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Can You Bank on Your Bankers?

With credit availability limited and some financial institutions still on shaky ground, treasurers are sorting out which relationships can work.

By Richard Gamble | Updated on April 01, 2009

As large segments of the world’s banking system flirt with insolvency and require unprecedented bailouts, treasury staffs are operating on high alert and maneuvering delicately to test relationships on which they depend. Those relationships may be of long standing, but these days they’re anything but familiar.

“This turmoil is worse than I ever thought it would get,” says Greg Weigard, assistant treasurer at $10 billion Air Products & Chemicals Inc. in Allentown, Pa., and a 25-year treasury veteran. “I think bankers are trying to figure out what banks will look like going forward, what lines of business they will keep or sell, who will own them.”

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