Search results for

While many companies attempt to cut costs by simply moving work to an offshore outsourcer, the formula for reaping benefits by improving business process sourcing is much more complex, according to executives at a recent conference held by The Hackett Group, a business advisory firm.

The Association of Finance Professionals (AFP) has carried out a survey on Canada's finance professionals, asking 300 members of the finance community to rate the importance of treasury and finance-related issues. Below is a list of the top ten issues which respondents said were "important" or "very important" to them and the finance profession in Canada. How do they compare with your list?

State Street Corporation, the world's leading provider of services to institutional investors, has named Edward J. O'Brien as treasurer, effective January 3rd. O'Brien will have responsibility for oversight of State Street's balance sheet, liquidity and interest rate risk management activities worldwide and, in this capacity, will report to Edward Resch, State Street's Chief Financial Officer. He replaces Stefan Gavell, who has assumed a new role within State Street as global head of Regulatory Affairs.

Last week CF reported on how CFOs are becoming increasingly preoccupied with their company pension plans. A new vehicle launched today aims to help trustees and fund managers reduce inflationary risk.

US semiconductor company WJ Communications has appointed Ephraim Kwok to the position of CFO. Kwok was previously CFO of Summit Microelectronics, a privately held semiconductor company and Elantec Semiconductor, a public semiconductor company. Meanwhile, Norsat International, the US company that makes wireless communications equipment for the satellite and cable TV industries, has announced that CFO Troy Bullock is leaving to become CFO of a pre-IPO telecommunications company. He will remain on the board until February 28th and will provide assistance in the search for a successor.

Jet Airways looks set to make a February entrance into the capital markets in an IPO worth around $500 million.

US phone company Alltel has agreed to buy Western Wireless for $6 billion to expand its customer base in the West of the country and become the fifth-largest U.S. wireless carrier. Alltel, which primarily courts rural customers, said in a statement it would offer $9.25 in cash and 0.535 of an Alltel share for each Western Wireless share. Alltel said that in total it would issue about 60 million shares, pay $1 billion in cash and assume $1.5 billion in debt.

Companies in the financial services market are looking for a broader range of skills from corporate financiers, according to the results of the annual salary survey conducted by Robert Walters, the recruitment specialists. The global survey offers insights into both salaries commanded and current trends within each sector of the market, including corporate finance. Key findings are as follows:

Pinsent Masons has appointed Al-Harith Sinclair to bolster the firm's financial regulatory capability in London and nationally. The appointment comes at a time when financial regulation continues to sweep the UK and the demand for comprehensive and accessible regulatory advice surges.

Robert Dyrbus, 51, finance director of cigarette maker Imperial Tobacco has picked up a salary package of £1.5 million ? a substantial increase on his £1.3 million.

Telekom Austria has become only the second European corporate this year to announce its entrance into the bond market. The Austrian national telecoms company says it plans to launch a ?1 billion ($1.3 billion) bond issue in the near future. Citigroup, Lehman Brothers and ABN Amro have been appointed as joint bookrunners on the deal.

The challenges posed by financial reporting requirements were keenly felt during 2004 and the year ahead looks to be no different. Financial Executives International (FEI), the US body that represents some 15,000 CFOs, treasurers and controllers, has issued the following top 10 financial reporting challenges for 2005.