January « 2012 « marcusevans-finance

Archive for January, 2012

European Tax Summit 2012


TAX EXPERT International AG:
Reclaiming Switzerland’s Attractive Tax Environment







 

Richard Wuermli from TAX EXPERT International AG, a sponsor company at the marcus evans European Tax Summit 2012, on benefiting from the attractive tax environment that Switzerland has to offer.  


Interview with: Richard Wuermli, Managing Partner, TAX EXPERT International AG



FOR IMMEDIATE RELEASE


After Switzerland was placed on the Organisation for Economic Co-operation and Development’s (OECD) grey list in 2009, there has been a move to make the tax environment even more attractive than before, says Richard Wuermli, Managing Partner, TAX EXPERT International AG. Businesses are now benefiting from zero rates, arbitration board clauses and a new Licence Box Rule, he adds.


From a sponsor company at the upcoming marcus evans European Tax Summit 2012, taking place in Dublin, Ireland, 26 – 27 March, Wuermli shares his views on why more European company headquarters are moving to Switzerland to take advantage of its favourable tax environment. 


How has Switzerland bounced back from being put on the OECD grey list?


Switzerland found itself under heavy attack when it was placed on the tax haven grey list in 2009. The Swiss principle of bank secrecy strictly limited any information from being shared with third parties, making it difficult to come off that list due to the information exchange clause in the double tax treaty.


Nevertheless, Switzerland signed new double tax treaties in agreement with international standards set by the OECD, and was thus removed from the list. Through this course of action, numerous benefits for businesses, including lower tax rates, the capital contribution principle and arbitration board clauses in the double tax treaties were introduced.


Although we are no longer seen as a tax haven, there are now movements to lower the tax rates even further and a new Licence Box Rule has been introduced which is very favourable to companies. There is a move to make Switzerland even more attractive than before. 


What guidance would you give regarding international mergers and acquisitions?


Many European headquarters are moving to Switzerland in order to benefit from the low tax rates for companies as well as for employees. Organisations value political stability, strong currencies and security, and that is what the country has to offer. The question arises whether there is heavy exit tax, taxation of assets relocated and moveable/immovable intellectual property rights when moving to the nation.
 
How should organisations develop their transfer pricing strategies?


Respective authorities are becoming more aggressive and attacking companies on transfer pricing aspects.


Having a centralised filing system, a master file, is crucial. If an organisation were to be attacked in a certain jurisdiction, it would have easy access to all documents needed to defend its transfer policy. In many countries, an Advanced Pricing Agreement (APA) would resolve transfer pricing disputes in a cooperative manner. A best practice is to have a strong centralised filing system for all documents and contracts.



Contact:
Stacey Melvin
Journalist
marcus evans, Summits Division
Tel: + 357 22 849 400
Email:
press@marcusevanscy.com



About the European Tax Summit 2012


This unique forum will take place at The Four Seasons, Dublin, Ireland, 26 – 27 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes visionary presentations and interactive forums on substantial fiscal deficits, minimising tax gaps and developing transfer pricing strategies.


For more information please send an email to info@marcusevanscy.com or visit the event website at www.taxsummit.com


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.










 


 

 

 


Please note that the Summit is a closed business event and the number of participants strictly limited.


About TAX EXPERT International AG


We are a world-wide leading international tax consulting firm. Our tax expert teams reliably assist you when it comes to complex national and international tax set-ups. We develop tax strategies and concepts that are easy to be translated into practice – tailor-made for your needs. Together, we determine your success, implement solutions orientated towards the future and generate surplus value for your group of companies.


www.taxexpert.ch


About marcus evans Summits
 
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit
www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

CFO Summit XXIV


The Commercially Attuned CFO









 

Craig Omtvedt, a speaker at the marcus evans CFO Summit XXIV Spring 2012, on driving business growth by being commercially in sync.  

Interview with: Craig Omtvedt, Former Senior Vice President & Chief Financial Officer, Fortune Brands, Inc.


FOR IMMEDIATE RELEASE


Chief Financial Officers (CFOs) need to be commercially attuned and think like owners in order to enhance the value proposition and help the business achieve sustainable growth with appropriate margins, says Craig Omtvedt, Former Senior Vice President & CFO, Fortune Brands, Inc. “Some CFOs are so focused on IRR that they cause the company to lose market share, which can ultimately be a death spiral,” he adds.


A speaker at the upcoming marcus evans CFO Summit XXIV Spring 2012 in Hollywood, Florida, May 17-19, Omtvedt talks about risk management and setting up the business for success by being in sync with global markets.


What is the top CFO challenge today?


The biggest challenge for CFOs today is dealing with the new normal, the dynamic of the global economy, with slow or no growth in the US and a Eurozone crisis. Companies are also trying to take advantage of opportunities in the emerging markets, which many consider as homogenous when they are the opposite. Dealing with the various challenges – the on again, off again interest of Russia in foreign investment and the demographics of China’s aging population versus India’s youthful population – are creating interesting dynamics. One size does not fit all.


How can CFOs drive shareholder value in this setting?


CFOs need to focus on the value proposition for consumers, to ensure that what is being engineered into products and new product initiatives represent features that customers are willing to pay for. Simply building the best product in the world is no longer good enough. There needs to be a dramatic outward-in focus.


What works well for mitigating risks?


The most important technique is simply having a hands-on knowledge of the business and industry, and a strong understanding of competitors. That drives good decisions. Rather than operating from the center, getting out and spending time to understand strengths, weaknesses, the risk orientation of various teams, the various global markets in which they operate, and making sure that the right risk attention is placed at the right time is key to a strong risk program. 


Sometimes we see a bureaucratic or cookie cutter approach where risks are periodically weighed formulaically. That does not serve the organization well. Bureaucratic process can kill a business as fast as too little control. Here again, CFOs need to think like owners and make sure that the mitigation procedures and programs are timely, make sense and are financially viable.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the CFO Summit XXIV Spring 2012


This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 17-19, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on improving profit margins, the evolving role of the CFO, risk management and strategically accessing capital in a turbulent market.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                          


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com


 

CFO Summit 2012


Cost and Risk Management Tips for CFOs







  Stephen Rue, the Chairman of the upcoming marcus evans CFO Summit 2012, on cost and risk management.
 
Interview: Stephen Rue, Chief Financial Officer, News Limited



FOR IMMEDIATE RELEASE


Chief Financial Officers (CFOs) should consider cost-cutting measures in conjunction with the overall business strategy and not in isolation, says Stephen Rue, Chief Financial Officer, News Limited.


The Chairman of the marcus evans CFO Summit 2012, taking place in the Gold Coast, Queensland, Australia, 4 – 6 March, Rue discusses cost management, gaining market share and risk management in today’s challenging economy.


How can organisations lower their expenditure whilst maintaining their competitive edge in today’s economic and business environment?


Any cost management must be conducted in conjunction with the overall business strategy. Cutting costs in isolation of a whole of business plan can be dangerous. All employees should see a purpose behind it, so it is critical to constantly communicate a vision for the future at the same time.


In terms of cost cutting, CFOs should question everything that is done, look to implement shared services, review options for outsourcing, and consider the delayering of management and any opportunities to divest non-core assets.


It is also important to invest some savings back into areas of the business that can be grown. Competitors may also be going through the same difficulties, so it might be an opportunity to gain competitive advantage, grow market share or hire top talent released from competitors.


What risk management strategies could you share?


Risk management is an essential part of the CFO’s job today. The CFO needs to look at all areas of the business and its strategies, from how business plans are being executed to OH&S legal compliance. To ensure all operational areas are covered, it is best to engage the whole business. Key operational management has to understand the importance of assessing the risk environment. They are usually very conscious of issues such as disaster recovery, business interruption, safety and poor execution of plans. This is not something done on a spreadsheet in the CFO’s office. It has to be encapsulated through the whole business. 


As the CFO of News Limited, what are your top challenges and how are you tackling them?


Our greatest challenge is the changing media environment. News Limited has a large proportion of the Australian newspaper market, but consumer habits are changing. Advertisers now have alternative options for marketing their products and services, and are looking for a measurable return on their investment. For us, the big challenge is to continue to protect and support our traditional print business, while growing a new digital business that will be seriously profitable in the future.


Any final thoughts?


The economy today is volatile. Similarly, the pace of change is accelerating; CFOs need to be incredibly vigilant in this environment of increased business risk. They have to think past the traditional role of the CFO and become the eyes and ears of their business.



Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager
marcus evans, Summits Division
Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the CFO Summit 2012


This unique forum will take place at RACV Royal Pines Golf Resort & Spa, Gold Coast, Queensland, Australia, 4 – 6 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on improved finance strategies, technological innovation, astute leadership, and the impact of climate change on finance.


For more information please send an email to info@marcusevanscy.com or visit the event website at www.cfo-anz.com


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.










 


 

 

 


Please note that the Summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.com

CFO Summit XXIV


Optimizing the Capital Raising Transaction Process








 

David Pritchard and Jonathan Cunningham of Aequitas Advisors LLC, a solution provider at the marcus evans CFO Summit XXIV Spring 2012, on achieving the best possible outcome when raising capital in the financial markets. 

Interview with: David Pritchard and Jonathan Cunningham, Principals/Co-Founders, Aequitas Advisors LLC


FOR IMMEDIATE RELEASE


Companies can access a variety of capital raising alternatives today, but with many complex instruments available in the market, Chief Financial Officers (CFOs) may not be realizing optimal financing outcomes for their companies, according to David Pritchard and Jonathan Cunningham, Principals at Aequitas Advisors LLC.


From a capital markets advisory services firm attending the upcoming marcus evans CFO Summit XXIV Spring 2012 in Hollywood, Florida, May 17-19, Pritchard and Cunningham share their insights and expertise on capital raising.


Why do CFOs need help evaluating capital raising alternatives?


David Pritchard: CFOs are typically highly competent, understand the needs and cyclicality of their business and have a fairly clear idea of available financing alternatives. However, many instruments utilized in the capital markets today are fully understood only by people working with them on a regular basis.


CFOs do not necessarily understand or appreciate all of the intricacies and mechanics of these structures and how the investor community views them (both those who might purchase the securities and those analyzing them on a company’s balance sheet).


It is critical CFOs consider how the costs and provisions of these structures will affect the company over the long haul, not simply be received by the market.


Why is it in a company’s best interest to manage their investment banks when issuing securities?


David Pritchard: In representing both their corporate clients as sellers and buy-side clients as purchasers in securities offerings, the role of investment banks is inherently conflicted. Additionally, while they view such events as revenue opportunities, moving on to the next client after a deal is closed, issuers have to live with all of its terms, conditions and covenants as long as the securities remain outstanding. It is, therefore, incumbent upon management to optimize the outcome of this process.    


Given the economic situation today, is it a better or worse time to raise capital or go into risky ventures?


Jonathan Cunningham: As a number of CFOs have told us, they are in the business of taking risks as far as their business objectives go. In these economic times, there are great macro risks, but these represent opportunities as well. Companies can hoard cash and ignore such opportunities, or take a proactive approach and pursue avenues of growth.


The benefit of doing so now is that assets are available at compelling valuations and the financing environment remains active. They can raise capital at attractive rates, so it is a compelling time to grow, acquire other companies or refinance balance sheets.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the CFO Summit XXIV Spring 2012


This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, Florida, May 17-19, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on improving profit margins, the evolving role of the CFO, risk management and strategically accessing capital in a turbulent market.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


The Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.


                             


Please note that the Summit is a closed business event and the number of participants strictly limited.


About Aequitas Advisors LLC


Aequitas Advisors provides unconflicted consulting/advisory services to clients undertaking capital raising, exchange or restructuring initiatives. We partner with management to analyze financing alternatives, competitively position deal managers and oversee transaction structure, strategy and execution. Aequitas’ principals have extensive institutional sales and capital markets experience and recognize the need for companies to retain such capabilities when approaching the financial markets.


www.aequitasadvisorsllc.com


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com