Deutsche Bank is to introduce a new cross-regional US Dollar (USD) Global Cash Concentration capability, automatically moving surplus end-of-day funds from USD accounts held in London and Frankfurt to Deutsche Bank Trust Company Americas, New York on a same-day basis. Conversely, the USD Global Cash Concentration service offers the facility to recall funds from New York to these European locations to cover deficit balances. This enables corporate treasurers to consolidate their USD into one single position, reducing dependencies on external credit lines and maximizing the value of surplus balances. Klaus-Bernd Schalkowski, Deutsche Bank’s European Head of Liquidity Management, Global Cash Management, said: “In response to client demand, Deutsche Bank chose to broaden its suite of liquidity management products to include USD Global Cash Concentration. Irrespective of the local time zone differences between source and target funding accounts, the USD Global Cash Concentration capability ensures that funds are available on the same business day.”
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.