45
The Challenge
Roche is a global leader and pioneer in
healthcare. Headquartered in Basel, Switzerland
with over 85,000 employees across more than
150 countries, the company creates innovative
medicines and diagnostic tests that help
millions of patients globally. Roche is also the
world’s largest biotech company with 14
biopharmaceuticals on the market.
With one of the most advanced treasury
management models in the industry, Roche has
a centralized cash pooling structure managing
90% of their global liquidity. Roche’s global
cash pool covered 50 countries, 45 currencies
and 175 affiliates but did not include subsidiaries
in China before 2014 due to regulatory
constraints.
Isolated from the global cash pool, Roche
China’s surplus cash could not be centralized
with global liquidity. At the same time, Roche’s
treasury in China had to seek external
borrowing each time their cash positions went
into a negative position. This happened on a
monthly basis following the payment pattern,
thus incurring financing costs.
ROCHE
Market Leading Cross-border RMB
Liquidity Management Solutions
In June 2014, Roche implemented the world’s first automated renminbi (RMB) cross-border
pooling solution. Roche is also the first company approved by People’s Bank of China (PBOC) for
RMB cross-border payment-on-behalf-of (POBO), receipt-on-behalf-of (ROBO) and netting earlier
in the year. The combined pooling and netting arrangements will take the company to an even
higher level of centralized liquidity and treasury management — managing over 90% of their
global liquidity across 50 countries, 45 currencies and 175 entities.
Industrials
Energy, Power
and Chemicals
Technology, Media and
Telecommunications
Consumer and
Healthcare
Non-Bank Financial
Institutions
