Profile: David Cromwell, Chairman of the Association of Corporate Treasurers.
‘My first job in capital investment appraisal consolidated my view that finance was where the action was,’ says David Cromwell, Post Office group treasurer, who is still convinced after 25 years with the Post Office. Cromwell, who has just been appointed chairman of the Council of the Association of Corporate Treasurers (ACT), joined the Post Office as a graduate finance entrant and became group treasurer in 1986. ‘My function as group treasurer means that I am close to the issues and problems that the ACT as the professional body has to address,’ he states.
His appointment comes as corporate treasury emerges as a separately identifiable profession reflecting a rapid change in the financial markets. ‘I am constantly dealing with problems for which the solutions have to be invented,’ he explains. ‘Treasury-related risk problems have a creative component, which the ACT shares. The association is also regularly consulted on its views across a wide spectrum of the City, legislation, regulation and control. This involvement in the leading edge changes on issues that affect our profession is extremely important and, I believe, adds considerable value to the end-outcomes of the proposed changes.’
The ACT is currently planning its direction and priorities with a view to the year 2000. Along with continuing the development of professional education for treasurers, Cromwell feels, ‘EMU is also engaging members, and we need to make sure that we can provide as much help and advice in this area as possible.’