How is Tesco’s treasury department structured?
The aim of our treasury department is to be ranked within Europe’s top five and we are certainly moving in the right direction. Although Tesco’s overseas business has continued to expand during the last decade, our team still consists of 12 individuals, across four main activities. A four-strong dealing team runs cash management and foreign exchange for the UK and overseas operations. Regional treasurers act as the interface between Tesco as a corporate entity and its various subsidiaries, promoting the treasury agenda in each country where the group operates. A middle-office team handles systems, management information and analysis, and two staff are designated to look at more complex pieces of funding. Outside Tesco’s treasury, accounting, settlement and confirmations are handled by Tesco’s back office team. FX trading at Tesco is a mixture of liquidity hedging, goods for resale hedging and balance sheet hedging. Our liquidity hedging is primarily short-term as a result of mismatches
