The latest attempt by Tesco to learn from the mistakes that led to its profit “black hole” is to take the long overdue step of reorganising its corporate structure.
For the supermarket giant, currently being investigated by the Serious Fraud Office, this has involved the decision to separate out investor information from spin.
Until now, the investor relations team deferred, somewhat bafflingly, to the company’s PR department, rather than to Tesco’s financial leadership. As of 1st January 2015, the restructure will see the IR arm report to chief financial officer Alan Steward, while PR chief Rebecca Shelley will continue to lead corporate communications.
As independent retail analyst Nick Bubb told PR Week: “Yesterday’s UK management shuffle at Tesco raised several issues, not least why the Tesco IR department was previously under the control of the PR department rather than the finance director (what were they thinking?).”
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
As the May 25 deadline for Europe’s General Data Protection Regulation (GDPR) inches closer, many treasurers are being lumped with the task of ensuring their wider company is compliant.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
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