Lucent Technologies Inc.

With customers and subsidiaries in more than 80 countries, Lucent Technologies Inc.'s treasury wanted to manage the company's foreign exchange risk on a consolidated basis. That goal became a reality with Lucent's implementation of an in-house bank earlier this year. The in-house bank "has quite profoundly changed parts of the treasury jobs we do in terms of FX management and funding management," says Fred Schacknies, director of the in-house bank and financial risk management. "The team that does it day to day is looking at a different set of data and going through a different thought process."

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