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They Make The Cash Flow

Treasurers are being thrust into the spotlight as Wall Street and their companies come to better appreciate the analytical tools they bring to the table

By Staff Writer | Updated on December 01, 2002

Eric H. Nietsch recently had to do something he never has had to do before in his six years as a corporate treasurer: He supervised the sale of a factory in Switzerland. At larger companies, real estate–whether in the U.S. or overseas–is typically outside the scope of a treasurer’s direct responsibilities, says Nietsch, treasurer of Greenwich, Conn.-based Blyth Inc., a $1.2 billion manufacturer and marketer of candles, home fragrances and giftware. When his company sold real estate in the past, the job fell most often to either the local business unit or the CFO–when it was a big enough deal.

But Nietsch predicts that this will not be his last foray into real estate. Why? Because CFOs simply no longer have the time to oversee such labor-intensive transactions, and because treasurers these days are increasingly involved in strategic development and execution at the business unit level. “The treasury function moved away from doing pure cash and debt management to more overall risk management,” says Nietsch. “It has taken on an international scope to optimize cash flow on a global basis.”

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