By SIOW LI SEN

ONE of the outcomes of the financial crisis is a renewed appreciation of corporate treasurers - executives who typically beaver away out of sight and without the glamour attached to, say, the chief executive or top salespeople in a company.

According to John Laurens, HSBC's head of global payments and cash management, Asia Pacific, there's a renewed appreciation of corporate treasurers at board level.

Cash management is the lifeblood of any business, and companies have become more appreciative of the relationship with their cash management bank, he says.

The focus is more on security than yield.

'We see a lot of focus in companies on treasury processes and procedures, looking at counter-party risks and looking to make sure they have cash management solutions with banks they can rely on for the services they need,' Mr Laurens told BT.

HSBC, which has weathered the financial crisis better than most and did not accept any government bailout, has seen its cash management services soar.

Transaction activities are up 36 per cent from a year ago, according to Mr Laurens.

HSBC is the biggest cash management bank in Asia Pacific, providing services to almost half-a-million corporations, financial institutions and government bodies.

In 2008, the bank earned US$1.67 billion for payments and cash management.

Clients appreciate that HSBC continues to invest in product innovation in areas such as increasing the speed of transactions, Mr Laurens says.

A recent online survey found that 80 per cent of corporate clients said they had increased their focus on cash management services, which is logical given tighter liquidity.

Companies are looking to aggregate liquidity from their various subsidiaries to ensure optimal cash management.

HSBC is able to help companies manage 'trapped' liquidity around the region, Mr Laurens says.

For multinationals, Asian operations generally contribute more to liquidity, since this region has the strongest growth.

But many Asian countries also have exchange controls.

'Where exchange controls apply, we help companies utilise their cash more effectively. We have a plethora of solutions to help clients with regulations,' said Mr Laurens.

For instance, Singapore is a regional centre for many corporations, and they consolidate cash here.

HSBC helps them automatically sweep cash to, say, New York, where it may be required, and/or back to Singapore, according to demand.

This article was first published in The Business Times.