Services

The Treasury Hub

In June 2018, RBK collaborated with Treasury Solutions to announce a new service offering “The Treasury Hub”, combining the experience and expertise of both our firms and three other advisory firms nationwide.

Treasury Solutions has been operating for 18 years offering a premium quality treasury advisory service to the medium and large corporate market.

The new service will provide clients of RBK with access to the technical knowledge and financial market intelligence of Treasury Solutions to enable them to offer new products and services to their clients and to deal with the impact on interest rates, foreign exchange and the banking market in general that will inevitably emanate from Brexit, geo-political developments, etc.

The services to be provided via The Treasury Hub include:

  • Debt funding by banks 
  • Debt funding by non-banks 
  • Interest rate risk management 
  • Foreign exchange management 
  • Liquidity management 
  • Cash management 
  • Ad hoc treasury issues 

The provision of the range and quality of these services under The Treasury Hub effectively brings additional expertise to the existing service offering provided to the clients of RBK bringing them an enhanced treasury management solution.

For more on The Treasury Hub, visit: www.thetreasuryhub.ie.

Team Members

Chris Ball

Corporate Finance Partner

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The Treasury Hub Update - April 2021 958.23 KB

Welcome to the fourth edition of THE TREASURY HUB Banking and Treasury Markets Bulletin of 2021. Domestically and internationally, there is increased focus on the speed of the vaccine rollout and, hopefully, a gradual return to normality.But the one sector that is looking anything but normal is the Irish banking sector with the announcement of the exit of KBC from the market. Following on from the Ulster Bank announcement the previous month, the SME and Business Banking offerings will be dominated by a duopoly of AIB and Bank of Ireland. The growth of PTSB and the non-bank providers will be crucial for the wider macroeconomic development of the country.On the currency front, the last week has seen USD retreat but GBP rebound. Both currencies are stronger against EUR since the start of the year. Although the cost of borrowing has increased for most governments in 2021, the move has stalled in Eurozone and UK but US rates continue to ease up as inflation prospects continue to be very actively debated (is it returning for the medium-term or just a temporary phenomenon?). Economic outlook for the US looks very positive at the minute.From an investment perspective, stock market trends are generally upwards again after some pause for breath. Coinbase was a high profile IPO in the US while the Deliveroo flotation in London was a disappointment. Finally, Section 5 covers interest rates, especially the spectre of negative deposit rates and considers if we can do anything to mitigate their impact.

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The Treasury Hub Update - March 2021 1007.78 KB

Welcome to the third edition of THE TREASURY HUB Banking and Treasury Markets Bulletin of 2021. It is 12 months since the first lockdown and the seismic impact on all of our lives. The changes required in the way we work have accelerated trends that had been emerging, but not all of it is negative. In fact, it could be a catalyst for a lot of positive developments. Of course, the impact has been very uneven – the hospitality/hotel sectors have been decimated while other sectors have thrived.

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Treasury Hub Update - February 2021 895.72 KB

Welcome to the second edition of THE TREASURY HUB Banking and Treasury Markets Bulletin of 2021. It has been a very active start to 2021 on all fronts – currencies have made some material early moves, interest rates are moving up, stock markets are a little jittery while oil has raced ahead again.

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Treasury Hub Update - November 2020 1007.37 KB

Welcome to the second last edition of THE TREASURY HUB Banking and Treasury Markets Bulletin of 2020. While the year may be closing out, we still have the “minor” matters of Brexit and, for those in the hospitality and retail sectors, the Christmas run in. On the currency front, USD continues to hold in a EUR/USD1.1630 to EUR/USD1.1930 range. On the other hand, EUR/GBP has trended lower (strong GBP) since mid-September in the expectation that a hard Brexit will be avoided. This is expected to come to a head next week. From an investment perspective the DOW is now in positive territory for 2020 having fully recovered all of its March losses.Against a backdrop of a reluctance to borrow more to get out of this economic slowdown, the Enterprise Ireland (“EI”) Sustaining Enterprise Fund (“SEF”) has gained a lot of traction, primarily due to the inclusion of a grant element of up to €200k (or 50% of the total amount sought if this is less than €400k). One of the aspects of this process is that the relationship with your EI Development Advisor can be important. Similar to your banking relationship advisor, it may be beneficial to spend some time in 2021 with them in improving their knowledge of your business.Finally, section 5 in this month’s bulletin takes a look at Budget 2021 Considerations. Preparation of 2021 budgets should include some level of strategic business review for many companies.

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Treasury Hub Update - October 2020 1.28 MB

This is the October edition of THE TREASURY HUB Banking and Treasury Markets Bulletin. 2020 has been a unique year for our country and society as a whole, but it has also had significant repercussions for business, banking and financial markets to date.On the currency front, the USD settled down to a range of around EUR/USD1.175 having materially weakened over the course of the summer. From an investment perspective, while all three equity indices that we track (ISEQ, FTSE and DOW) are still down in the year, the DOW is close to recovering to where it was at the start of 2020. On the Brexit front, talks are set to continue after insufficient progress was made in negotiations, thereby passing the mid-November deadline. Both sides continue to insist that a deal is possible. It remains to be seen whether we are witnessing the move to a hard Brexit or political statements being made for political purposes ahead of some level of compromise. What is clear is that a material number of Irish food companies remain very exposed to a hard Brexit with likely severe consequences for their profitability should that scenario materialise.

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Treasury Hub Update - August 2020 884.07 KB

This is the Summer edition of THE TREASURY HUB Banking and Treasury Markets Bulletin.On the currency front, the biggest mover has been the USD which has weakened considerably over the Summer and broken out of a downward (i.e. strengthening dollar) range that existed for almost two years.From an investment perspective while all three equity indices that we track (ISEQ, FTSE and DOW) are down in the year, the DOW is close to recovering to where itwas at the start of the year. The NASDAQ has continued to power ahead to new highs with Apple now valued at $2 trillion.On the Brexit front, UK/EU talks have recommenced but no news to report as yet. October is the deadline for any deal as it would have to be approved by all EU governments individually.It is likely there could be increased corporate activity in the remainder of the year, some negative (examinerships) and some more positive (mergers/acquisitions). Brexit will have a bigger impactthan is currently forecast as it could provide opportunities as well as threats. Banking will also become more challenging in Q4 as the banks could struggle to deal with the sheer scale of the intervention required for companies and sectors that will findthemselves challenged. Where possible, businesses should continue to avail of the financial planning grants from Enterprise Ireland and LEOs.

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