A rapidly growing market research business with global operations was expanding into North America, Europe and Asia Pacific. Acknowledging its need to mitigate resulting currency exposures, the organization engaged PMC to review its FX risk management approach.
- Develop a currency model for the business which incorporates adjustments for the complexities of its system of international recharging;
- Work with management to develop an FX policy document;
- Assist the group to hedge their FX exposures for the current financial year ensuring that appropriate pricing are obtained from their banking partner.
Results & Recommendations
By developing a tailored currency model and then drafting of a Board-approved policy document, we enabled the business to establish a strong basis for an initial hedging programme and also future risk management decisions.