Last week marked the first time that The NeuGroup led three group meetings simultaneously. And one of these meetings, the pilot for our Assistant Treasurers Group of Thirty, represented the successful launch of the 15th group in the NeuGroup Network. That's two significant milestones to end the summer.
A quick recap of the three meetings
Our FX Managers’ Peer Group 2 met in Silicon Valley with Chatham Financial sponsoring and shed additional light on the end-user exemption from Dodd-Frank derivatives clearing requirements and the related ISDA Protocol. The Global Cash and Banking Group met outside Dallas with J.P. Morgan sponsoring and elevated members’ realization of the impact new bank regulations will have on their banking services and product pricing. This was also a theme at the Assistant Treasurers’ Group of Thirty meeting sponsored by Citi in Armonk, NY. AT30 practitioners for the most part have not felt the impacts yet, and several reported some counterintuitive recent pricing reductions based in part on competing bank liquidity needs in the near term. Over the medium to longer-term, however, the expectation should remain that the adverse consequences of Basel III, Dodd-Frank and related financial reform efforts across the G-20 will eventually make it harder for banks to deliver the same level of service at pricing levels MNC treasuries have grown accustomed to.
Another issue the AT30 shared with the Global Cash and Bank Group was cash forecasting, which is getting a new round of interest from firms facing pressures on free cash flow as well as companies looking to deploy new analytics applications to the perennial problem of improving accuracy without overburdening human staff across the enterprise. Freeing up human resources was also a key reason why enhancing treasury technology was a discussion point across all three groups.
Of course, this just scratches the surface of what was discussed at these three NeuZGroup meetings last week. We thus want to thank the participants from all three groups for their open discussion and engagement along with the representatives from the meeting sponsors. Your efforts made these simultaneous meeting and network expansion milestones possible.