BOSTON, Nov. 3, 2011 /PRNewswire/ -- "As China becomes more of a dominant factor in U.S. companies' supply chain, corporate treasurers are facing a host of cash management issues in that market," says Julian Oldale, head of RBS International Cash Management Strategies. "Among those challenges are the impact of regulatory changes, transferring funds in and out of the country, and foreign exchange risk."
Dealing with these and other issues is the topic of a panel at the Association for Financial Professionals (AFP) Conference in Boston next week, featuring Julian Oldale and other RBS cash management experts discussing "Managing Your Money in China: What Every Treasurer Should Know."
The panel will take place in the Boston Convention & Exhibition Center on November 7 at 8:30 AM ET in room 107C.
"Treasurers of U.S. corporations that are either already operating in China or planning to go there need to know the latest cash management challenges in the region, from the macro and micro economic conditions to the foreign exchange considerations to the impact of the regulatory regime," says Mr. Oldale.
In addition to Mr. Oldale, the RBS executives participating on the panel include:
- Jin Kok Teoh, Managing Director and Head of Global Transaction Sales, Asia Pacific, who will provide a macro-economics update, including the latest regulatory changes in China and their impact on U.S. corporations operating there.
- Rose Lee Askin, Senior Vice President, Global Transaction Services Americas, Asia Coverage, who will describe the process of establishing a business in China, transferring funds in and out of the country, and local and off-shore financing.
- Wee Yong Goh, Director, Global Transaction Services Sales, Asia Pacific, who will explain key treasury issues, regulatory constraints on cash management and the main clearing systems in China.
- David Tente, Senior Vice President, Global Transaction Services Americas, International Payments, who will discuss mitigating the foreign exchange risk of Renminbi (RMB), the local Chinese currency; paying China suppliers in RMB; and RMB payment solutions.
RBS, which has been operating in China for over 100 years, is currently one of the top most active foreign banks in China. It can conduct business throughout the country without geographic restrictions, and offers a full range of banking services and products in investment and commercial banking, trade finance/cash management and treasury/risk management.
In May, RBS Citizens announced that it had introduced a streamlined payment capability that allows its commercial customers to settle third-party and trade-related payments in RMB. RBS is one of the first regional banks in the United States to be granted approval by the People's Bank of China to maintain an account in RMB.
For more information, please contact Davia Temin or Jim Daniels of Temin and Company at 212-588-8788 or firstname.lastname@example.org.
The Royal Bank of Scotland Group (RBS)
The RBS group is a large international banking and financial services company. Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Americas and Asia, serving more than 40 million customers. The Group provides a wide range of products and services to personal, commercial and large corporate and institutional customers through its two principal subsidiaries, The Royal Bank of Scotland and NatWest, as well as through a number of other well known brands including Citizens, Ulster Bank, Coutts, Direct Line and Churchill.
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