This is a YouTube video titled "How is the treasury market at the end of 2024" containing a monologue by Mike Richards recorded in August 2024. Mike Richards discusses the state of the treasury market, emphasizing its recession-resistant nature, staffing challenges, seasonal activity variations in Europe and the US, and trends in senior-level turnover post-Covid.
Been asked it a few times and I'll just. I'll repeat the question, I'll repeat the answer I've given. Treasury isn't recession proof, it's recession resistant. In an upturn. In a downturn, you still need your treasurer probably more so than ever sometimes look at the bank sheet and everything else instead of. It might become more recruit to replace rather than recruit for a new project and things like that might mean that you. What's the word? So if someone leaves in your team, you might have to cover it yourself, but then a second person leaves, you need that person. You can only stretch so far. But treasury teams are lean and mean. They are that. You don't have 20 people in an upturn. When you say, oh, actually we need to implement the system or we need bring an AI or we need to do this new takeover. Yeah, let's hire 10 accountants. You don't get someone ever calling me, it's an upturn. We need 10 treasurers, please. Doesn't happen. Treasury walks that midline sort of thing. In terms of just now, as of today, as we got into the summer, a lot of people. There are quite a few people taking vacation breaks and things like that. The market itself is quieter. Europe, for instance, closes down. The UK has been quite busy. Europe, that's it. They closed a lot of the factories, the stuff. All spending stops. Yeah. August is dead across Europe, but US continues. But does you see slowing down and then it starts to pick up come September, October. Yeah, it gets much busier. That's. And then we're off to AFP as well. Yeah, there's a they're busy time sort of thing. So, yeah, treasury itself, it continues thing. They're the very senior level, your level, that hasn't been that much. Spoken to a few treasurers and they were like, oh, why is this? People have delayed retirements post Covid. Now we're starting to see people are moving along, which is a good thing. Some of them needed to move along and now we're starting to get back to normal sort of things, this steady turnover. But it's not boom, it's not bust, never will be in Treasury.
