Serono, the Swiss-based biotechnology group, has selected SunGard’s AvantGard for its central treasury operation in Geneva. AvantGard-Integrity will provide fully integrated treasury and risk management and a strongly enhanced platform for managing its financial assets, valued at $1.8bn at the end of 2004. Paul Wilkinson, treasurer of Serono, said: “We selected AvantGard to help improve the overall treasury management capability through more extensive risk management functionality and more complete coverage of financial instruments. Optimum management of both foreign exchange and financial assets was key to the project, which in turn demanded accurate and reliable valuations and compliance with evolving accounting and governance standards, all functionality that AvantGard provides.”
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.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.