cash management arrangements – projects of this scale would normally take up to three years to complete. Due to the relationship, this was all achieved in 18 months and many aspects of this project are now part of Citi’s best practice template for client implementations.

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Highly Commended:

Amaris, Honeywell

Best Trade/Supply Chain Finance Solution, Winner – Photo of Peter Jameson, Bank of America Merrill Lynch, Henry Byrne and Jayna Bundy, Microsoft.

Best Trade/Supply Chain Finance Solution

Winner: Jayna Bundy, Henry Byrne, Pankaj Gudimella,
Guru Kirthigavasan and Maritta Kallio, Microsoft

We have heard much talk of late about blockchain and distributed ledger technology and here is a company which has conducted a successful proof of concept (POC) for standby letter of credit (SBLC) issuance and advising.

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Highly Commended:

Kuehne + Nagel,
Etihad Aviation Group

Best Card Solution, Winner – Photo of David Reidy, Basware, Anna Bianchi, Celgene and Ritesh Jain, Citi.

Best Card Solution

Winner: Anna Bianchi, Celgene

This company operates in 34 countries worldwide. This is more than just a card solution; Citi and Basware developed a state-of-the-art solution that leverages e-invoicing and credit card networks to create an ecosystem that allows suppliers to be paid early, but does away with all issues encountered with a traditional physical card.

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Highly Commended:

Biogen, DuPont Sourcing & Logistics

Best Funding Solution, Winner – Photo of Sabry Salman, Barclays, Michiel Radder, BNP Paribas, Simon Jones, J.P. Morgan and Joshua Park, Hyundai Capital America.

Best Funding Solution

Winner: Frank Boroch, Hyundai Capital America

This is a very interesting account of how Hyundai successfully executed a global US dollar issuance strategy, expanding well beyond their traditional US format – the US investment grade market standard – by beginning the transaction overnight in Asia and then following the sun from Europe to the US. A very innovative approach to funding.

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Highly Commended:

VCNA, Etihad Aviation Group

Best Foreign Exchange Solution, Winner – Photo of Helen Mason, ANZ, Stephen Lockley, Leon Tompkins, World Vision International and Daniel Hanna, Standard Chartered.

Best Foreign Exchange Solution

Winner: Ashwin Ramji and Leon Tompkins,
World Vision International

This active foreign exchange risk management programme demonstrates the direct benefits of extracting value from global currency trading on the world’s most impoverished populations.

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Highly Commended:

Clearsettle, Diageo

Best Risk Management Solution, Winner – Photo of Alexander Visser, Thomas Frijns, Philips and Laurens Tijdhof, Zanders.

Best Risk Management Solution

Winner: Thomas Frijns, Philips

Philips identified a significant exposure to raw material price risk which was resulting in high levels of EBITA volatility. A state of the art tool has been developed in order to give Philips full transparency and visibility on their commodity market price risk. Raw material prices can’t be predicted, but knowing your exposures and being able to react appropriately gives Philips a real competitive edge.

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Highly Commended:

Etihad Aviation Group

Best Cash Flow Forecasting Solution, Winner – Photo of José Luis Martí, Microsoft.

Best Cash Flow Forecasting Solution

Winner: Edda Kuhlmann, Microsoft

To efficiently manage Microsoft’s global cash, the monthly cash flows of 320+ subsidiaries in 115 countries have to be determined therefore Microsoft has developed a cloud based solution that allows users to submit forecasts to a central web interface with some impressive benefits.

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Highly Commended:

Microsoft

Harnessing the Power of Technology, Winner – Photo of Trish Smith, Kelli-Ann Sweeney, Edel Brennan, Miriam Brosnan and Elaine Ward-Bopp, Goshawk Aviation Limited and David Nugent, Citi.

Harnessing the Power of Technology

Winner: Trish Smith, Goshawk Aviation Limited

The complexity of each of their financings, the volume of payments and a corporate structure with a significant number of asset-owning companies with varying bank account requirements, meant that a tailored, customer-focused, and nimble approach was needed from all of their system vendors, but in particular, their banking partner and treasury management system (TMS). For a small team like Goshawk to achieve this solution in such little time, while competing at the highest level in the industry, is something truly exceptional. Citi, IT2, Leasepoint and SunSystems were partners in this journey.

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Highly Commended:

UPS, National Grid, Fresenius

One to Watch, Winner – Photo of Neil Doyle and José Luis Martí, Microsoft.

One to Watch

Winner: Neil Doyle, Microsoft

The practice of assigning credit limits to customers is not new or unique, however, to implement such a solution in a short period of time (18 months) and to transition c.13,000 customers from an indirect search model via a revenue share agreement with Yahoo to become direct advertisers spending on the Bing Ads platform was an incredible accomplishment.

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Highly Commended:

Ornua Co-operative Ltd, Panini S.p.A

Best in Class Treasury Solution in the Middle East, Winner – Photo of Roger Fleischmann, J.P. Morgan, Adam Boukadida, Etihad Aviation Group and Michael Guralnick, Citi.

Best in Class Treasury Solution in the Middle East

Winner: Adam Boukadida, Etihad Aviation Group

Financing activities for 2016 were driven by increased funding requirements and the Etihad Aviation Group Treasury was responsible for raising funding of approximately US$6.9bn required for major capex and infrastructure developments, investment activities as well as managing the business’ liquidity requirements for the financial year. This number included the acquisition of ten new aircraft, bridge financing requirements and the refinancing of some maturing and existing debt, aligning it with the underlying project or asset life. This solution comprises a basket of innovative funding structures including the first corporate issuance in the Schuldschein market from a Middle Eastern borrower.

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Highly Commended:

Emirates Airlines,
Aldar Properties PJSC

Best in Class Treasury Solution in Africa, Winner – Photo of Geoff Gursel, Citi, Hadi El-Amaary and Tenzing Bomratsang, ABB.

Best in Class Treasury Solution in Africa

Winner: Andreas Krause, ABB South Africa (Pty) Ltd

The attention to detail that has been followed to create an efficient treasury management solution in Africa is the key differentiator of ABB’s solution here. For ABB to have developed a regional treasury solution that is both compliant with local regulations and efficient in servicing day-to-day business requirements highlights the true value of this infrastructure spanning 13 markets in the African continent.

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Highly Commended:

Nigerian Breweries Plc, Microsoft

Best SWIFT Solution, Winner – Photo of Richard Parkinson, Marco Brähler, F. Hoffman-La Roche and Meg Coates.

Best SWIFT Solution

Winner: Marco Brähler, F. Hoffmann-La Roche

Roche have created a SWIFT based solution to send out MT502-messages (order to buy or sell) which are delivered to the MMF providers directly, the MMFs return a MT509 (trade status message) followed by a MT515 (Client Confirmation of Purchase or Sale) message. In close collaboration with SWIFT, the project was successfully delivered within a short time frame of just six months.

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Highly Commended:

MOL plc, Grupo KUO

A Rising Star, Winner – Photo of Luca Hammel, Dufry.

A Rising Star

Winner: Luca Hammel, Dufry

Luca Hammel, Global Treasury Front Office Head at Dufry has been described as a “go-getter in all areas of treasury and finance”. Although he is early on in his career, Hammel’s already exemplary CV readily confirms this assessment.

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Highly Commended Winners

Top Treasury Team 2017, Highly Commended – Photo of Jonathan Burkhead and Brian Leibforth, Open Text Corporation, Simon Jones, J.P. Morgan, Paula McCool, Citi and Lesley White, Bank of America Merrill Lynch.

Top Treasury Team 2017

Highly Commended: Jonathan Burkhead and
Darlene Halliwell, Open Text Corporation

Open Text has achieved a remarkable turnaround of its treasury function. In terms of its bank account activities, it managed to open resident/non-resident bank accounts in each country in scope. Across EMEA, NA and APAC, it opened 116 new strategic bank accounts and set up delivery of bank statements for all new accounts daily in current BAI or MT940 formats.

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Winner:

Herc Rentals Inc.

Woman of the Year 2017, Highly Commended – Photo of Christy Barwick, Intellectual Ventures and Meg Coates.

Woman of the Year 2017

Highly Commended: Christy Barwick, Intellectual Ventures

Christy Barwick, Senior Director, Treasurer at Intellectual Ventures has blazed a path for women in her profession. Over 20 years she has worked in treasury for top multinational companies across multiple industries, a testament to her drive and ambition. On top of this incredible focus on her career, Christy has been able to forge a truly fulfilling life outside of the office, actively engaging in her community and offering assistance to individuals and organisations in need.

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Winner:

Janet M Gibbons

Best Cash Management Solution, Highly Commended – Photo of Fabio Monico, Bank of America Merrill Lynch and Maria Isabel Loria, José Cuervo.

Best Cash Management Solution

Highly Commended: Maria Isabel Loria, Casa Cuervo

Casa Cuervo not only integrated two businesses separated by over 5,000 miles with different systems and languages, but also revolutionised its treasury operation into a truly global one. It has successfully undergone a treasury transformation that today makes it one of the most important in Mexico and, indeed, globally.

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Winner:

Harley-Davidson, Inc.

Best Cash Management Solution, Highly Commended – Photo of Arn Knol, Zanders, Philip Stewart, British American Tobacco and Paul Greenhalgh, Deutsche Bank.

Best Cash Management Solution

Highly Commended: Philip Stewart, British American Tobacco

British American Tobacco partnered with Deutsche Bank and Zanders to undertake a global treasury centralisation and bank integration project to achieve centralised liquidity, payables and receivables. Critical to the success were the use of POBO and COBO techniques and the bank’s virtual account and virtual IBAN solutions with a central treasury vehicle acting as agent.

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Winner:

Harley-Davidson, Inc.

Best Liquidity Management Solution, Highly Commended – Photo of Stan Blykers and Koji Minami, Toyota Motor Europe and Yuki Ohashi, Citi.

Best Liquidity Management Solution

Highly Commended: Stan Blykers,
Toyota Motor Europe NV/SA

This solution combines a full payments and collections platform for RUB transactions, a fully automated domestic physical pool to consolidate all positions in a single hub, a true end-of-day automated sweep for the excess operational cash and an offshore interest-bearing RUB account to centralise the net position of all daily activity.

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Winner:

NTT DATA EMEA Ltd

Best Liquidity Management Solution, Highly Commended – Photo of Sheri Mossbeck, Leggett & Platt and Tom Murphy, Bank of America Merrill Lynch.

Best Liquidity Management Solution

Highly Commended: Sheri Mossbeck,
Leggett & Platt Incorporated

The company now runs a multi-currency notional pool (MCNP) through its Luxembourg treasury entity, which includes Chinese renminbi, US dollars, sterling and euro. Beneath this, the company has established three single currency pools which then interface with in-country local accounts which contribute their funds to the notional structure through physical sweeps.

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Winner:

NTT DATA EMEA Ltd

Best Short-Term Investing Solution, Highly Commended – Photo of Philippe De Coninck, Euroclear, Katie Walker and Bert Heirbaut, InterContinental Hotels Group.

Best Short-Term Investing Solution

Highly Commended: Bert Heirbaut and Katie Walker, InterContinental Hotels Group

IHG used a standardised Repo Access Global Master Repurchase Agreement (GMRA), pioneered by Euroclear as part of the dedicated service it offers corporate treasurers, rather than the bi-lateral GMRA which is traditionally negotiated bi-laterally with each counterparty, and can take months, if not years, of legal negotiation.

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Winner:

AstraZeneca

Best Working Capital Management Solution, Highly Commended – Photo of Chris Jameson, Bank of America Merrill Lynch collects the award on behalf of Walmart.

Best Working Capital Management Solution

Highly Commended: Matt Allen, Walmart

Walmart has installed cash recycler machines across all of its 4,700 US stores, including obtaining provisional credit from all banks for the cash that is in the machines.

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Winner:

Pfizer Inc.

Best AR Solution, Highly Commended – Photo of Miroslava Zsori and Richard Gasseling, adidas.

Best AR Solution

Highly Commended: Richard Gasseling, adidas

The Biller Direct solution is a web portal where adidas’ wholesale customers can view their customer accounts and pay their invoices online.

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Winner:

Anthem, Inc.

First Class Relationship Management, Highly Commended – Photo of Marco Marchi, BNP Paribas, Bertrand Minard, Mark-Corentin Cot-Magnas and Cédric Cadic, Amaris.

First Class Relationship Management

Highly Commended: Mark-Corentin Cot-Magnas, Amaris

To meet their expectations in delivering an efficient cash management structure in 30+ countries and providing a working capital optimisation solution, BNP Paribas was selected as the global banking partner for the 35 countries in scope.

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Winner:

Shell Treasury Centre Ltd

First Class Relationship Management, Highly Commended – Photo of Rónán Clifford, Honeywell and Gail Erskine, Barclays.

First Class Relationship Management

Highly Commended: Rónán Clifford, Honeywell

This solution showcases the relationship between Honeywell and its banking partner, Barclays, to address AML/KYC issues.

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Winner:

Shell Treasury Centre Ltd

Best Trade/Supply Chain Finance Solution, Highly Commended – Photo of Melanie Girouard, Citi and Benedikt Zimmermann-Kuehne, Kuehne + Nagel.

Best Trade/Supply Chain Finance Solution

Highly Commended: Roger Sutter, Kuehne + Nagel

Together with their e-invoicing partner and key relationship bank, Kuehne + Nagel has developed a fully technically integrated, one channel, seamless straight through invoice-to-cash platform, complemented with an accelerated supplier payment feature in the form of a receivable purchase option.

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Winner:

Microsoft

Best Trade/Supply Chain Finance Solution, Highly Commended – Photo of Adnan Al Hendi, Etihad Aviation Group and Meg Coates.

Best Trade/Supply Chain Finance Solution

Highly Commended: Adam Boukadida, Etihad Aviation Group

This SCF solution is fully complementary to Etihad’s existing infrastructure without the need for any manual intervention for the airline or its suppliers. The implementation of this solution is also in line with their treasury transformation agenda to centralise treasury operations in the UAE, including a complete overhaul of their working capital activities, systems, processes, technology and infrastructure.

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Winner:

Microsoft

Best Card Solution, Highly Commended – Photo of Helen Hanby, Biogen, Marco Buzzi, Bank of America Merrill Lynch and Steve Green, Biogen.

Best Card Solution

Highly Commended: Helen Hanby, Biogen

This card programme is an excellent example of best practice in the roll-out and ongoing management of a global scheme. Essential to its success is the fact that the roll-out was ‘owned’ by the treasury team.

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Winner:

Celgene

Best Card Solution, Highly Commended – Photo of Elsa Belperche, Citi, Jean-Paul Vanherf and Josette Vandenhouten, DuPont Sourcing & Logistics.

Best Card Solution

Highly Commended: Kelly Moyer,
DuPont Sourcing & Logistics

DuPont has taken a number of steps with this solution in order to realise its ambitious objectives to replace cards for 26,000 employees working at 250 legal entities in 50 countries.

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Winner:

Celgene

Best Funding Solution, Highly Commended – Photo of John McCarthy, VCNA.

Best Funding Solution

Highly Commended: John McCarthy, VCNA

The de-recognition of trade receivables under IFRS via a securitisation is not very common and only a handful of players in the industry have the capacity to implement and execute such a complex structure.

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Winner:

Hyundai Capital America

Best Funding Solution, Highly Commended – Photo of Adam Boukadida, Etihad Aviation Group and Meg Coates.

Best Funding Solution

Highly Commended: Adam Boukadida, Etihad Aviation Group

This transaction took place in the wake of the biggest aircraft finance story of 2016 – the unprecedented hold placed on all guarantees and export credit support of Airbus products by UK Export Finance, COFACE (the French ECA) and Euler Hermes (the German ECA) as a result of disclosure issues investigated by the UK Serious Fraud Office.

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Winner:

Hyundai Capital America

Best Foreign Exchange Solution, Highly Commended – Photo of Thomas Leitch, TreasuryXpress and Alistair Cotton, Clearsettle.

Best Foreign Exchange Solution

Highly Commended: Alistair Cotton, Clearsettle

The company’s FX and liquidity challenges were highly complex and all revolved around volume, variety, and velocity. To ensure that it could build a solution that would help it in all areas of control, speed, and scalability, it worked collaboratively with TreasuryXpress to customise its cloud-based solution.

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Winner:

World Vision International

Best Foreign Exchange Solution, Highly Commended – Photo of Benjamin Gilbert, Citi collects the award on behalf of Diageo.

Best Foreign Exchange Solution

Highly Commended: Diageo Group Treasury, Diageo

Diageo is continually concerned with maintaining a FX risk management policy that meets its risk management/corporate objectives, maximises cost efficiency and is exemplary of current best practice.

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Winner:

World Vision International

Best Risk Management Solution, Highly Commended – Photo of Tasja Botha, OpenLink and Ben Jackson, Etihad Aviation Group.

Best Risk Management Solution

Highly Commended: Adam Boukadida, Etihad Aviation Group

Both TMS’s have been replaced with a single platform, provided by OpenLink, which covers all key treasury requirements. The new system has dramatically reduced manual processing, including direct interfaces to dealing platforms such as 360T.

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Winner:

Philips

Best Cash Flow Forecasting Solution, Highly Commended – Photo of Jayna Bundy, Microsoft and Meg Coates.

Best Cash Flow Forecasting Solution

Highly Commended: Oystein Harsvik, Chase Johnson and Jacob Chowpaknam, Microsoft

Microsoft Treasury and Microsoft’s Cortana intelligence team partnered together to build a machine learning forecasting solution for accounts receivable. This addresses a key exposure for the company and exceeded expectations by improving forecasting accuracy and operational efficiency for the team.

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Winner:

Microsoft

Harnessing the Power of Technology, Highly Commended – Photo of Bradley Gains, Parv Gill, Lucy Rideout, UPS, Steve Hall, J.P. Morgan, Edward Hebblethwaite, Standard Chartered, Michiel Radder, BNP Paribas and Hollie Starkey, Reval.

Harnessing the Power of Technology

Highly Commended: Parv Gill, UPS

UPS has become an innovator in harnessing data to drive critical decisions and improve complex processes. The solution showcased here has put future-proof processes in place too.

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Winner:

Goshawk Aviation Limited

Harnessing the Power of Technology, Highly Commended – Photo of David Preston, National Grid and Robert Crowe, Reval.

Harnessing the Power of Technology

Highly Commended: David Preston, National Grid

In just four months, National Grid was able to establish a world-class treasury function using Reval’s software as a service (SaaS) treasury and risk management solution and outsourced hedge accounting.

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Winner:

Goshawk Aviation Limited

Harnessing the Power of Technology, Highly Commended – Photo of Dirk Schreiber and Gabrijela Dadic, Fresenius.

Harnessing the Power of Technology

Highly Commended: Dirk Schreiber, Fresenius

Fresenius required a payment factory and a payment processing platform which is fully integrated with its various ERP systems and also provides security and compliance.

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Winner:

Goshawk Aviation Limited

One to Watch, Highly Commended – Photo of Divyesh Modi, Barclays and David O’Rourke, Ornua Co-operative Ltd.

One to Watch

Highly Commended: David O’Rourke,
Ornua Co-operative Ltd

This relates to a pilot transaction in September 2016; a letter of credit which guaranteed the export of €110k worth of dairy products from Ireland to the Seychelles using distributed ledger/ blockchain technology.

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Winner:

Microsoft

One to Watch, Highly Commended – Photo of Scott Cooper, Panini and Yann Leray, BNP Paribas.

One to Watch

Highly Commended: Fabrizio Masinelli, Panini S.p.A

This is a proof of concept using blockchain for cross-border payments. The transactions were conducted between Panini Group and Australian packaging firm Amcor. Each transaction was cleared in a few minutes and used different currencies to facilitate transactions between bank accounts located at branches in Germany, the Netherlands and the UK.

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Winner:

Microsoft

Best in Class Treasury Solution in the Middle East, Highly Commended – Photo of Graham Pepe, Emirates Airlines and John Murray, Citi.

Best in Class Treasury Solution in the Middle East

Highly Commended: Umar Pirzada, Emirates Airlines

As a corporate dealing with multiple financial institutions, Emirates Airlines needed to first understand the Message Implementation Guidelines (MIGs) of all the banks they wanted to work with. They turned to Citi and have worked with SWIFT MyStandards to provide the solution.

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Winner:

Etihad Aviation Group

Best in Class Treasury Solution in the Middle East, Highly Commended – Photo of Ali Sabry, Aldar Properties PJSC and Sarah Campbell, EY.

Best in Class Treasury Solution in the Middle East

Highly Commended: Ali Sabry, Aldar Properties PJSC

The ultimate goal was to eventually establish greater visibility and control of cash flows and effectively utilise the excess cash across entities through a structured liquidity management solution.

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Winner:

Etihad Aviation Group

Best in Class Treasury Solution in Africa, Highly Commended – Photo of Geoff Gursel, Citi collects the award on behalf of Nigerian Breweries and Meg Coates.

Best in Class Treasury Solution in Africa

Highly Commended: Sola Ismail, Nigerian Breweries Plc

This multi-faceted project has highlighted numerous instances of best practice and innovation. Most notably, the level of collaboration between the Nigerian Breweries’ treasury team and Citi was especially impressive.

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Winner:

ABB South Africa (Pty) Ltd

Best in Class Treasury Solution in Africa, Highly Commended – Photo of Henry Byrne, Microsoft, Eric Standing, Standard Chartered and Neil Doyle, Microsoft.

Best in Class Treasury Solution in Africa

Highly Commended: Rahul Daswani, Microsoft

Working with Standard Chartered, Microsoft has developed a non-recourse receivables financing solution where payment terms can be extended to 210 days on a fully disclosed transaction.

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Winner:

ABB South Africa (Pty) Ltd

Best SWIFT Solution, Highly Commended – Photo of Zoltan Szucs, Nora Nemes, Zsuzsanna Ortutay and Anett György, MOL plc.

Best SWIFT Solution

Highly Commended: Anett György and Zsusanna Ortutay, MOL plc

The aim of the MOLSWIFT project was to replace the many formerly used electronic banking terminals with a single robust, state-of-the-art electronic banking communication tool with the highest security standards, in order to improve control, visibility, security and efficiency in the daily banking operations.

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Winner:

F. Hoffmann-La Roche

Best SWIFT Solution, Highly Commended – Photo of Martin Barrios, Bank of America Merrill Lynch and Luz María Chávez Alcántar, Grupo KUO.

Best SWIFT Solution

Highly Commended: Luis Eduardo Díaz Loera, Grupo KUO

The SWIFT connection offers a single connection, single data network and single security standard, so that operational risk is mitigated while providing better visibility and control.

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Winner:

F. Hoffmann-La Roche