Michael Pearce

I have spent over thirty years in finance, split between the world's major money market centres and development of PMC Treasury.

This was punctuated by a Cranfield MBA and it was while at Cranfield that I first saw the value of an impartial executor of corporate treasury transactions – the foundations for today's business.

Experience has shown me that the markets cannot be consistently beaten. This truth has been one of the founding principles of PMC. By helping clients to see this contradiction we are able to help them put in place hedging strategies appropriate to the dynamics of their business and industry. Further, we believe that complex hedging strategies are, at best, inappropriate for leveraged companies and that simplicity delivers significant current and future value.

Treasury generally, and hedging specifically, is an area where inequality of knowledge can cost a client dearly – and very often they don’t even know.

A contrarian by nature – if someone says “A”, my immediate reaction is “What about B?” It’s our role to challenge received wisdoms and conventions and to find ever more effective solutions.

When we discovered there was no similar treasury consultancy in the US I moved to New York in 2005 to start PMC there. The response was positive and immediate, and our presence in New York has added another valuable dimension for our European clients in the same way that our European heritage and experience adds value to those in the US.

As a small company we have the luxury of being one team, genuinely integrated across the offices. PMC’s revenues are pooled and as a consequence the team is free from the parochial ‘my patch’ concerns that inevitably afflict larger consultancies.

PMC has gained much over the years by sticking to what it knows and what it does well. While the future will no doubt see many changes, this will not change.