Boosting performance,
Strengthening resilience

Welcome to Corium Treasury Limited, provider of interim and advisory corporate treasury services. Corium was founded by James Leather in 2018 and draws on his extensive experience and a global network of professionals, to help businesses identify their financial risks, formulate appropriate responses and to successfully navigate these risks.
Recent assignments: DCM consultant to leading securities’ market-maker; 360 Treasury Review and Road Map for UK retail giant; Chair of the Group Treasurer’s Exchange in Berlin and London; FX Risk Review and Policy creation for Mainstream Renewable Power (wind and solar) and HES International (commercial ports); Liquidity & Investment review for Alfa Financial Services (FTSE 250 software group); treasury System and Process upgrade for Ocado Plc; LIBOR transition for Landsec Plc across £5.5bn of debt and derivatives; Liquidity and Funding support for Interserve Ltd; and interim Global Director of Treasury for Getronics (highly leveraged IT services business).

Services

What we do and how we do it

Service 1: Risk Review and Policy Creation

Treasury risks come in many shapes and sizes. Rapidly rising interest rates, however, have caused other risks to emerge on a scale not seen since the GFC of 2008 – counterparty credit risk, liquidity (and investment) risk, FX risk and funding risk to name a few.

Corium Treasury has the experience and network to help you understand the drivers of these risks, to assess how they can be managed and to convert the insight into a policy, with process and technology recommendations (e.g., digital platforms that enable access to: liquidity enhancing invoice and supply chain finance; cost reducing supplier payment techniques; and products that optimise risk-adjusted investment returns).

Service 2: ‘360’ Treasury Review and Road Map

Sometimes a specific focus on liquidity or FX, for example, is not enough and a full ‘360’ review is required. Perhaps the organisation has undergone recent significant change, or maybe such a review has not occurred for some time.

Whatever the reason, Corium can help by providing a full review of the function, identifying any gaps with respect to the requirements of the current business environment and better practice. Prioritised recommendations with quantified benefits can be converted into a plan or ‘road map’ providing clarity and reassurance about the way ahead.

Service 3: Accelerated RFP

From time to time, treasurers like to issue a ‘request for proposal’ (RFP), whether it be to select a new TMS, a cash management provider, a credit provider (e.g., supply chain finance) or to find counterparties for MM deposits.

Corium has partnered with fintech ‘Treasury Delta’ to provide a ‘consultant-technology’ solution, that makes this process many times quicker than it has been historically using emails and spreadsheets to record and compare responses. The Treasury Delta platform has 5 main advantages: efficiency, customisation, established vendor connections, transparency and governance. Ultimately, this is all reflected in price – and an attractive return on investment for the client.

Service 4: Carve Outs

In a business separation, how clear is the division of capital, fund management and other financial resources, such as the treasury function?

Corium can help you assess all aspects of treasury operational requirements for the parent or separating entity, to ensure that both are effective from the date of separation and that risks are identified and contained.

Service 5: Training (inc Presenting)

There are times when training can help – be it for a specific need, such as compounding (e.g. SONIA, SOFR etc) and ESG, or for a general requirement, such as accelerating the skills of a new team member, so that they can contribute to the team, more quickly than might otherwise be possible.

As well as helping with such technical requirements, Corium can also assist with presentational performance. From time to time, treasurers are taken out of their comfort zone and are required to make critical presentations e.g., to the Board, at conferences or to debt investors. Corium has teamed up with researchers from the Royal College of Music and Imperial College to harness techniques such as Virtual Reality and sequential simulation to improve high-pressure presentational performance.

Service 6: Interim Services

Sometimes, the services of an interim can be helpful: for some, it buys time, so a permanent replacement can be chosen without rushing; and for others, the expertise that a contractor brings is attractive, as they are able to ‘hit the ground running’ and immediately add value in troubling times, deploying a range of skills from implementing cashflow forecasting models, to handling LIBOR transition.

Whatever your interim need, Corium Treasury can probably help you fill the gap and leave your organisation with lasting improvements.

Team
James Leather
FCT, CertBALM, CGMA
James is a corporate treasurer with over 20 years’ cross-sector experience operating from London and Sydney, into Asia, Europe, the Middle East and Africa. He is a former member of the UK’s Working Group on Sterling Risk-Free Reference Rates and a technical contributor to the Association of Corporate Treasurers. James is a qualified corporate treasurer (FCT) and accountant (CGMA), as well as a holder of the Certificate of Banking Asset and Liability Management (CertBALM) from the UK’s Asset & Liability Management association.

Others

Where necessary, Corium can draw on the expertise of a global network of professionals in the provision of its services.

Testimonials

“James was an incredibly professional, prepared, and dedicated Chair for the Group Treasurer’s Exchange Europe 2022.... he was a fantastic fit for the conference.”

Ellie McIntosh

Conference Producer, IQPC Exchange

"James was utterly dedicated, prepared and always on hand as the Chair of the Group Treasurer’s Exchange 2023"

Kat Sullivan

Conference Producer, IQPC Exchange

“…at Sydney Motorway Corporation (a complex PPP)…I found him to be an excellent team player, supportive of his colleagues, logical in his approach, hardworking and efficient in delivering the targeted outcome….also possessed a strong set of stakeholder management skills….”

Ian Khaw

M&A and Strategy Professional

“…not only spearheaded IBOR transition for us, but also stepped up when the rest of the team left…invaluable…”

James Gillard

Treasurer at Land Securities Group Plc

“…continued the improvement in quality of liquidity reporting, providing reassurance and stability during the raising of £135m of critical finance for Interserve…”

Simon Caton

THM Partners LLP

James and I worked together to develop a new cyber-crime proposition for Deloitte that integrated capabilities of several different parts of the firm. James has enormous enthusiasm, a hunger to try new things and a solid understanding of treasury functions.

David Owen

Partner, Cyber Risk at Deloitte

"…during BAT's global treasury transformation and centralisation project…James demonstrated outstanding teamwork abilities and provided the support required for the implementation of several key process innovation projects in the Treasury Front Office…of one of the world's largest and most global corporate treasuries…”

Peter Psarianos

Senior Associate, Corporate & Institutional Banking at National Australia Bank

Find out more

Request further information

If you would like further information please use the contact details below.

+44 (0)7526 707 872

info@coriumtreasury.com

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