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Dear Colleagues,

FTA Annual Congress program available – check it out!

FTA’s Congress Committee, events team and yours truly have been working overtime to bring to you a program which is the most non-financial corporate focused in years. In fact, it features a corporate case study in every session.  In a program true to theme of Progressive Treasury – Adding Value in the Business” there are a series of detailed presentations from treasurers on how they add value working alongside colleagues in the business.

Moreover, it features in plenary sessions two leading key notes who are former corporate treasurers and who have forged successful latter careers as ASX 50 CFOs before being promoted to their current roles as listed company CEOs. Both are still supportive members of our Association. These fine gentlemen are Mark Hooper FFTP, CEO Sigma Pharmaceuticals, and Peter Gregg FFTP,  CEO, Primary Health Care. Both will be able to provide insight into “making the transition from treasury to the c-suite” and a professional risk manager’s perspective on the challenges faced by Corporate Australia.

And fittingly, the facilitator of our opening morning will be the peerless Ticky Fullerton of ABC TV’s The Business.

We will be hearing from other thought-leaders in:

  • Prof Kevin Davis FFTP, Professor of Finance, University of Melbourne & Research Director, Australian Centre for Financial Studies (ACFS)
  • Paul Greunwald,  Asia-Pacific Chief Economist, Standard & Poor’s
  • Dr Lynn Wood, Professional Company Director and Trustee and Non Executive Director, IFRS Foundation
  • Paul Bloxham, Chief Economist, HSBC

Key congress topics and themes

Today is the first part in a series I will run on key 2015 FTA Congress topics and themes.

For me the recent Reserve Bank research suggesting corporate investment hurdle rates may be unnecessarily high raises the following questions.

  • What is the role for treasurer and in-house corporate finance teams in measuring and setting the weighted average cost of capital (WACC)?
  • What weight do you put on the past? How important is tax? To what degree is political and economic uncertainty dissuading risk-taking by Boards and executive management?
  • Can you (would you?) tell your board  / CFO if you considered hurdle rates of return may be too high and impeding value-accreting investments?

On Day 2 (Friday October 30) in a session developed by Marion Johnstone CFTP of CSR and Jonathon Hirst of Caltex, Tony Carlton, Course Director of Macquarie Applied Finance Centre will present on Corporate Finance – Hurdle Rates and Capital Structure. Tony will be joined by two CFOs who will provide case studies, one focussing on capital allocation, and the other focussing on the strategic use of financial strategy to create value.

As Tony writes, “Two of the key roles of the modern CFO are (i) guiding decisions on allocation of capital, and (ii) managing the capital structure to support corporate strategy. Treasurers support the CFO particularly on questions of risk, financial markets and in development and in implementation of optimal capital raising strategies.”

Out of this session delegates will get:

  • an understanding of recent developments in corporate finance theory and practice of capital allocation and capital structure, and
  • a greater ability to communicate to your CFO/business what capital allocation/capital structure means for your organisation

So here’s one of many reasons to attend FTA’s 2015 Congress in Melbourne, 28th – 30thOctober.

www.congress.ftasecretariat.com.au/

Free FTA Professional
Development Event  

Supply Chain Finance Update with Westpac Institutional Bank
(all – 12.15pm – 2pm at Westpac venues)

Perth               Tuesday 18th August 2015
Brisbane         Friday 21st August 2015
Sydney            Friday 28th August 2015
Melbourne     Friday 28th August 2015
(Yes Melbourne and Sydney are the same day!)

For more information on how to register,
please CLICK HERE.

Folks, it’s a free event with lunch for FTA members so come along and network, enjoy lunch and get an update on this very interesting financing technique including case study!

IMG_3757Other FTA news and events

Fundamentals of Treasury Operations Conference 

So you missed last week’s Conference in Sydney? Well it was a lot of fun.

Photos of the event can be found HERE.

Women in Treasury Networking Dinner 

A brilliant night was enjoyed on Wednesday night by two dozen women, and two lucky blokes called David – me and a sponsor who I will give more air time in future. The dinner, organised by members of the FTA Victorian Chapter, featured a career talk by Bronwyn Wellings FFTP, outgoing Group Treasurer of Oz Minerals and Chair of the FTA Victorian Chapter committee. In my discussions with attendees, it is clear to me that the gathering created a network for many of the women attending where one has not existed before. We plan to do more in Victoria and roll out this year in other States. If you are interested in helping organising an event in your local chapter please contact FTA’s Membership Administrator Jacqui Revell on 03 9863 7321.

Past event presentations and recordings 

Recordings of the webinar(s) Treasury Reporting to the Board and two prior webinars are available on the FTA website HERE.

All the best, David

David Michell CFTP (Snr)
CEO, The Finance and Treasury Association
david@ftasecretariat.com.au