I have recently renewed my annual membership of the Association of Corporate Treasurer, one of two professional bodies to which I belong and perhaps the most important. Today the September issue of "our" magazine has arrived. Am I wrong, or does it continue to shrink in size each month - I seem to remember it as a substantial magazine of perhaps 60 pages plus. Now it is below 40. I could be wrong though.
Glancing through it is a depressing affair. The technical issues seem deeply unimportant to me. The small list of people on the move, the reviews of bond market and bank facility trends, new accounting standards, the possibility that OTC derivative markets might be killed off by regulatory authorities, the continual discussion of pensions, the latest lending innovations and the resurgence in convertible bond issuance, and so on and so forth. It is all just so ghastly!
In the Exam results section I am surprised to see three people have passed who work for Imperial. I met someone earlier in the year from this past life and he mentioned that the Treasury department there now has nearly 20 people in it. Extraordinary. Moreover there is a job advert for a Treasury Dealer at a "Bristol based tobacco company" - so they evidently need someone else.
It all seems such a long time ago and the idea of being involved in it all again fills me with a great discomfort. But the prospect does not go away completely and continues to lurk in the background all the time. One day it will be gone and I will be able to not renew my ACT membership and will be thrown out of the organisation. What a happy day that will be!
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