How Gilead Sciences used a cloud-based treasury management system and SWIFT Alliance Lite2 to eradicate manual tasks in FX and cash management.
By Treasury & Risk Staff|August 20, 2013 at 08:20 AM
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Brad Vollmer: Well, our treasury ops team, which handles FX, cash management, capital markets, and planning, consists of eight people. For a company with a market cap approaching $90 billion, that’s a pretty small treasury staff. We have approximately 130 bank accounts with 18 banks in 30 countries. We have more than $3 billion worth of securities invested in money market funds, government notes, and corporate securities, both in the U.S. and offshore. We have $7.5 billion in debt, which includes a revolver and convertible notes, as well as straight debt. And our FX portfolio, which we use to hedge risks in 12 different currencies, is worth $4 billion. So the treasury ops team needs to be very efficient.
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