Treasury Today Country Profiles in association with Citi
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February 2008

Previous editions

Editorial

First Annual Adam Smith Awards for Best Practice and Innovation

Last month we announced an exciting new initiative at Treasury Today, the Treasury Today Adam Smith Awards for Best Practice and Innovation in corporate treasury.

The on-line nomination form is now live at treasurytoday.com and many of you will shortly be receiving our email encouraging you to submit your nominations.

Please note that these are awards to corporates who are demonstrating best practice or innovation in corporate treasury.

If you are a corporate and would like to be considered for one or more awards please apply using the nomination form. If you are a bank or other service provider you can nominate your customers or encourage them to apply directly. Nominations will close on 30th April 2008.

If you want more information please do not hesitate to contact us on the awards email address – awards@treasurytoday.com – or call us on +44 130 462 9000. If you want to nominate your company or someone else please visit treasurytoday.com

The short nomination form should take less than fifteen minutes to complete. Shortlisted companies will be asked to provide additional information to enable their nominations to be considered in more detail.

The award winners will be announced at our awards luncheon at the Four Seasons Hotel in London’s Canary Wharf on Thursday 19th June and will be featured in an Awards Supplement published with the July/August edition of Treasury Today.

There are 12 award categories as follows: -

  1. Bank Relationship Management

  2. Global Liquidity Management

  3. Working Capital/Financial Supply Chain/Payable and/or Receivable Solutions

  4. Outstanding Insourcing or Outsourcing

  5. The Best SEPA Solution

  6. Leveraging Corporate Debt Solutions

  7. Effective Enterprise Risk Management

  8. Mid-market Treasury

  9. Managing Pension Liabilities

  10. Harnessing the power of technology

  11. Bright SOX award for good corporate governance

  12. Treasury Today’s Top Treasury Team – awarded for overall excellence

For a fuller definition of each of the above categories, please visit treasurytoday.com where the on-line nomination form is also available. Please submit your nomination in one or more of the above categories. If in any doubt, nominate in more than one category. The initial nomination form should take no longer than fifteen minutes of your time.

If you wish to provide additional information to support your nomination at this stage please do so via email to awards@treasurytoday.com

All your submission has to demonstrate is best practice and/or innovation in the corporate treasury arena.

Why are they called Adam Smith Awards?

Adam Smith helped to develop modern economic theory and provided a rationale for free trade and the capitalist system. He was a leading innovator of free-market policies and an advocate of a free society and is perhaps best known for his series of books ‘An Inquiry into the Nature and Causes of the Wealth of Nations’ normally referred to as ‘The Wealth of Nations’. This work advocates the division of labour and the benefits of competition and free trade and also has some wonderful observations on how markets work:

“The proposal of any new law or regulation of commerce which comes from (dealers… in any particular branch of trade or manufactures)… ought never to be adopted till after having been… examined… with the most suspicious attention. It comes from an order of men… who have generally an interest to deceive and even to oppress the public.”

“Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it…”

When developing the awards we wanted to signal to everyone they are not just another industry award but to recognise excellence. That is why we have named them after Adam Smith who reminds us all what best practice is.

The awards are given to corporates, the end-users of banking and other services not to the suppliers themselves.