The Trainer is a US consultant in Treasury with expertise in global cash management, cash forecasting, treasury technology, investments, debut, foriegn exchange and working capital management.
He is also former Chairman of the AFP and has served on several of the association’s committees. He holds a BA from University of Richmond, an MBA from Virginia Commonwealth University and the CTP certification from the AFP.
Prior to establishing his consultancy, David held various senior positions in corporate Treasury including Assistant Treasurer at EDS Corp (a $22 bn High Tech company with operations in 83 Countries), Director of Treasury at Fidelity Investments (a $14 bn revenue Mutual Fund company) and Assistant Treasurer at Holiday Inns (a $bn hotel chain with operations in 103 countries).
Among many client projects, he has:
Coordinated the establishment of a sovereign debt management system and cash management structure for an EM Country. The scope of the project included IMF, Bi-lateral and World Bank loans as well as the design and implementation of a national cash management system.
Engagement by a $17 bn MNC with operations in 123 countries to coordinate a banking rationalization; implement SAP Treasury, a TWS and install SWIFT Net. Improved efficiency; reduced bank accounts; reduced bank fees; and improved cash control.
Engaged by a PE firm on a $1bn “carve out” to establish Treasury: global cash, cash forecasting foreign exchange, investments, debt and working capital. Engagement included a TWS, SWIFT Lite, policies, procedures, systems, banking infrastructure and staff training.
For a $5 bn PE firm designed a Web based Treasury Best Practice survey as a timely, cost effective means to identify Foreign Exchange risk and cash inefficiency among 16 portfolio companies operative in 26 countries. Identified opportunity for a 35% improvement in daily cash availability and reduced risk by implementation of a formal FX program across all companies.
Implemented a physical cash concentration structure, cash forecasting program, In-House bank, TWS, coordinated a Bank RFP and established a FX program for a $3 bn MNC resulting in: 25% reduction in daily surplus cash and 95% cash forecasting accuracy.
Hired by a $22 bn MNC with operations in 83 countries with no formal cash management of FX programs. Led a staffing restructuring, designated physical cash concentration structure, implemented SWIFT Net, SAP Treasury, a TWS and a formal FX program, Reduced global staff from 17 to 9; 44% reduction in daily cash; improved control over FX exposures.
Designed and implemented a global cash management structure, Treasury work station and an In-house bank covering 83 countries that resulted in a $715 mm (44%) reduction in surplus cash, daily visibility of 94% of cash balances and 95% forecasting accuracy over 90 day horizons.
Designed and implemented a global in-house bank concentration and foreign exchange system for a $1 bn process outsources company with operations in 8 countires. Engagement included policies, procedures, systems and a bank RFP implementation. Investable cash improved by 45%.
Coordinated the implementation of a TWS, a Treasury Web Site and a Senior Management Dashboard in order to better leverage the delivery of Treasury tools and information. Within the ifrst year the Web Sites enjoyed over 9,000 monthly hits.