What's Neu - News from the The NeuGroup Network of Peer Groups

Blog entry
By mkmoore, March 27, 2014

The AT30 will discuss developing treasury staff and the path to the treasurer’s office at their meeting.

The Assistant Treasurers’ Group of Thirty (AT30), now in its third year, will meet on May 6-7 in Princeton, NJ, at the offices of Bristol-Myers Squibb. Sponsoring the event will be HSBC, a long-time NeuGroup partner.

The group has developed an agenda that focuses on advancing treasury’s skill set, career path and perceptions by other departments. Developing the treasury staff is a goal for any responsible leader. That task can be a challenge when the team members are a mix of devoted treasury practitioners and the generalists dropping in for a year or so to check off the treasury box on their way up a broader career path.  AT30 members will discuss and share their approaches to staff development.

But for dedicated treasury professionals, the eye is on the ultimate prize of the treasurer title. A meeting session will address the “path to the treasurer’s office,” as described by featured guest speakers, the treasurers at General Motors and Honeywell.  These speakers will tell the story of their own careers, what they would expect in a successor, and advise members on how they should prepare for that opportunity when it comes, in addition to fielding questions from members.

Aside from the staff and the AT, many also see value in training other groups about the role and value of the treasury department and have developed programs specifically for that task. A meeting session will feature one or two members who will share their program and the benefits they derive from it.

Currently, the AT30 has reached its membership capacity, therefore The NeuGroup is looking to start a second group for assistant treasurers. If you would like more information about this initiative, please click here to contact Bryan Richardson, Senior Director of Peer Knowledge Exchange, and the leader for the AT30 and AT30-2.

The NeuGroup provides leading peer knowledge exchange and intelligence for treasurers through its iTreasurer publication and The NeuGroup Network of 16 member groups serving more than 330 treasury and finance professionals across functions, industries and global regions.

Blog entry
By jneu, March 27, 2014

The NeuGroup for treasurers of US regional banks will be meeting for its tenth annual meeting on May 14-16 in New York. Topping this year’s agenda again will be an update on bank regulation impacting US banks and the on-going lessons from stress-testing and capital plan submissions for larger regional banks and the downstream stress-tests and capital plan scrutiny for banks under $50B in total assets.

The Fed’s recent release of results from the Dodd-Frank Act Stress Test (DFAST) and latest Comprehensive Capital Analysis and Review (CCAR) make this a timely topic for all participants. And the ongoing rollout of interagency rules on liquidity (e.g., the Liquidity Coverage Ratio) as well as capital and the Volcker Rule make this meeting a valuable opportunity to share notes on interpretation and impact of new guidance with peer practitioners and leading experts.  

Morgan Stanley will be sponsoring the meeting this year. David Russo, Morgan Stanley's treasurer, will kick-off discussion with member treasurers of the organizational, staffing, compliance and governance infrastructure changes that CCAR banks have been making to cope with stress-testing and related governance frameworks required by prudential regulators. Participants will also address the systems, models and data lessons from the stress-tests and interaction with regulators.

The NeuGroup and the Bank Treasurers’ Peer Group members look forward to working with Morgan Stanley to continue the successful 10-year track record of this annual event.

The Bank Treasurers’ Peer Group (BTPG) was founded in 2005 to provide a select group of US regional bank treasurers with the opportunity to share experiences, benchmark common practices and seek solutions to shared challenges. The BTPG is one of 16 groups in The NeuGroup Network.

Blog entry
By mkmoore, March 24, 2014

Increases in US interest rates are all but certain, with the debate being one of timing and size. A number of financial experts feel the actual pace and magnitude of these rate increases may not be as aggressive as the current forward rate curve implies, leaving treasurers to decide is it better to issue fixed debt and swap to floating, stay fixed, or stay floating?

The Treasurers’ Group of Thirty (T30) will discuss this topic in a roundtable session at their upcoming April meeting. The meeting is hosted and sponsored by Standard Chartered Bank in New York.

As a member of our exclusive treasurers’ peer group, members gain access to proprietary research and interact with like-minded executives from across industries to exchange knowledge on member-selected topics. The members set the meeting agenda and drive all pre-meeting research. The twice-annual meetings allow for confidential discussions. Members also control access to the group by voting to approve new members.

The NeuGroup provides leading peer knowledge exchange and intelligence for treasurers through its iTreasurer publication and The NeuGroup Network of 16 member groups serving more than 330 treasury and finance professionals across functions, industries and global regions.

Blog entry
By mkmoore, March 19, 2014

New name. New logo. Same "Intelligence for Treasurers."

This month we celebrate the 20th anniversary of International Treasurer. To mark the occasion, we have updated the name and logo to “ iTreasurer” to align with modern times and to be ready for the next 20 years of intelligence for treasurers.

Click here to read Founder and President Joseph Neu’s thoughts on the evolution of iTreasurer and the role of treasury.

In 1994, Joseph saw the need for a publication that focuses on the unique informational and practical application needs of treasurers. One thing stays the same, our original mission statement, published in the very first issue, is still our guiding principle 20 years later:

International Treasurer’s mission is to provide you with the information and analysis you need to succeed at one of today’s most demanding corporate functions: international treasury.

The role of treasury has continued to expand with corporations globally, across business functions, into new risk categories and beyond core treasury responsibilities. The original mission statement has guided the development of additional resources for treasurers, including short courses, roundtables, websites, and special surveys and reports.

Ultimately, this evolution culminated in the formation of The NeuGroup Network, with 16 peer groups and more than 330 members. Today, as iTreasurer, we emphasize the same type of intelligence we have provided treasurers for 20 years and that we will continue to provide into the future.

Click here for a timeline of the events and coverage that have shaped treasury for the past 20 years.

iTreasurer is the publishing and information outlet for The NeuGroup. For 20 years treasury professionals have relied on iTreasurer’s perspective on what’s important to treasury. It is the only treasury publication that draws on the expertise of leading treasury practitioners who are members of The NeuGroup Network. These in-depth interactions with leading treasury professionals are the basis for articles, news and case studies that are specifically meaningful to treasury best practice. www.iTreasurer.com

Blog entry
By jneu, March 07, 2014

The NeuGroup's flagship publication celebrates its 20th birthday today.

International Treasurer first appeared, 20 years ago today, on March 7, 1994. Launched from an apartment in the upper east side of Manhattan, this newsletter began its mission to provide information and analysis that treasurers need to succeed in one of the most demanding corporate functions. Fulfilling this mission, International Treasurer has delivered focused and often unique insight on events and trends impacting treasury over the last two decades.

It all started with the derivatives losses impacting Procter & Gamble et al and has continued with the reform of OTC derivatives markets in the wake of the 2008 financial crisis. International Treasurer covered the impact of the birth of the euro and it is now helping treasurers understand the effects of an international RMB. 

As for trends, International Treasurer has looked repeatedly at the changing nature of treasury organization and treasury management practices, including the role of treasury and the expanding strategic responsiblities of almost every treasurer. IT has explored how banks and other financial service providers are evolving and the products and services that are helping treasurers most. 

International Treasurer has also made sense out of how information technology has been transforming treasury, from the days of basic client-servers overtaking mainframes to the birth of the internet and web-based services in the cloud.

Our two decades of perspective only serve to reinforce the original mission.

What makes International Treasurer truly unique, however, is our privileged position in leading peer knowledge exchange among the talented treasury professionals and service providers in our network. Your insight combined with ours creates extremely valuable content. 

We hope you get out of it much more than you give.

To all who have contributed, subscribed, read International Treasurer or passed it along - thank you!     

Visit iTreasurer.com to learn more, starting with a look at our very first issue here.

Blog entry
By mkmoore, March 05, 2014

The NeuGroup Network’s Foreign Exchange Managers’ Peer Group 2 (FXMPG2) will be joined by sponsor Thomson Reuters at the winter 2014 meeting, which will be hosted by member Micron Technology in Boise, ID, March 17-18.

Thomson Reuters, and earlier under its FXall banner, has sponsored several meetings of the two NeuGroups for MNC foreign exchange managers, most recently the September 2013 meeting of the FXMPG2, and before that, in 2011.

“Thomson Reuters is continuing its support of The NeuGroup Network, with a focus in the FX space and has contributed to valuable sessions on topics related to derivatives regulations and e-trading. The company brings deep knowledge of how FX trading platforms can streamline corporate hedge activities and after the integration into Thomson Reuters’ other service offerings, it has the broad foundation to serve our members’ information, trading and analytics needs as they grow in important markets globally. It is with pleasure we collaborate again with Thomson Reuters in conjunction with the winter 2014 meeting of the FXMPG2,” says Anne Friberg, Senior Director of Peer Knowledge Exchange and NeuGroup leader of FXMPG2.

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals, combining industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world’s most trusted news organization.

The NeuGroup’s FX Managers’ Peer Groups (FXMPG1 and FXMPG2) bring together senior treasury professionals with responsibility for corporate foreign exchange management to share experiences and best practices with their peers. FXMPG1 and FXMPG2 are part of 16 NeuGroups representing more than 330 members at 180+ companies. For twenty years, The NeuGroup has been a leader in peer knowledge exchange.

Blog entry
By mkmoore, March 04, 2014

In a NeuGroup Network member conference call last Friday, The NeuGroup brought together members from its Treasurers’ Group of Thirty (T30) 1, 2 and 3 to share notes on how to respond to the latest developments in Venezuela.

“A T30 member asked for guidance in planning around the new FX regime and the challenges for doing business in Venezuela,” noted NeuGroup Director, Geri Westphal, who leads the T30 groups. “Within a few days, we had members from multiple NeuGroups on a conference call developing a consensus on how best to respond to the situation.”

NeuGroup Senior Director Anne Friberg also participated on the call, along with select members of the Latin American Treasury Managers’ Peer Group, which discussed Venezuela at their meeting in late January, to offer additional insight.

The overwhelming consensus from those on the call was that despite the recent unrest and new challenges for accessing foreign exchange, their intent is to remain in Venezuela for the long haul.
This crisis response call on Venezuela represents just another benefit for members of The NeuGroup Network. Click here to learn more.

The Treasurers’ Groups of Thirty (T30, T30-2 and T30-3) bring together treasurers from large corporates across sectors to benchmark common practices and share their knowledge and experience. The Latin American Treasury Managers’ Peer Group (LATMPG) similarly caters to professionals from multinationals responsible for managing treasury in the region. The NeuGroup has been a leader in peer knowledge exchange for 20 years.

Blog entry
By mkmoore, February 03, 2014

The NeuGroup is pleased to announce a new partnership with Thomson Reuters.

With access to Thomson Reuters Eikon, the firm’s financial markets desktop, NeuGroup leaders will look to use its powerful mix of news, analytics and financial content in conjunction with content for International Treasurer, The NeuGroup’s flagship publication, iTreasurer.com and relevant research material for NeuGroup Network members.

In addition, The NeuGroup will help its members get more from Eikon and provide input to Thomson Reuters so they can better meet the needs of NeuGroup members on the platform.

Thomson Reuters Eikon is designed to provide a powerful and intuitive next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. It realizes Thomson Reuters’ vision for a financial markets desktop that is connected, informed, and intelligent and open, providing access to a messaging community of over 200,000 financial professionals.

“While The NeuGroup is principally about serving the needs of practitioner members through leading peer knowledge exchange, we also seek to help them by helping their key service providers to serve them better,” notes Joseph Neu, Founder and CEO.

“We are pleased to be working with Thomson Reuters in conjunction with this partnership, as a meeting sponsor and, most importantly, as a member company in The NeuGroup Network,” Mr. Neu added. “This relationship uniquely bridges our dual mandate to serve member finance practitioners: both directly and by working with like-minded providers to serve our members better.”

FXall, the leading institutional electronic trading platform for foreign exchange, which Thomson Reuters acquired in 2012, co-sponsored The NeuGroup’s FX Managers’ Peer Group 2 meeting last September. This meeting was hosted by The NeuGroup member on the Thomson Reuters treasury team responsible for FX management.

“Thomson Reuters is glad to be expanding its relationship with The NeuGroup and is excited for The NeuGroup Network membership to see the FX and cross-asset workflow benefits of Thomson Reuters Eikon. This is part of our ongoing commitment to the corporate treasury sector for which we are delivering innovative solutions in Thomson Reuters Eikon and FXall,” said James Kwiatowski, Global Head of Sales, FX, Thomson Reuters.
The NeuGroup provides leading peer knowledge exchange and intelligence for treasurers through its International Treasurer publication and The NeuGroup Network of 16 member groups serving more than 330 treasury and finance professionals across functions, industries and global regions. This includes the FX Managers’ Peer Group 2, founded in 2004, which, with its sister group, serve as the premier forums for heads of corporate foreign exchange management.

Blog entry
By jneu, January 29, 2014

Key milestones on the road to developing the first-ever member peer groups for treasury and finance.

To mark the 20th anniversary of The NeuGroup, we have been digging through our archives to recall the publications, meetings and web tools that led to the creation of the first and longest-running membership peer groups for treasury and finance professionals. These key milestones are highlighted on a web timeline at neugroup.com/timeline. We will be adding to them over the course of the year.

In addition, we have been reaching out to some of the people who have been part of these milestones to thank them for being with us along the way and to share their memories (please feel free to reach out to us, too).

The Road to NeuGroups

To help orient you on the timeline, here are some of our key milestones on the Road to NeuGroups:

  • March 1994: The first issue of International Treasurer was published.
  • December 1996: Our first small, interactive meeting with treasury professionals: The Global Treasury and Financial Risk Short Course. After starting the International Treasurer newsletter, we realized that more personal, face-to-face interaction was needed to best tackle topical issues, benchmark common practices, generate ideas and find solutions to common challenges. Our first seminar included several topics—evolving organiza­tional issues for global treasury functions, international tax considerations, exposure identification and management, and enterprise risk management—that still resonate today.
  • August 1997: Over the summer of 1997, we combined the two ideas of interactive meetings and published content with a panel of treasury practitioners to discuss preparation for European Economic and Monetary Union (EMU) that led to a three-part supplement sponsored by The Chase Manhattan Bank and PeopleSoft. Round two of this project led to a series of panels conducted in Atlanta, Boston, Chicago, New York and San Francisco, culminating in a special report on Building a Platform to Launch Euro Business Strategies.
  • November 1998: Leading peer knowledge exchange on topical issues was again the center of our efforts to help finance professionals prepare for FAS 133, a transforming new hedge ac­counting standard. Beginning in November 1998 through 2000, we engaged with leading practitioners to help them assess the impact of FAS 133 via roundtables and small seminars, publishing Best Practice Guides, conducting conference calls and ultimately harnessing the web to launch FAS133.com, a first-of-its-kind web briefing service to help corporates understand and implement the new hedge accounting guidance.
  • October 2001: With a Halloween opening reception, the Tech20 became our first member peer group. By 2000, we were conducting regular roundtables on topics ranging from trea­sury’s use of technology to shared service centers. Focused, interactive meetings with leading peer professionals, facilitated by a trusted organization familiar with their cur­rent issues, were consistently well received by world-class treasury and finance professionals. This led directly, thanks to the support of a select group of top tech treasurers and UBS, to the launch of the Tech20 Treasurers’ Peer Group, which validated our member­ship peer group approach and served as a model for the many NeuGroups to follow.

Today, The NeuGroup Network offers our 330+ members the most relevant groups (16+), the greatest variety (cutting across sectors, finance functions and global regions), and the longest-running targeted treasury and finance groups available. Over two decades, we’ve never stopped enhancing the experience for leading finance professionals, from publications to web-based intelligence ser­vices to peer groups—and we don’t intend to stop now.

Again, join us at neugroup.com/timeline to walk through the last 20 years, and how this history helps us offer intelligence and insight to treasury and finance professionals today with two decades of perspective on leading peer knowledge exchange.

Blog entry
By mkmoore, January 21, 2014

The NeuGroup Network’s Asia Treasurer's Peer Group (ATPG) will be joined by sponsor Standard Chartered at the 2014 Second Meeting.

Standard Chartered has sponsored multiple NeuGroup Network meetings through the years, and we are thankful for their continuous support and valuable contributions. Most recently, Standard Chartered has participated in our Global Cash and Banking Group (GCBG), T30-2, and FXMPG.

“Standard Chartered's advisory approach to client engagement has been well received by our members, and we look forward to their valuable insights in our peer group discussions in the upcoming 2014 meeting. They are well positioned to serve our members’ needs as they grow in important emerging markets across Asia and, increasingly, Africa. We are delighted to be working with Standard Chartered again,” says Bryan Richardson, Senior Director of Peer Knowledge Exchange and NeuGroup leader of ATPG.

Standard Chartered is a leading international banking group committed to building a sustainable business over the long-term. It has operated for over 150 years in some of the world's fastest-growing markets, and aims to lead the way in Asia, Africa and the Middle East.

The Asia Treasurers' Peer Group - Singapore was founded in October 2011 for regional treasurers of large MNC’s with treasury operations in Asia. As the first NeuGroup in Asia, we expect it to be the catalyst for other Asia-based NeuGroups to serve our members in the region.