In this instalment of our Finance Leaders series, we speak to Michel Verholen, Assistant Treasurer – Global Treasury Operations Lead at Zoetis. At the Amsterdam forum, Verholen discussed the need to maintain a close relationship between data management and business lines.

Commenting on the importance of having clean, reliable data in place before adopting artificial intelligence (AI) tools, Verholen said: “We had a discussion about whether treasury should really own the data, or whether it should be internal IT.” In either case, he added, whoever maintains the data needs to “really understand the driver behind all the different processes.”

What did you want to be when you grew up?

Honestly, looking back, I must admit that I never had a ‘big dream’ in mind when it comes to a future profession. What I did admire from a young age was people who could stand on a stage, set an example, and bring others with them. Before I knew anything about corporate life, that translated into looking up to music stars: not just for the talent, but for the confidence, presence and influence they had.

I now realise that my aspiration at that age was to grow into someone who somehow could have a similar impact.

How did you start your career in treasury?

It was quite accidental. My first roles were in accounting, with only small touchpoints into treasury. My third job was with an international company going through an acquisition, and as people at the headquarters moved on, I was asked to take a temporary assignment there. This role was based in Amsterdam, while I was living in Belgium, so it was also my first experience working in a different environment. It is also here where I learned controllership and financial planning and analysis (FP&A) – and what was meant to be a short stint ended up lasting two years.

When a division later spun off and was acquired again, I stayed with the spin-off under a US parent with limited international treasury experience. Because I’d supported the due diligence and knew the business, I was asked to help build out treasury internationally – and I haven’t looked back since.

What is the most exciting part of your day?

When a complex problem becomes clear – and then solvable. That might be simplifying a cash structure, automating a manual process or aligning stakeholders across regions to make a decision that improves control and agility.

I also really enjoy coaching: a quick conversation that helps someone progress faster than they would alone is a win for them and for the team. The best days are a mix of impact, learning and momentum.

What has been your biggest personal challenge of the past few years?

One of my biggest challenges has been leading through transformation while also navigating a change in senior leadership. As part of a company-wide transformation, I was asked to define the future state for treasury, which meant making some critical decisions at exactly the time my SVP changed. My new SVP had a very different approach and perspective from my previous manager, so I had to balance what I genuinely believed was right for the company with a leadership view that had shifted.

Aligning on direction, staying practical and keeping progress moving wasn’t always easy, but it taught me a lot about communication and resilience. It sure was a challenge for me, but being able to deliver at that moment probably was also my biggest achievement in my career.

What has been one of the biggest challenges for the industry over the past few years?

Keeping up with constant change on multiple fronts. On one side, we’ve had volatility and uncertainty, which keeps liquidity, risk and resilience high on the agenda. On the other side, banking is evolving fast: real-time payments, faster processing and more integrated end-to-end solutions.

At the same time, technology is moving just as quickly, with tools becoming more advanced and expectations rising around automation, data and connectivity. The challenge is to modernise at speed, without losing control, quality or the day-to-day reliability the business depends on.

Has there been someone who inspired, mentored or supported you in your career? Who was it and how?

There have been many. I’ve been lucky to mostly work with leaders who really shaped how I think. One approach I still use is from early on in my treasury career to always look at activities through the shareholder’s lens, which is particularly important in treasury.

I’ve also benefited from a professional coach, particularly during the transition from being a strong individual contributor to becoming a people manager. That support helped me shift from ‘doing the work’ to leading others, at a time when the company I was working for was growing quickly through acquisitions.

Even now, 20+ years into my treasury career, I realise that being inspired by leadership is what is keeping me in a role. The few times I changed jobs it was because I felt I was not learning anything.

What can senior leaders do to inspire others?

For me, it starts with setting an example. People watch what leaders do more than what they say – how they handle pressure, how they treat others, how they make decisions, and whether they stay curious and open to learning.

Simple things matter: being visible, giving credit, listening properly, and showing that integrity and respect are key. I also find it inspiring when senior leaders share the ‘why’ behind decisions and are honest about trade-offs – it helps others learn how to think, not just what to do.

What is next for you?

For a long time, my clear goal was to become the group treasurer, and I was on that path until a few years ago, when the role was eliminated and combined with the head of tax. That change made me rethink what ‘next’ really means. I know I add a lot of value in my current role, and I still have big plans for what we can build and improve in treasury.

At the same time, in all honesty: the constant change in areas you can’t control – typical for a corporate environment – can be very tiring. More than anything, I’ve realised my career isn’t only about a title or the company – it’s about the impact I can deliver, the team I can develop and the outcomes we can achieve for the business. I’ll keep doing what I have been doing throughout my career: stay open, stay curious and see what the future holds.