Ever since the global recession almost brought the world’s economy to its knees, the true value of a corporate treasury system has become evident to leading companies. The treasury function is one of the fastest growing and most promising financial fields, even though it’s a rare university that offers a program to support treasury as a career.
If you’re asking yourself how an important position like this basically didn’t exist as a job until the late 1970s, the answer is that no one really knows. Treasurers were highly respected centuries ago. They’ve had real influence in the governance of empires since the Middle Ages. But they have not sustained their popularity in the post-WW2 era.
It is only now, as economies become more global, that treasurers are becoming central to financial operations once more.
Pair this globalization trend with an astronomical increase in technical innovation, professionalism, and corporate mergers, and the stage is set for a slow but sure revival of the treasurer function.
Slow, that is, until the financial crisis of 2008 sped it all up. More than a decade later, the consequences of this period of global economic turmoil continue to manifest themselves in tectonic political shifts, newly enacted regulations, and rising corporate and consumer debt. Global debt will soon reach $250 trillion. That’s one of the most alarming issues that corporate treasury professionals around the world will have to face in the years ahead.
But numbers and percentages are abstractions, remote from day-to-day life. That’s why you will find all of the most important information about global debt and its effects on our world in this detailed infographic.