New Apple HQ and Large List of Project Priorities Lead tMega Agenda

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New Apple HQ and Large List of Project Priorities Lead tMega Agenda

The new Apple Park headquarters may steal the show, but there’s plenty to discuss.
 
When the Treasurers’ Group of Mega-Caps meets on September 27 at Apple Park – the company’s iconic new headquarters – it is likely that the host facility will steal the show. However, there’s much more on members’ minds than stylish new digs, as we plan on discussing projects ranging from cyber-event recovery strategies to WACC/hurdle-rate calculations and payment fraud controls to preparations for the end of LIBOR. 
 
Updating the group on US tax reform and preparations for its various contingencies remains an agenda item, but progress in Washington is still signaling that more time is needed for the necessary details to emerge to form a real planning picture. The consensus at the last meeting of a messy outcome, if, indeed, there even is one, appears correct.
 
Interest rate risk management, including hedging and rethinking the fixed/floating mix of the debt portfolio (and the rest of corporate capital structure) is also top of mind. We are in an unusual rate cycle, and the normal rule books may not apply. Plus, multinationals have diversified their debt mix to a much larger degree, so swap books (both interest and currency) have ballooned. Managing derivatives as new market regulations bite, with treasurers contemplating much larger exposures to counterparties, give added cause for review. These and other issues put a focus on what treasury should do as corporate objectives concerning interest rate risk management are redefined by the uncharted nature of today’s global rate environment.  
 
Finally, following last meeting’s discussion of greater use of data and data analysis, empowered by ongoing digitalization of treasury and the people and technology supporting digital transformation, we will look at how treasury and the FP&A function are interacting and opportunities to work together proactively to harness change to benefit risk management, planning and forecasting. 
 
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