Corporates caught out by Brexit and aftermath
Firms, especially new multinationals, are encouraged to bring in FX exposure talks at the due diligence stage
The sharp move in sterling and its subsequent depreciation after Britain's vote to leave the European Union caught corporate treasuries by surprise, as hedging programmes performed poorly, and some failed to anticipate the magnitude of the move, a survey of corporate treasurers shows.
The findings of Chatham Financial's survey of 275 middle-market treasury executives show only 28% of companies hedging their FX exposures actually meet all of the intended goals of their hedging programmes, despite
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