"In an evolving banking environment, Redbridge’s market knowledge and expertise have enabled us to select the partner that most closely meets our specifications. "
Mission
- Implementing cross-border and notional multi-currency cash pooling
- Twelve European countries, seven currencies
Objectives
- Secure and centralize liquidities
- Optimize the related financial conditions
- Increase organizational efficiencies
- Maintain existing local banking relationships
- Limit the impact of regulatory and banking constraints (collateral, Basel III, etc.)
Results
- One overlay partner selected to manage cross-border and multi-currency notional zero balanced account (ZBA)
- Optimized and simple conditions to follow in the event of expansion of the cash pooling’s scope
- Well-structured operations
Methodology
- Account mapping and treasury positions
- Definition of a long-term target architecture
- Request for bids in two rounds to select the best partner
Redbridge’s Added Value
- Knowledge of bank capacities and points of vigilance to be studied in depth:
- Exact functioning of netting in each country
- New restrictions related to Basel III regulations
- Return on the multi-currency notional loop
- Legal and contractual commitments
- A multi-team collaborative plan (Finance, Project Management Service, Legal, Accounting, Tax) for five months
- Project pacing and schedule management