1、Citi is one of the worlds largest financial institutions,operating in all major established and emerging markets.Across these world markets,our employees conduct an ongoing multi-disciplinary conversation accessing information,analyzing data,developing insights,and formulating advice.As our premier

2、thought leadership product,Citi GPS is designed to help our readers navigate the global economys most demanding challenges and to anticipate future themes and trends in a fast-changing and interconnected world.Citi GPS accesses the best elements of our global conversation and harvests the thought le

3、adership of a wide range of senior professionals across our firm.This is not a research report and does not constitute advice on investments or a solicitations to buy or sell any financial instruments.For more information on Citi GPS,please visit our website at GPS:Global Perspectives&Solutions Nove

4、mber 2023TREASURY LEADERSHIPDoes It Matter?Citi GPS:Citi GPS:Global Perspectives&Solutions November 2023 Primary Authors Dr.Duncan Cole Digital&Partnerships,Client Advisory Citi Treasury&Trade Solutions|Dublin +353-1-622-6169| Ron Chakravarti Global Head,Client Advisory Citi Treasury&Trade Solutions

5、|New York+1-646-725-7705| Contributors Anton Abraham Client Advisory,Citi Treasury&Trade Solutions|Hong Kong Joe Vasen Client Advisory,Citi Treasury&Trade Solutions|Seattle Kelvin Ang Client Advisory,Citi Treasury&Trade Solutions|New York Mariyam Baig Client Advisory,Citi Treasury&Trade Solutions|Du

6、blin Jessie Hsiao Client Advisory,Citi Treasury&Trade Solutions|Shanghai Britt Jensen Client Advisory,Citi Treasury&Trade Solutions|London Carol Mah Client Advisory,Citi Treasury&Trade Solutions|Singapore Patrick Peters-Buhler Client Advisory,Citi Treasury&Trade Solutions|Dubai David Tao Client Advi