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Fabricating a Treasury Function from Scratch to Support an $18 Billion Business

Congratulations to GE HealthCare Technologies on winning the 2024 Gold Alexander Hamilton Award in Treasury Transformation!

By Meg Waters | December 18, 2024 at 05:23 PM

It’s not often that an $18 billion company spins up a treasury function from scratch, but that is exactly the challenge GE HealthCare Technologies faced when GE announced in 2021 that it would split into three separate enterprises. Ninety-five percent of treasury activities were centralized within the legacy GE organization. So as GE HealthCare launched itself as an independent business, treasury was a blank slate.

“At the time of the announcement, GE HealthCare did not have a dedicated treasury function,” says Aditi Agarwal, the global operations lead and chief of staff for treasury at GE HealthCare. “We had a one-year TSA [transition service agreement] with GE corporate, so that is the length of time we had to onboard a treasury team, establish new systems and processes, and make sure we could run our operations ourselves.”

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