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When she talks about her 13 years at General Motors Corp.’s treasury department, E. Follin Smith, CFO of $12.5 billion Constellation Energy Group Inc. in Baltimore, has no shortage of impressive

jobs to describe. Before she had reached the age of 30, Smith had already sat on the board of a high-tech company in which GM owned an interest; she managed GM’s cash investments, debt issuance and interest rate exposure hedging; and she was put in charge of GM’s corporate “red book,” the finance committee’s presentation to the board on complex business situations the company faced. Add to that initiating a credit card project, and you get the picture that a stint in GM treasury is a lot broader than at your average company. “It’s a lot more than what we think of as classic treasury,” says Smith. “GM is such a big business. You are working with the best people on Wall Street, the best advisers, and you learn a whole lot in terms of exposure.”

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