1. The future of treasury?
David Swann
4 June 2010

2. A little about BAT… 180 countries 200+ brands Revenue £14bn
Profit £4.4bn
Net debt £8.8bn
Big, international and complex

3. Agenda Treasury: a brief recap
Centralisation: A key theme of the 2000’s

4. The move to centralise Transaction execution Decision making 2010 2000
Centralised
2010
Funding
Banking FX
Cash
Transaction
execution
2000
Decision
making
Decentralised

5. Agenda Treasury: a brief recap
Centralisation: A key theme of the 2000’s
The themes for the next ten years?
Stability
Decentralisation?

6. Next? Transaction execution Decision making 2010 2000 Centralised
Decentralised

7. Agenda Treasury: a brief recap
Centralisation: A key theme of the 2000’s
The themes for the next ten years
Stability
Decentralisation?
Funding and liquidity
Risk
Treasurers - where next?

8. A checklist for career progression
Do you really want it?
Organisation
Skills
Experience
Escape plan