Le Magazine du Trésorier - n°64 - 4ème trimestre 2008 - (Page 6)

Interview with… Bruno Bobricheff, Group Treasurer, ORCO PROPERTY GROUP Could you present us briefly your company? Orco Property Group (OPG) has started its activity in a very original way. In 1991, our foundator fell in love with a building in Prag. He bought it, restored it and then rented it to the Volkswagen subsidiary which afterwards entrusts OPG with the mission of looking for accommodations for its employees… The property chain was launched. Now we are a leading investor, developer and asset manager in the Central European real estate and hospitality market, OPG currently has assets under management of 2.7 billion. Based in Luxembourg, OPG is a public company which has been operating in Central Europe since 1991 and employs over 3,100 people in nine different countries worldwide. Are you essentially active in the acquisition, the renovation and the sale of buildings? Not only. We also launch construction programmes for renting purposes, both for private and professional needs. We also have built upmarket hotels which we run by direct management or subcontracting, in particular in Moscow. Is treasury management based on a centralized or decentralized structure? OPG consists of several decentralised entities in Central Europe with substantial operational autonomy in the day-to-day organisation of their businesses. The majority of the group’s turnover is realised in the Czech Republic, Slovakia, Hungary, Germany, Russia, Croatia and Poland. Cash flows are in euro and in local currency. The parent company, which is responsible for the group treasury, is based in Luxembourg. How are you working with the different entities of your group? The group treasury, is having control and oversight of the different entities’ funds and maintain electronic access to all accounts centrally in order to achieve greater visibility and security in the enterprise-wide cash position. Our main bank e-banking platform enables OPG to manage its accounts worldwide. It also allows group treasury in Luxembourg to remit payment and collection instructions and to withdraw intraday and/or end-of-day account information from which ever location. 6 INTERVIEW

Table des matières de la publication Le Magazine du Trésorier - n°64 - 4ème trimestre 2008

COUVERTURE
SOMMAIRE
EDITORIAL
FINANCIAL HIGHLIGHTS
INTERVIEW
FOCUS
FORUM OF ADVERTISERS
TREASURERS’ ASSOCIATIONS
NEWS

Le Magazine du Trésorier - n°64 - 4ème trimestre 2008

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