The Italian Association of Corporate Treasurer (AITI) has been created the 21^st of February 1992 by a restricted group of Professionals.

The 24 founding members intended to fill an institutional void, building an effective Association that could represent them with the Government, the Ministry of the Treasury, the Central Bank of Italy, the Association of Italian Bankers (ABI) and other Associations.

The Association will strive to become a reliable partner of the Monetary Authorities to solve common problems in the most efficient way, enhancing constant communication and critical debate.

AITI was created for CFO’s, Corporate Treasurers, and for all the Treasury’s operators of the Industrial, Commercial and Services Companies doing business in Italy.

The central Role of the Association is to Promote the Corporate Treasurers’ function and to Train and update the Associates on the new financial techniques and products. This function has recently undergone a profound change and it is moving now from management of financial and money flows to global risk management.

At present AITI can count on a total membership of over 400 professionals, covering the whole Italian territory and split into:

• effective members (Finance Directors, Corporate Treasurers and Treasury Operators);
• aggregate members (Bankers and Consultants).

The Association is represented by a President and governed by a Board of 12 Councillors, which lasts for 3 years.

The other main charges within the Board are:

• Vice President;
• Secretary;
• Treasurer.

In addition, there is a committee of 3 Auditors for control purposes.

Every year the Association organises meetings for the Associates, at National and Regional level, to improve their knowledge on technical matters of common interest and to allow any members to raise their professionalism. This “half a day” seminars represent an opportunity to check with other colleagues and distinguished guest leaders the “state of the art” of Corporate Treasury.

“Hot topics” are:

• Value Building;
• Financial Communication;
• The Evolution of Corporate Banking;
• The Corporate Treasurer: a New Role to play in Global Markets;
• Financial Policies and Treasury Procedures;
• Financial Planning and Control;
• Cash Management;
• Financial Risk Management (FX & IR);
• E-tools for Finance.

In 1998, the Association launched a Joint Project (called FINTEMA) with the Economics Research Department of the Bocconi University of Milan (CREA), aimed to face Corporate Treasury issues, integrating academic methodology and advanced skills with the operational needs and “on the field” experiences of the Corporate Treasurers. Thus resulting in a series of papers, addressed to the Associates, to be discussed in very open meetings, held on a quarterly basis.

The Association holds also basic training courses for Junior Corporate Treasurer and Assistants twice a year, but is moving towards the offering of advanced and specialised courses as well.

There are 9 working groups, headed by the Counsellors and opened to a limited number of Associates on a voluntary basis, which are taking care of:

1. Secretarial duties;
2. Internet web site maintenance;
3. Newsletter;
4. Co-ordination of the Fintema Project;
5. Training Programs;
6. Organisation of Meetings and Seminars;
7. Regional Delegations’ Activity;
8. Promotion of Relationships with other Associations;
9. E-banking and Standardisation.

All members periodically receive the AITI Newsletter which includes:

• the President opening;
• an update on the activity of the Working Groups and of the Regional Delegations;
• a selection of Technical Articles;
• News on Financial Markets and on the World of Treasury;
• the list of the New Comers.

Today, thanks to the Internet, the Association can further extend the number and quality of services provided.