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Mubadala Treasury wins key award

Abu Dhabi, November 16, 2011

Mubadala Development Company, the Abu Dhabi-based strategic investment and development company, last night won the Large Treasury Team of the Year award at the Association of Corporate Treasurers Middle East (ACTME) 2011 Awards.

The award recognises Mubadala across all treasury disciplines – cash management,
 corporate finance and funding, governance and risk management – for its sound treasury management, strong technical knowledge and ability, innovation in technology and systems, and its ability to build strong relationships with its bankers and advisors, said a statement.

Commenting on this prestigious award, Matthew Hurn, executive director Mubadala Treasury, said: “Mubadala is building a pioneering world-class treasury function that is raising industry standards while also improving the quality and effectiveness of our own organization. This is applicable across all our treasury disciplines, and in particular, the robust training program we have put in place for UAE nationals. I am delighted that the wonderful team we have brought together at Mubadala is being recognized for their excellent work.”

The Mubadala Treasury team has evolved and developed to meet the needs of a growing and increasingly complex organization, applying international best practice at all times. This is demonstrated by its continued focus on risk management, a key function that is strengthening and being shown greater appreciation by Boards of Directors across the
region.

As part of its contribution to building Mubadala’s institutional capability, Group Treasury is developing its risk management function along with other initiatives such as the diversification of the maturity and currency of its funding, liquidity buffers, an appropriate fixed to floating interest mix, the arrangement of pre-funding with certain debt, and the
matching as closely as possible of assets and liabilities. It also expects to expand its services in line with organizational requirements such as reinsurance, captive insurance, tax and hedging, the statement said. - TradeArabia News Service




Tags: Mubadala | Award | treasury | ACTME |

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