InfrastructureTT Correspondent | 21 Nov 2013
Huawei, a leading global information and communications technology (ICT) solutions provider, has opened its Global Finance Centre of Excellence in the United Kingdom.
The new centre, located in the city of London, will manage Huawei's global finance risks and ensure that the company's financial operations continue to operate at low risk and the highest international standards with high efficiency.
Cathy Meng, Huawei Chief Financial Officer and member of the Executive Committee of Huawei’s Board of Directors, said "This new centre will be responsible for managing risks of our critical finance functions including account treatment, liquidity management, foreign exchange risk management, credit management, and global financial compliance. It will become the overall financial risk assessment and control centre for Huawei, and will help Huawei carry out consistent and low-risk financial operation globally, allowing us to continuously providing our customers with high-quality services."
As part of the company’s larger commitment to the country, in which its investment and procurement will be GBP £1.3 billion by 2017, the newly established Global Finance Centre of Excellence is part of Huawei’s overall global finance department and will focus on risk assessment across five key areas: market risk, liquidity risk, operational risk, country risk, and counterparty risk. The centre includes a credit management function that will assess credit risk associated with doing business in the Europe, Middle East and Africa (EMEA) region. The centre will also include a team responsible for managing the company’s relationships with international banks and finance partners located in London.
As an advocate for economic growth through innovation, Huawei hosted the 2013 ICT Finance Forum in London on November 20. The forum served as an opportunity for Huawei, its customers, and global financial institutions to share knowledge and discuss the future of the ICT industry. Previously, the forum has been held in Dubai and Singapore in 2012 and 2013 respectively, totally around 500 customers and senior executives of global financial institutions have attended.