Carphone Warehouse Group (CPW) is the largest independent mobile phone retailer in Europe. The UK-based firm owns and operates about 2,400 retail outlets across the region. Outside the UK and Ireland, it trades as the Phone House. CPW’s current treasury operation consists of two teams, each with a treasury manager: one carrying out projects and development and the other covering operations. In total, the whole function is staffed by seven “jacks of all trades”, where previously it had accounted for up to 14 staff (immediately pre-demerger from TalkTalk).