President and Managing Director, Scania Finance Korea Ltd
The skills developed in treasury can equip ambitious treasury professionals to move towards a CFO position; there are also wider financial roles within the business which bring the same profile, responsibility and diversity, but in ways more closely linked to the business itself. In this feature, we talk to Ulf Egestrand, President and Managing Director of Scania Finance Korea Ltd and formerly Group Treasurer of Scania about his career.
Tell us a little about your background in Treasury?
I come from a banking background originally – I spent 15 years in the SEB family including ten years trading foreign exchange and interest rate products. I moved into industry in 1992, initially into an in-house banking role for Investor and Saab Scania and then I became Treasurer for Saab AB. I joined Scania in 1998 as Group Treasurer based in Södertälje, Sweden.
I left my Group Treasury position in 2000 and took on the role of Finance Director – essentially the position between CFO and Treasurer, with responsibility for Treasury, Insurance across the Group, and Trade Finance. I did this role for three years and then decided I wanted to develop broader experience and I had the opportunity to move to Germany to head up the customer finance function there.
What made you decide to take on your current role?
I had always been interested in Asia and in 2005 the opportunity came up to run Scania Finance Korea – the first Scania finance company in Asia – which I have now done for two years. Now I’m changing again and will become Chairman of this company from 1 March 2008 and adviser in Asia on all issues relating to customer finance, vendor programmes etc. in regions where we don’t have a finance company.