• Richard Parkinson, Edward Collis and Vic Davis from Virgin Atlantic and Martin Bellin, Bellin

    Virgin Atlantic, Highly Commended, Harnessing the Power of Technology

    A number of sub-optimal interfaces between the internal ERP systems at Virgin Atlantic, external electronic banking systems and IT vendor applications were replaced by a single payment gateway which could send payment files to the banks and receive account balance and transactional information centrally. Key objectives were to:

  • Lewis Warren, J.P. Morgan collecting on behalf of UnitedHealth Group

    UnitedHealth Group, Highly Commended, Best Foreign Exchange Solution

    UnitedHealth Group Incorporated has been looking at international expansion for a number of years. Brazil has been an area of focus given its favorable economic and demographic development and composition. In the fourth quarter of 2012 UnitedHealth group announced the purchase of Amil, the largest private healthcare provider in Brazil. This transaction was UnitedHealth Group’s largest acquisition in the international arena.

  • Cormac Donohoe, Citi and Stuart Kirk, Xerox

    Xerox, Winner, Best Foreign Exchange Solution

    With over 25 years of FX experience, Stuart Kirk, Head of Global FX Risk Management, was able to identify some of the key areas of risk to the firm and potential shortcomings. “We needed to do three things,” says Kirk, based at Xerox’s Treasury Centre in Dublin. “We need to look at our exposures on a consolidated basis and quantify the total impact of FX volatility on our earnings; to increase the transparency of our hedging programme to ensure cost/risk optimisation; and to come up with a more systematic approach to FX hedging, which ensures we consistently meet the corporation’s risk management objectives. The project was about clarity, measurability, and the ability to benchmark performance against alternative solutions.”

  • Steven Elms, Citi collecting on behalf of Yannick Gehin

    Danone Asia, Highly Commended, Best in Class Benchmarking

    With the help of Citi, Danone participated in the People’s Bank of China’s (PBoC) newly launched pilot scheme for renminbi (RMB) cross-border lending. By pioneering RMB cross-border lending, Danone has been able to complete a critical step in its expansion plans by adding RMB to its treasury management currency basket, and thus leverage surplus RMB in China to finance the net debt of its regional treasury centre (RTC) in Singapore. The structure optimises Danone’s treasury activities to realise improved global liquidity management and greater efficiency.

  • Onkar Liddar and Scott Ahlstrom from Accenture

    Accenture, Winner, Best in Class Benchmarking

    Accenture’s multi-year Treasury Transformation project (TTP) was triggered by two major business imperatives. First was the rapidly deteriorating economic stability in major economies that increased Accenture’s financial risk profile. The second was, and remains, Accenture’s continued growth trajectory, particularly in new, non-traditional geographies.

  • Paul Taylor, Bank America Merrill Lynch collecting on behalf of James Muir

    Wolters Kluwer, Highly Commended, One to Watch

    Treasury professionals know the value of having a treasury workstation (TWS). However, there are many who struggle with the customisation (or lack thereof) of their current TWS. Many others do not have the budget or IT staff needed to implement an off-the-shelf or a consultant-led customised workstation. The responsibility of Wolters Kluwer’s treasury department (as a shared service centre (SSC)) includes finding the most effective and efficient ways to manage company and employee subscriptions to banks, accounts and services.

  • Colin Fraser, Abu Dhabi Commercial Bank and Harish Pai, Tourism Development & Investment Company

    Tourism Development & Investment Company, Highly Commended, One to Watch

    Tourism Development & Investment Company (TDIC), established in 2006, is a master developer of major tourism related infrastructure and destinations in Abu Dhabi, UAE. The company is behind some of the most prestigious projects undertaken in Abu Dhabi, including Saadiyat Island which will house the world’s largest concentration of premier cultural institutions such as the Zayed National Museum, the Louvre Abu Dhabi and the Guggenheim Abu Dhabi. TDIC is a critical contributor towards Abu Dhabi’s vision 2030, the ambitious plan for economic and cultural development of the emirate.

  • Diane Quinn, J.P. Morgan collecting on behalf of Beth Krotiak

    US Foods, Inc, Highly Commended, One to Watch

    US Foods operates cheque collections out of a national service centre in Tempe, Arizona, where more than one million payments are processed annually.

  • Lewis Jones, The Automobile Association and Maurice Cleaves, Barclays

    The Automobile Association, Winner, One to Watch

    Writing cheques is becoming more expensive and less convenient. Furthermore, cash is inconvenient for the Automobile Association’s (AA) engineers and fitters, and also provides no certainty to the customer that the money has actually been delivered to the AA. As Lewis Jones, Manager, Operational Banking, recalls, “we began to look for a way to have an instant transaction that doesn’t compromise trust in anyway.”

  • Karsten Kabas, Merz Pharma Group

    Merz Pharma Group, Highly Commended, Best MME/SME Treasury Solution

    Karsten Kabas, Head of Corporate Treasury, explains the background at Merz Pharma Group. “We were operating from a ‘behind best practice’ position still dealing via telephone, administrating the portfolios in Excel and dependent on the banks’ valuations for accounting purposes. So we leveraged the use of our new information tool (Bloomberg) to implement electronic dealing; we integrated administration and real-time valuations of all portfolios and established a bypass to include the remaining telephone deals.”