Cash management survey 2010: The new cash routes
Emerging markets have become a driving force of economic growth and the development of international trade, putting pressure on cash management banks to improve their global coverage. Laurence Neville reports.
IN THE AFTERMATH of the financial crisis it is universally acknowledged that emerging markets are the engine of global economic growth. Multinational corporates are unsurprisingly intent on tapping these rapidly growing countries – and as a result demand for cash management services has rocketed. How banks respond to this challenge could well determine their success in transaction banking for decades to come. Marilyn Spearing, global head of trade finance and cash management, corporates, at Deutsche Bank, ranked third globally for corporates in Euromoney’s cash management survey, says that expansion in emerging markets is now multinationals’ number one priority: "With GDP growth of up to 8% expected in major emerging markets – as opposed to less than half that in OECD countries – revenues will increasingly come from Asia and eastern Europe."