Le Lézard
Classified in: Transportation, Business
Subjects: AWD, TDS

Hyundai Capital America Wins 2019 AFP Pinnacle Award Grand Prize for Excellence in Treasury and Finance


BOSTON, Oct. 21, 2019 /PRNewswire/ -- Hyundai Capital America (HCA) has won the Association for Financial Professionals 2019 Pinnacle Grand Prize for excellence in treasury and finance. The Pinnacle Grand Prize, sponsored by MUFG (Mitsubishi UFJ Financial Group NYSE: MUFG), was presented today before the opening keynote at AFP 2019 in Boston.

(PRNewsfoto/AFP)

For press-related questions, please contact Melissa Rawak at mrawak@afponline.org.

HCA's submission involved overhauling their business in order to prosper with industry evolution. HCA saw the writing on the wall?a world with increased ride share, autonomous driving, electrification? and knew innovation was necessary or they would succumb to obsolescence. Uniquely, HCA's finance department was where the innovation began, having been given the role of directing overall strategy.

HCA's finance team decided to implement a new capital structure that could be agile and competitive in support of subscription ownership. HCA dramatically reduced its leverage and projected a strengthened financial profile, thereby reducing borrowing costs. The rating agency implied rating for HCA's capital adequacy improved by four full notches. The transformed funding flexibility has enabled the front-end of HCA's business to pursue new and innovative products.

"AFP is honored to recognize Hyundai Capital America's contribution," said Jim Kaitz, president and chief executive of AFP. "As disruption continues, Hyundai Capital America's solution embodies the innovative spirit required to advance the treasury and finance profession."

MUFG donated $10,000 to the charity of HCA's choice, Children's Hospital of Orange County, which specializes in pediatric care. The hospital has a pediatric residency program, as well as the Children's Heart, Neuroscience, Orthopedic, and Hyundai Cancer Institute.

Ranjana Clark, Head of Global Transaction Banking, Head of Transaction Banking Americas, and Bay Area President for MUFG, hosted the ceremony.

"MUFG is proud to partner with the AFP in recognizing companies for their advancements in treasury and finance," said Ranjana Clark. "Hyundai Capital America's entry highlights how an innovative approach can evolve the way companies conduct business. We congratulate Hyundai Capital America on receiving the Pinnacle Award and we are pleased to support their charity, Children's Hospital of Orange County, in serving the community."

The runners-up for the Pinnacle Award were Baird and Expedia Group. Along with Hyundai Capital America, these organizations were selected as finalists for their innovative solutions that demonstrated increased revenue, reduced risk, enhanced productivity, saved costs, or improved quality.

ABOUT AFP®
Headquartered outside of Washington, D.C. and located regionally in Singapore, the Association for Financial Professionals (AFP) is the professional society committed to advancing the success of treasury and finance members and their organizations. AFP established and administers the Certified Treasury Professional and Certified Corporate FP&A Professional credentials, which set standards of excellence in treasury and finance. Each year, AFP hosts the largest networking conference worldwide for more than 7,000 corporate financial professionals.

 

SOURCE Association for Financial Professionals


These press releases may also interest you

23 jan 2021
POWERHOME SOLAR, a leading provider of solar panel installation and energy efficiency services, is giving away three new Chevrolet Bolts as part of its "PWR Your Life" sweepstakes aimed at increasing awareness of sustainable and eco-friendly living....

23 jan 2021
Pilots represented by Unifor Local 7378 have reached a tentative agreement with Sunwing Airlines. "I applaud the leadership of Unifor 7378 for their grit and determination in fighting for a collective agreement that benefits our members during these...

23 jan 2021
Motorcycle Group will present lease and loan offers simultaneously to qualified applicants so motorcycle & powersports dealers can maximize their sales. Combined with the new application platform under MotoLogin.com, both dealers and their customers...

22 jan 2021
Trion Supercars Group, is an exotic auto manufacturer now based in Las Vegas Nevada. The founder and CEO, Richard Patterson who recently met with music mogul and business entrepreneur Percy "Master P' Miller on his show, Master P Reviews...

22 jan 2021
The University of Arizona Global Campus (UAGC) has announced a new academic partnership with in-flight training provider MzeroA that will offer students the opportunity to further their education in drone operations....

22 jan 2021
The Teamsters Union applauds President Biden's call for the Occupational Safety and Health Administration to reassess COVID-19 workplace safety guidelines, including emergency temporary standards, in his Executive Order on Worker Health & Safety....



News published on 21 october 2019 at 10:07 and distributed by: