Search
 

Subway Builds a Fast, Fresh Approach to Treasury

Congratulations to Subway on winning the 2024 Silver Alexander Hamilton Award in Treasury Transformation!

By Meg Waters | December 16, 2024 at 02:20 PM

Subway feeds millions of people, in nearly 37,000 restaurants across more than 100 countries, every day. When a new management team took over in 2019, the company was one of the world’s largest restaurant chains—yet, in many ways, it operated like a much smaller organization.

“For over 50 years, Subway was a privately held, family-run business that operated according to the specific needs of its ownership,” says Mike Vienneau, vice president of treasury. “Subway never established a centralized cash management function. We did have a group that we called ‘treasury,’ who were tasked with opening and closing bank accounts, keeping in compliance with KYC [know your customer] regulations, and that sort of thing. But cash management was spread throughout accounting.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.