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An Entrepreneurial Approach to Centralisation at AkzoNobel

An entrepreneurial approach to centralisation

AkzoNobel has a centralised approach to treasury management, with a regional treasury centre (RTC) based in Singapore with responsibility for Asia Pacific, apart from China, Hong Kong and Taiwan which are supported through a dedicated tresury function in Shanghai.

Key Points

  • AkzoNobel has now finalised and implemented regional cash management mandates for its business in Asia with HSBC and Deutsche Bank
  • A state of the art payments factory has been established
  • HSBC has been appointed as the company’s partner bank for a new trade finance strategy across Asia, in which AkzoNobel NV borrows under a single facility
  • The author summarises the challenges and benefits of the new systems, and describes the firm’s approach to the centralisation of FX risk management

 

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Written by:

expert

Jarno Timmerman

AkzoNobel Treasury & Investor Relations

Head of Treasury South East Asia Pacific

This article is available as part of an extensive case studies collection: Strategic Treasury Series

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