A recent survey of The NeuGroup’s bank treasurers showed a small but significant minority had added headcount recently, and none had lost FTEs. With any luck this will be a leading indicator for treasuries more broadly.
Banks are on the forefront of new regulatory compliance demands, including risk governance and oversight trends, and this may account for some staff build up to support ALCO and further expansion of board-level risk committees.
On the non-bank corporate front, we continue to see substantial migration of treasury staff from company to company. This is at least partly explained by treasury professionals having put in extraordinary efforts through the crisis and its aftermath and finding their best avenues for further advancement outside the companies they helped bring through.
It remains to be seen whether treasuries will be net ahead when the music stops on the current round of musical chairs, or whether doing more with less enables them to start afresh from a lower basis.