It’s not often that the phrases “treasury transformation” and “access to water” go hand in hand. But when Aliaxis, which makes pipes and fittings, the majority of which are used to transport water, overhauled its treasury function it transformed the company’s ability to finance the safe distribution, treatment and storage of the world’s most precious resource across ten LATAM countries.

Hired as Global Head of Treasury in 2021, Séverine Le Blévennec has overseen a sweeping, global treasury transformation. In LATAM that has focused on shaking up the company’s banking relationships to release new financial lifeblood.

This included selecting banking advisors that offered the best in-country support, and the ability to embrace the latest technologies. Those selected needed to be compatible with Aliaxis’s new treasury management system (TMS) and payment hub, as well as provide the appropriate level of credit both in the region and for the group revolver credit facility (RCF).

Le Blévennec wanted to reduce the number of banks and bank accounts, as well as ensure ongoing visibility on the bank account structure and the cash balances. She sought to optimise the liquidity and interest expense/income in the region and ensure best in class service levels from the cash management banks – Citi, BBVA and BAC. Another priority was ensuring ongoing visibility of the transaction banking fees (eg via Camt 86) and competitive pricing. The team also needed to onboard the region on the new payment hub (including moving to the latest ISO 20022 XML standards).