TREASURY & CASH MANAGEMENT 2007
Head, Transaction Banking, Europe
Anne Boden manages ABN AMRO Transaction Banking across Europe. She is also responsible for preparing it for future commercial and regulatory challenges. These will include addressing the changing business environment that will be brought on by the single euro payments area (SEPA). Boden joined ABN AMRO’s transaction banking unit from Aon, where she served as chief information officer and sat on the board of directors.
CEO, Transaction Banking
Ann Cairns is responsible for the global product business unit, a $5.8 billion revenue generator that develops and delivers cash management, trade and card products and services to all of ABN AMRO’s clients worldwide—including commercial clients, consumers, private clients, global clients and financial institutions. Before joining ABN AMRO, Cairns held senior management positions in corporate and investment banking at Citigroup, culminating in the role of chief operating officer for the bank’s Global Transaction Services.
Jill J. Bradley-Guerrino
Financial Director, Cash Operations
Allianz of America
Within her position as financial director, Jill Bradley-Guerrino is in charge of all cash operations of Allianz Life and associated entities. The main functions within these departments include bank relationship management and services, cash operations and forecasting, financing strategies, strategic planning and risk management. During her 16-year tenure with Allianz, Bradley-Guerrino has held numerous positions in the finance arena.
Senior Managing Director and CFO
Loren Starr is the chief financial officer at AMVESCAP, a leading global investment manager. Starr was previously CFO of Janus Capital Group and has held positions with Putnam Investments, Lehman Brothers and Morgan Stanley. In 2006 he was elected to a two-year term as chairman of the board of directors of the Association for Financial Professionals, where he has served as a member since 2002.
President and CEO
Association for Financial Professionals
As president and CEO of AFP, Jim Kaitz manages the operations of an association that represents more than 15,000 treasury and financial professionals throughout the US and in more than 40 countries. Kaitz is a strong advocate on key issues such as the reform and oversight of the credit rating agencies and banks’ practices of tying the access to credit to bank revenues. He has testified before congressional committees and other regulators and has helped to raise awareness on key issues affecting the practice of treasury and the capital markets. His efforts on the global landscape include the launch of the China Forum and the acquisition of London-based GTnews, an online resource for the treasury and finance community used by 47,000 professionals worldwide.
Machado de Oliveira Rizaelcio
Head of Treasury and Cash Management
Machado de Oliveira Rizaelcio has developed and manages payment solutions for cash management at Bradesco, which is the largest private bank in Brazil. His department analyzes, develops and provides customized solutions for each corporate customer and covers receipts, payments and treasury. Rizaelcio has also developed several products, services and systems that focus on the improvement of business structures.
Marco Antonio Sudano
Marco Antonio Sudano manages treasury operations at Brazilian Banco Itaú. He was the former president and is a current member of the National Association of Open Market Institutions and ex-president of the Markets/Treasury Committee of the Brazilian Association of International Banks. Sudano’s previous corporate finance positions have included six years with Bunge Group and nine years at JPMorgan. He has also worked at Unibanco Asset Management, Quantix Investments and BankBoston.
Catherine P. Bessant
President, Global Treasury Services
Bank of America
Catherine Bessant leads a business that generated $6.7 billion in revenues and $2.2 billion in net income in 2006 and that ranks number one in market share of treasury revenue globally. Global Treasury Services serves more than 120,000 business and institutional clients worldwide and offers treasury management, trade finance, foreign exchange, short-term credit facilities and global liquidity management. Bessant, who joined the company in 1982, was most recently global marketing executive for Bank of America and, before that, president of Bank of America, Florida.
North America Large Corporate Treasury Executive
Bank of America
Bank of America recently appointed Michael Fossaceca to its Global Treasury Services business, where he will take care of large corporate clients in North America. Fossaceca drives revenue in North America by executing winning sales strategies, deepening client relationships and improving client satisfaction. As an 18-year veteran of JPMorgan Chase, Fossaceca served there on the Treasury Services Executive Team and Operating Committee to develop and execute global business strategy.
Eric D. Kamback
Executive Vice President and Group Head for Global Payment and Trade Services
The Bank of New York Mellon
Eric Kamback’s group at The Bank of New York Mellon provides trade finance and treasury services to financial service companies, corporations and governments worldwide. Kamback, who joined The Bank of New York in 1980, has established all strategies pertaining to sales, product management and product development, and his initiatives have influenced the approach to world markets throughout the banking industry. Under his direction, his group has grown sales and revenues significantly and developed major client bases in Europe, Asia and the Americas.
Robert W. Stasik
Executive Vice President
The Bank of New York Mellon
Robert Stasik oversees several of the company’s key strategic businesses, including treasury services, liquidity management and shareholder services. The businesses support the delivery of The Bank of New York Mellon’s global portfolio of integrated products and services. These are designed to help clients optimize their cash flow, raise capital, manage liquidity, conduct international commerce and manage their accounts payable and accounts receivable functions.
Managing Director, Global Head of Cash & Liquidity Sales
Barclays Global Investors
Mark Stockley is responsible for the sales and client service of BGI’s cash management capabilities and money market funds, managing teams based in London, San Francisco and Hong Kong. As of June 2007 BGI managed approximately $238 billion in cash assets globally, including more than $70 billion in Europe. Stockley, who brings 17 years of experience in the cash business, joined BGI from JPMorgan Asset Management, where he was head of institutional liquidity (EMEA). Prior to JPMorgan, he was head of Asian operations for Goldman Sachs Asset Management. Stockley is the treasurer and a director of the Institutional Money Market Fund Association (IMMFA).
British American Tobacco
In recent years BAT has been at the leading edge in looking at holistic risk management. That focus takes into account the diverse risks across its businesses in 180 countries, while managing them as a whole. Over the past six years group treasurer David Swann has led an initiative to centralize treasury operations in London, Singapore and South America. Such centralization allows the firm both to spread savings and to improve visibility for managing risks.
Francesco Vanni d’Archirafi
Global Head of Cash Management
Francesco Vanni d’Archirafi recently was appointed global head of cash management at Citi, where he focuses on delivering best-in-class solutions for clients and driving continued innovation. Before taking on his current role, d’Archirafi was in charge of the Global Transaction Services unit’s largest region, which encompasses Europe, the Middle East and Africa. In that role, he doubled business turnover and tripled net income contribution to the franchise in three years. D’Archirafi, who has been a senior banker at Citi for more than 24 years, is a member of Citi’s Management Committee and chairman of Citibank Europe.
CEO, Global Transaction Services
Paul Galant is CEO of Global Transaction Services, one of Citi’s 12 publicly reported product lines. It offers cash management, trade services and finance and securities and fund services worldwide, processing over $3 trillion in payments daily and handling more than 1 billion transactions annually. Galant was previously head of Citi’s cash management business. Under his leadership the business grew significantly and improved its operating performance. In addition, it has gained recognition for innovation and excellence from many publications, including Global Finance.
Frederick A. Schnacknies
Assistant Treasurer, International
Constellation Energy Group
Fred Schnacknies joined Constellation Energy in June 2007 as assistant treasurer international. He is responsible for providing financial analysis and developing financial and capital structures to support international acquisitions and implementing international treasury policies and systems. Prior to Constellation Energy, Schnacknies worked for Lucent Technologies for eight years, most recently as director, in-house bank. At Lucent he implemented an in-house bank and global treasury system, which brought the company three Alexander Hamilton Awards in 2004 in Financial Risk Management, Cash Management and Overall Excellence.
Head of Trust & Securities Services and Cash Management for Financial Institutions, Global Transaction Banking
Dinkar Jetley has established Deutsche Bank as a leading global provider of payments and securities services to financial institutions. Global Transaction Banking has committed to investing in its technology and accommodating the latest regulatory requirements for SEPA, Target II and Know Your Customer. As a result, it has secured significant payments clearing and private-labeling cash management mandates. Under Jetley’s leadership, Trust & Securities Services has also continued to expand into new markets.
Head of Global Transaction Banking
Werner Steinmueller has led Deutsche Bank’s Global Transaction Banking on a growth and performance-driven course throughout Europe, Asia and the Americas. GTB’s strategic investment in new opportunities across developing cash markets in Asia and Europe has strengthened the bank’s position. By a similar token, expansion of its custody footprint in trust and securities services businesses has enhanced its standing. By leveraging SEPA, the bank builds on its foothold in Europe while continuing to develop global solutions based on its worldwide delivery network. Steinmueller has implemented important architecture redesigns in Deutsche Bank’s infrastructure, such as a single global platform for high-value payments (money transfer new architecture) and a next-generation of messaging and routing functionality.
Christopher Del Moral-Niles
The First American Corporation
Christopher Del Moral-Niles coordinates all cash management, investment, financing and capital management activities across the First American Family of Companies. Niles also supports several initiatives related to the centralization of treasury functions, financial planning and budgeting for the company. He assumed his duties with First American in August 2006, coming from Union Bank of California, where he most recently served as senior vice president and director of liability management for the bank. Niles has also served as president and director of UnionBanCal Commercial Funding Corp., with prior stints as an investment banker with Lehman Brothers and Merrill Lynch.
Senior Vice President and Treasurer, Funding and Investor Relations
Timothy Bitsberger joined Freddie Mac as treasurer and senior vice president, funding and investor relations, in January 2006. He is responsible for the company’s debt and mortgage-funding programs, as well as equity, debt and mortgage securities investor relations. Prior to working at Freddie Mac, Bitsberger served as assistant secretary for financial markets at the US Department of the Treasury for four years. He worked on such issues as federal debt management, financial market oversight and regulation, federal credit and privatization, and state and local finance.
Dennis Sweeney is in charge of GE’s global treasury operations, managed from a base in Stamford, Connecticut, through regional treasury centers in Delhi, Tokyo, Dublin, Mexico City and São Paolo. He and his team provide forex and derivative execution, middle-office support, cash management, acquisition integration and inter-company funding/accounting to GE’s businesses worldwide. Sweeney is promoting GE’s proactive efforts as a corporate user of the SWIFT network. He has also led the initiative by the International Bank Compensation Group to create a new international bank billing standard.
Christopher F. Donus
Assistant Treasurer, Corporate Finance
Christopher Donus oversees the entire debt portfolio at Hertz, which consists of both asset-backed securities and corporate debt facilities. He is also responsible for rating agency relationships and capital planning activities. Donus joined Hertz in December 2005, coming from Lucent Technologies.
Executive Vice President
HSBC Bank USA
Michael Gallagher takes responsibility for HSBC’s payments and cash management and bank notes services in North America. He is also global head of the institutional payments business within Global Transaction Banking. Gallagher, who brings more than 20 years of transaction banking experience, joined HSBC in 1997 as a senior vice president, head of corporate and institutional sales. Prior to joining HSBC, he held a variety of senior positions at CoreStates Financial Corp. in Philadelphia, Tokyo and New York.
Head of Global Transaction Banking
Andrew Long manages Global Transaction Banking, whose products include payments and cash management, trade services, securities services and wholesale banknotes. Long joined HSBC in 1978 in the imports department in Hong Kong and subsequently worked in a number of positions throughout Asia. He continued his career in New York and the United Kingdom, eventually becoming head of operations and processing for the Asia-Pacific region in 2001 and chief operating officer for HSBC in the region in 2004.
President and Chief Operating Officer
JPMorgan Chase Treasury Services
Melissa Moore is responsible for the global day-to-day management of treasury services and oversees all aspects of product direction and delivery. Under her leadership, the business has earned recognition for delivering innovative treasury, cash management, liquidity, trade finance and information solutions, with annual revenue approaching $8.8 billion. Moore has garnered top industry rankings, such as first in ACH credit and debit ACH originations and number-one financial institution for US corporate liquidity for large corporate and middle market (treasury strategies). International awards include best at implementing cash management solutions in Asia and best liquidity solution provider in EMEA.
Susan J. Webb
Executive Vice President and Product Executive, Treasury Services Global Core Cash Management
On a global basis, Susan Webb is responsible for US dollar and euro clearing, multi-currency and foreign exchange payments, global ACH services and in-country treasury services for clients in Asia, EMEA and Africa. Within the United States she oversees deposit services, including currency and vault, disbursement and wholesale, retail and government lockbox services. Webb’s transformational approach is helping to reposition the bank’s core payments franchise as it moves to the next generation.
Pamela A. Carson
Senior Vice President, Global Treasury Management
As leader of KeyBank’s global treasury unit, Pamela Carson has seen her business unit achieve substantial growth since she took over her current responsibilities in 2005. Among recent accomplishments of her unit, she particularly cites the A+ rating by Phoenix-Hecht in automated clearinghouse, balance reporting, depository services and Internet services. Carson received a ranking by NACHA in the top 10 for ACH payments in 2005, following a volume improvement of over 20%. She has worked at KeyBank since 1992 in relationship management, product management and operations. She is actively involved in various environmental not-for-profit organizations in the Cleveland area.
Marsh & McLennan Companies
Alan Bieler is responsible for worldwide treasury activities for MMC and its subsidiaries, which provide global services in risk, strategy and human capital. Bieler started at MMC in 2001 as assistant treasurer and was appointed treasurer in October 2006. Before joining MMC he spent eight years at PepsiCo, where he served in a variety of positions, including director of corporate finance and director of international treasury. He has also worked at Cooper Industries and with GE Capital Corp.
Mark E. McDonough
Vice President and Treasurer
Mark McDonough was appointed to his current position at Merck in February 2007. His mandate includes developing policies for the company’s capital structure, treasury stock and debt, raising capital, directing investment of a $15 billion worldwide portfolio of marketable securities, and managing foreign exchange hedging activities. He is also involved in financing employees’ pension and benefit plans and directing the firm’s worldwide insurance programs. McDonough, who began at Merck in 1990, most recently served as assistant treasurer, Global Capital Markets, since 2004.
Group Tax and Treasury Director
Malcolm Cooper is responsible for the tax, treasury, corporate finance, business planning and insurance activities for National Grid. The group’s tax charge last year was about £600 million. On the treasury side, this includes the management of its £11 billion debt portfolio and the group’s funding, together with interest rate risk management, project finance and foreign exchange requirements. A major current activity has been the funding of KeySpan Corp. This transaction is expected to close shortly, after which the group debt will be around £20 billion. Cooper was appointed group treasurer for National Grid Transco (now National Grid) in 2002 at the completion of the merger between National Grid and Lattice Group. He became group tax and treasury director in 2006.
Donald E. Berk
Senior Vice President and Head of Product Management, Treasury Management Services
The Northern Trust Co.
Don Berk started his career at IBM, where he worked on the first PCs in 1984. After moving into banking at Wachovia, he joined The Northern Trust Company. He is now responsible for any product that the firm deploys into the global banking business, including US commercial banking, international banking and personal finance services products such as deposits, credit cards and loans. He is also in charge of all of the bank’s outsourcing solutions for item processing, lockbox and residential mortgage processing. In a technology initiative, he led the development and implementation of Northern Trust Treasury Passport, a web-based client platform that offers a customizable package of information reporting, image delivery and transaction initiation services.
Group Vice President, ERP Application Product Strategy
Chris Leone leads the strategic direction at Oracle for developing the applications that treasurers use worldwide. Oracle’s ERP applications range from financials, compliance and project management, to procurement, human resource management and corporate performance management. Leone drives the business requirements, the product roadmap and strategies. Prior to his role at Oracle, he developed enterprise software applications at PeopleSoft and Hyperion.
James G. Graham
Executive Vice President
James Graham serves a dual role at PNC, as deputy manager of corporate banking and business executive of domestic and global treasury management. Graham oversees a broad array of treasury management products and services for PNC, which is the seventh-largest treasury management provider in the United States and has a nationwide lockbox network. He is also responsible for PNC being the sole provider of CA$HLINK II to the US Treasury Department, which ties federal agencies, commercial banks, the Federal Reserve banks and the Treasury Department together through an electronic network.
Global Advisory Leader for Energy, Utilities and Mining
Fred Cohen is PricewaterhouseCoopers’ lead on the political risk management alliance with the Eurasia Group. The alliance was formed to help multinational organizations integrate political risk management into their overall enterprise risk management framework. Cohen works with top executives and board members of large organizations to help them understand political risk and how to incorporate political risk management into their business strategy and operations. He assists them with developing tools and techniques for monitoring and managing those risks, bringing more than 30 years’ consulting and management experience in financial risk management and financial reporting.
REI Recreational Equipment
Russell Paquette is treasurer of REI, a $1.8 billion national cooperative retailer of outdoor gear and clothing. Paquette is responsible for all aspects of REI’s corporate treasury, ranging from the investment portfolio, line of credit, enterprise-wide risk management and insurance, to banking structure, cash management operating platform, investment relationships and foreign exchange. Paquette is known for his determination to put REI’s innovative efforts at the forefront of the retail treasury world.
Carrie W. Teffner
Chief Financial Officer
Carrie Teffner is CFO at Sara Lee. She was elected an officer of the corporation in 2005. Prior to that position, Teffner served as vice president and treasurer, responsible for global treasury functions, which include cash management, pension investment, corporate finance and financial risk management. During her career at Sara Lee, she has held various positions, including assistant treasurer, chief financial officer of Champion Jogbra, vice president of administrative transformation and general manger of Sara Lee Business Services. Teffner is a member of the boards of directors of Girl Scouts of Chicago and the financial advisory board of DePaul University.
E. Kevin Moore
Vice President and Treasurer
Kevin Moore is responsible for managing Schering-Plough’s assets, external financial relations and investments for employee benefit plans. He also oversees the company’s risk management and insurance functions. Moore was elected to his present position in January 1996, after serving as staff vice president and assistant treasurer when he joined Schering-Plough in 1993. As treasurer, Moore brings to the position a broad finance background that encompasses both domestic and international experience. Over the past three years he has been responsible for raising more than $4.5 billion in the capital markets, which has been an important element in ensuring that the company had the financial strength and flexibility to support its turnaround.
President and General Manager, New York
Christian Dahlberg manages the New York branch of SEB, which serves the North European banking group’s core clients in the North American market. Clients include Nordic and German subsidiaries that conduct business in North America, as well as US corporations and financial institutions active in Northern Europe. Prior to his New York post, which he began in 2004, Dahlberg was client executive for client relationship management in Stockholm for SEB Merchant Banking.
Global Head of Cash Management
Erik Zingmark is responsible for SEB’s cash management offering, which today covers 16 markets. He is also a member of the Global Transaction Services Management Group. Zingmark has worked with cash management from the buyer’s, the intermediary’s and the seller’s perspectives, as cash manager and EMU coordinator at the Skanska Group and as head of cash management at ABN AMRO’s Stockholm branch.
Senior Vice President and Treasurer
Brian Breen joined Simmons in July 1996 and has served as vice president and treasurer since January 2002. As treasurer, Breen has led and directed the transformation of the treasury department into an industry leader, particularly in the area of working capital management. He has been an active member of the Simmons management team, engaged in various buy/sell enterprise transactions. The most notable transaction took place in 2003 and involved private equity firms Thomas H. Lee Partners and Fenway Partners.
President, Corporates & Treasury
Kenneth Dummitt’s corporates and treasury segment at SunGard delivers liquidity management, transaction management and integrated risk and performance solutions to a diverse customer base of corporations and financial institutions. The segment is made up of SunGard AvantGard, SunGard BancWare and SunGard Step. Dummitt offers guidance and leadership across the entire segment, based on a strategic vision of a comprehensive approach to enterprise liquidity and risk management. That holistic view is changing how companies and financial institutions approach collaboration and connectivity, both with trading partners and between disparate functions.
Head of Global Treasury
Rossini Zumwalt was appointed head of global treasury in 2005. She manages Symantec’s capital market, debt, foreign exchange, banking, treasury operations, corporate insurance and e-commerce functions. Since joining Symantec in 1994, she has completed a variety of key assignments; highlights include the establishment of a $1 billion credit facility, the execution of a $4.5 billion stock buyback, a leadership role in the evaluation and integration of more than 24 target companies and repatriation of $500 million under the American Jobs Creation Act.
Michael W. Connolly
Vice President, Treasurer
Michael Connolly has a wide range of responsibilities at Tiffany, where he has been treasurer since 1997. Connolly’s bailiwick covers treasury operations, such as global cash, debt and investment management, foreign exchange, hedging and banking relationships. He also oversees risk management and insurance issues. On the taxation front, he looks after global planning, domestic compliance and international customs duties planning. In 2006 Connolly was elected to the board of the Association for Financial Professionals.
E. Judd Holroyde
Senior Vice President, Head of Global Product Management and Delivery
Judd Holroyde is responsible for Wells Fargo’s global treasury management, consumer forex and trade product units. He also leads the overall global strategy of the Wholesale Services Division. His entire career at Wells Fargo, which began in 1997, has concentrated on looking at banking from the customer’s viewpoint. In 2000 he developed overall strategy and design of the end-to-end customer experience on the business Internet portal, in 2004 he established a panel of customers to provide experience feedback, and he has led product development to automate customers’ implementation of treasury management services.
Executive Vice President, Wholesale Internet and Treasury Solutions
Danny Peltz is responsible for Wells Fargo’s global treasury management services for corporate and commercial customers, overseeing a 750-member team of product, sales, technology and marketing professionals. As a 16-year veteran of Wells Fargo, Peltz has been at the forefront of the paper-to-electronic revolution. He developed and manages the Commercial Electronic Office portal, used by two-thirds of the bank’s commercial customers. Under his leadership, Wells Fargo has received recognition for its use of innovative technology in treasury management.