Specifically, the project focused on three key areas:

People: GE Corporate depended on large, specialised teams for functions such as bank administration, treasury payments and liquidity management across its major hubs. As a standalone entity, GE Aerospace required a leaner, more agile team with a comprehensive understanding of the entire treasury lifecycle. This team needed to be closely aligned with key business stakeholders to ensure robust governance and resilience. They were tasked with seamlessly managing day-to-day operations throughout the transition while redesigning processes. This effort culminated in February 2024 with the launch of FLIGHT DECK, GE Aerospace’s proprietary lean operating model.

Platforms: with GE Vernova retaining GE’s legacy treasury systems, GE Aerospace had to build a new treasury tech stack from the ground up within 12 months. This involved assessing and selecting market vendors, designing and implementing a scalable, cost-effective architecture to replace outdated homegrown systems. PwC provided advisory support during the separation and was involved in the implementation of AtlasFX, and FIS solutions, including Quantum, Payment Hub and eBAM.

Processes: post-spinoff, GE Aerospace overhauled its governance and execution strategies across core treasury disciplines. Priorities included revising policies, refining governance frameworks and re-engineering critical processes such as global cash consolidation. The aim was to enhance visibility, optimise capital and manage risk effectively. To achieve this, GE Aerospace established clear treasury priorities with metrics and operating rhythms to track progress and address any gaps. The transformation emphasises eliminating manual processes and adopting automation to streamline operations and boost efficiency.