Aysha Sheikh, currently the Group Treasurer at Evolution AB, discovered her fervour for Treasury during her time at the Swedish telecom giant Ericsson. Her journey began in 2011 when she embarked on a role in Credit to Cash at Ericsson’s headquarters in Stockholm. Demonstrating her versatility and acumen, she transitioned to the position of Risk Manager within the Group Treasury. Subsequently, Aysha assumed the role of Treasury Manager at Ericsson Dubai, showcasing her adaptability on a global scale. In 2019, she embarked on a new chapter, joining PwC’s esteemed centre of excellence for Treasury consulting in Brussels. In 2020, Aysha embarked on a pivotal juncture in her career by joining Evolution during a period of exponential growth, becoming the company’s inaugural dedicated treasury resource. During her time at Evolution the company have entered new markets and grown from 6000 to over 20,000 employees.
Within Evolution, Aysha’s leadership and adept treasury skills swiftly garnered the admiration of colleagues and peers alike, solidifying her status as an indispensable asset to the organisation.
Aysha’s approach to treasury is defined by a preparedness and confidence to challenge norms and explore different ways of doing things. Together with her innovative mindset and tireless enthusiasm, she inspires colleagues to focus on what treasury can and does deliver, celebrating and pushing the breadth and depth of the profession way beyond any traditional payment function.
Her over a decade of treasury experience includes living overseas in Europe and the Middle East, while working for multinational corporations and a big four firm. Her experience includes advising multinational businesses on set up and design of their Treasury functions, global cash management proposals and implementations, liquidity management, cash pooling solutions, capital structure planning and execution, cash flow forecasting and reporting, banking partner selections and building strong relationships, financing, treasury management system selection and implementation, governance, control and reporting and financial risk management.
She has led entire system wide implementations, including Kyriba, FIS Integrity and Trax. By successfully releasing trapped cash she has created significant momentum for a firm. Her ability to innovate and leverage treasury’s full capabilities resulted in successfully reducing FX exposure while working for Ericsson. At Evolution she has built up the treasury function from scratch while initiating and leading diverse projects including enhancing cash management, onboarding global banks, conducting bank account rationalisation, optimising cash pools, setting up H2H payments, creating treasury policies and introducing cash investments. She has also implemented a global company card programme and centralised over 85% of group cash at Evolution.
“Aysha is a trusted partner and an inspirational female leader with a forward-looking perspective. She has overseen Evolution’s treasury in a period of significant growth and expansion and during the growth also balanced pioneering innovative treasury solutions to create a future-proof treasury function. She is an efficient leader with clear ambitions and communication and is an excellent role model for everyone around her,” said one partner.
Others credit her with winning the trust of the team to move her vision for Evolution’s global cash management business forward. “She provides clear guidance, and her excellent communication has allowed us to work both efficiently and with enjoyment. She is one of the most innovative treasurers I have had the pleasure of working with,” said another partner.
Aysha’s endorsements speak to her ability to connect with and lead people. Fittingly, connecting with people is also part of the job which has always given her the most satisfaction. Aysha’s interest in, and championing of, people particularly manifests around DEI as they have been integral aspects of her life since childhood. She grew up in Stockholm with two brothers and parents who had migrated from Pakistan, so had encountered contrasting cultural perspectives at home and in society from an early age. She believes this contrast helped to spark her awareness of diversity, equity and inclusion and laid the foundation for her future work in this arena. Traditional gender roles prompted her early questioning of societal norms and curiosity in leadership roles for women.
She says the need to support DEI is as important as ever because women still struggle to be heard and included. She approaches challenging environments by engaging empathetically with colleagues and demonstrating a willingness to learn about other cultures – even those with less progressive attitudes – and leading by example. She says less-positive experiences have helped inform her leadership and approach to inclusivity.
Aysha’s professional achievements are notable, but she feels great reward by giving back during her personal time too. Her incredible ability to balance the demands of her Group Treasurer role with the numerous humanitarian, educational and business initiatives she delivers are inspirational.
Aysha has fully embraced her role as an ambassador to drive change and create opportunities for others. She pours much of her energy into building opportunities and reducing barriers for women back in Pakistan. She has set up a charitable school for children whose families can’t afford public school and has financed wells in rural villages. She also supports her female cousins to take practical steps to secure their futures.
Aysha attributes much of her own resilience and determination to her grandmother. She raised five children on her own, working as a seamstress after Aysha’s grandfather died. Her life story is a constant source of inspiration and motivation, helping Aysha find her way, and engraining her belief that people can change.
Colleagues credit her humility, openness, and communication skills, as well as her capacity for kindness. They say her unique ability to adapt to her environment and enact change are what sets her apart.
