Institutional Investor Ranks Europe's Best CFOs>
Institutional Investor Ranks Europe's Best CFOs
(Thomson Reuters ONE) - Europe's Top Finance Chiefs Are Poised for GainsNEW YORK, NY -- (MARKET WIRE) -- 07/15/09 -- Earnings guidance isout, cost controls are in, as European financial chiefs steer theircompanies through the recession. Institutional Investor's annualranking of Europe's Best CFOs names 28 top finance chiefs who havecut costs and put their firms in a position to profit during economichard times.Companies that maintained discipline in the go-go years now arefinding opportunities to pick up market share from strugglingcompetitors.At BNP Paribas, CFO Philippe Bordenave helped limit the growth of thefirm's investment banking unit and minimized its exposure to U.S.subprime mortgages and other shaky assets. When turmoil shook theEuropean banking industry after the collapse of Lehman BrothersHoldings last year, he led a team that struck a deal with thegovernments of Belgium and Luxembourg to acquire control of Fortiswhile taking on few of its toxic assets. Bordenave was also quick totake advantage of the recent thaw in credit markets to raise EUR 23billion of BNP Paribas's EUR 30 billion funding requirement for 2009by early June.Such strategic planning is one reason why Bordenave is the leadingfinancial executive in the Banks sector, according to portfoliomanagers and buy-side analysts who participated in InstitutionalInvestor's annual ranking of the Europe's Best CFOs.Results in 25 industry sectors are being announced over a two-dayperiod beginning July 15, when the winners in the Basic Materials,Consumer, Energy, and Financial sectors are announced. On July 16,thetop CFOs in the Industrials, Pharmaceuticals & Health Care, andTechnology, Media & Telecommunications sectors will be revealed.For more information about these rankings, please contact MicheleBickford at mbickford(at)iiresearchgroup.com or (212) 224-3360.About Institutional InvestorInstitutional Investor magazine's role as the preeminent source ofsurvey-based rankings has identified the top analysts covering equitymarkets in Asia, Europe, Japan, Latin America, and the U.S. for morethan 30 years. The annual surveys provide access to leadinginvestmentprofessionals across the globe, and capture the participation of over90% of the world's largest equity investors. Institutional Investorhas broadened its expertise to be a key provider of investorrelationsresearch, and through detailed reports, provides unrivalledindependent analyses based on the expert opinions of theinternationalinvestment community.Contact:Michele Bickfordmbickford(at)iiresearchgroup.com(212) 224-3360This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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