FiREapps Collaborating with Yahoo! Inc. to Present at the Association for Financial Professionals (AFP) Annual Conference
FiREapps CEO Wolfgang Koester, Yahoo! Inc. Director, Corporate Treasury Karthik Chandran and Vice President of Corporate Finance and Treasury Ron Will to Share Best Practices to Establishing Currency Risk Management Policies
SCOTTSDALE, Ariz.—October 22, 2007 FiREapps, the leading provider of Corporate Foreign Exchange Management Technologies, announced today that FiREapps CEO Wolfgang Koester, Yahoo! Inc. Director, Corporate Treasury Karthik Chandran and Vice President of Corporate Finance and Treasury Ron Will, will present together at the AFP Annual Conference in Boston, Mass., October 21-24. Koester, Chandran and Will will provide concrete steps to establishing currency risk management policies that minimize the economic loss associated with FX exposure.
Even though foreign exchange risk has become an increasingly major issue affecting corporations today, many corporate treasury and finance departments struggle to manage foreign exchange using obsolete processes and technologies such as manual data collection and spreadsheets.
“After conducting a recent study and finding that 97 percent of companies have minimal exposure management automation, the goal of this presentation is to increase corporations’ sophistication and awareness for effective currency risk management,” said Koester. “Having Mr. Chandran and Mr. Will of Yahoo! join me in this presentation will provide the audience with a true understanding of the challenges real companies face, and the tools and techniques that have proved successful in managing FX risk.”
Chandran and Will will talk about how Yahoo! has implemented successful and holistic currency risk management policies and processes to avoid unnecessary loss from currency fluctuations. Koester, Chandran and Will will also discuss setting and maintaining a corporate currency risk management policy, how to create a snapshot of foreign exchange exposures and potential impact of banking actions or currency changes. They will also address how to make timely optimal decisions based on established policies and current market conditions and how to establish achievable performance benchmarks to ensure measurability and accountability.
Topic: Establishing Currency Risk Management Policies and Reducing Exposures
Date: Monday, October 22, 2007
Time: 3:30 p.m. ET – 4:30 p.m. ET
Session #: 69 S
Session Room #: 259 AB
Boston Convention & Exhibition Center
415 Summer Street
To register: http://www.afponline.org/afpdb/store.html?DEPT=CONFERENCE
For session details: http://www.afponline.org/pub/conf/conf_planner/Sess/69.html
Wolfgang Koester is the CEO of Rim-Tec, Inc. which developed FiREapps, the leading provider of Foreign Exchange Exposure Management Technologies. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming Rim-Tec, Koester served as President with GFTA Trendanalysen Inc., a quantitative currency manager. Koester holds a Bachelor of Science from Arizona State University and a Master's Degree in International Management from The Garvin School of International Management.
Karthik Chandran manages strategic initiatives impacting Corporate Treasury at Yahoo! and oversees Treasury operations in Europe and Emerging Markets. Over the last six years he has shaped the Treasury function at Yahoo! while serving in a variety of roles. Chandran has an MBA from Auburn University and a JD specializing in International Law from Madras University, India.
Ron Will joined Yahoo! in 2004 and leads a team of 10 in managing the company’s worldwide treasury function. Prior to joining Yahoo! he spent over 12 years in investment banking at Merrill Lynch, Lehman Brothers and Bank of America, executing M& A and capital raising transactions. Will has an MBA from Dartmouth College and a BA from the University of Michigan.
FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of Foreign Exchange Exposure Management Technologies. The company provides technologies and services that insulate corporations from the uncertainty and volatility of foreign exchange. These solutions help customers mitigate economic and compliance risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona and Portland, Oregon.
Analisa Baker or Britt Gottlieb