For Nicholas Hardy, his career in treasury started in a way familiar to many other treasury professionals: as an accountant.

Hardy successfully completed the chartered accountancy qualification, then relatively early on in his career, he was offered the opportunity to move into corporate treasury. He supported hedging activities and cash management for the Europe, Middle East and Africa region.

He was sponsored to study for corporate treasury qualifications, which he credits with “deepening my knowledge of corporate treasury management.” He then received the opportunity to manage the Asia-Pacific region, which gave him exposure to “managing a diverse, multi-cultural, multi-language and highly regulated region.”

In 2019, Hardy relocated to Hong Kong to establish a treasury center that would serve the Greater China region. Then, in 2022, he moved to Singapore to launch and expand an International Treasury Center to serve the group and build structures that create shareholder value.

LEADING TREASURY ACROSS THE ASIA-PACIFIC REGION

Today, Hardy is the Director of Asia Pacific Treasury at Marsh McLennan, which has an annual revenue of over $20 billion and employs more than 85,000 professionals who advise clients in 130 countries across the world. He leads a team of treasury professionals who are responsible for cash management, investment management, hedging activities and funding across the Asia-Pacific region. 

“We implemented an award-winning automated liquidity solution in the Asia region, which is laying the foundation for an in-house bank,” said Hardy. Building on this, the team is working to implement a liquidity solution for the Pacific region.

LIQUIDITY IS FRONT OF MIND

“One of the objectives of a treasury organization is to ensure that, wherever treasury has influence, the Group is getting the best deal possible on pricing for both assets and liabilities,” said Hardy. Given the shift in the interest rate environment, the focus of the team is to work with Marsh McLennan’s banking partners to minimize the margin on the company’s liquidity structures and negotiate better deals on interest rates. 

Looking at the rising cost of debt, the need to redeploy funds to the Group’s funding locations in a timely manner has never been greater. “Consequently, building a state-of-the-art liquidity structure to centralize Group funds is one of my key objectives,” said Hardy. 

NETWORKING AND MENTORING ARE KEY TO PROFESSIONAL GROWTH

Hardy credits, in part, his natural curiosity and desire to challenge himself to grow as a professional for his ability to stay up to date with trends and best practices in the field of corporate treasury. One facet of this is working closely with banking partners to stay current on solution offerings. 

Networking is also top of the list when it comes to active participation in his career growth. “I’m always looking to build my professional network,” he said. 

The value of mentoring in one’s career growth cannot be overstated. Hardy credits his mentors for the guidance and wisdom they’ve given him over the years. “I am very privileged to be mentored by leaders who are head of the house of their function,” he said. “They guide me on leadership and from a technical lens. I am deeply grateful for their time.”

SERVING ON THE APAC TREASURY ADVISORY COUNCIL 

It was Hardy’s current Group Treasurer who introduced him to AFP and encouraged him to join the APAC Treasury Council. “I’m thankful for the opportunity AFP has provided me,” he said. 

Of all the benefits that come from serving on the council, Hardy is most grateful for the global network of treasury professionals he has been connected to. In his remaining time on the council, Hardy said he hopes to continue to build his network and learn from the wide breadth and depth of his fellow treasurers’ experiences.

Learn more about the Asia-Pacific Treasury Advisory Council.