Multinational companies must have an effective treasury operation, but is it a core function that must be run in-house? The answer to this question was almost always yes, but it is increasingly becoming no.
Globally, around 400-500 multinationals outsource their treasury operations, typically to one of the three banks that dominate this market: ABN AMRO, Citibank and JP Morgan. The treasury outsourcing concept is 10-15 years old, but it has been slow to develop. Now there is more interest, driven by three key issues.
