From Group Treasurer to CFO: a strategic journey through the finance function
In the ever-evolving landscape of corporate finance, the journey from Group Treasurer to Chief Financial Officer (CFO) is one marked by strategic foresight, cross-functional collaboration, and a deepening of commercial acumen. While the two roles are distinct in scope and responsibility, the transition is increasingly common, and for good reason. The modern CFO is no longer just a steward of financial reporting but a strategic partner to the CEO. Corporate treasurers, with their unique blend of risk management, funding expertise, and global perspective, are well-positioned to step into this broader leadership role.
The foundation: treasury as a strategic launchpad
The role of Group Treasurer has evolved significantly over the past decade. No longer confined to cash management and debt issuance, today’s treasury professionals are central to shaping capital structure, managing financial risk, and supporting mergers and acquisitions. This strategic positioning provides a solid foundation for broader financial leadership.
Treasury operations now play a key role in business strategy, with the treasury function increasingly involved in forecasting, liquidity management, and foreign exchange risk. In many ways, the treasurer is the CFO’s right hand when it comes to cash flow planning, funding strategy, and navigating volatile markets. The exposure to investor relations, banking relationships, credit rating agencies, and the board equips treasurers with the communication skills and stakeholder management experience that are essential for a c-suite role.
Broadening the lens: building the CFO skillset
While the treasurer role is rich in technical expertise, the transition to CFO requires a deliberate broadening of scope. This often involves taking on roles that provide exposure to financial planning and analysis (FP&A), controllership, tax, and even IT or procurement. For many aspiring CFOs, a lateral move into a divisional Finance Director or Vice President of Finance role can be a strategic stepping stone in their career path.
Understanding the full P&L, driving budgeting processes, and leading cross-functional finance teams are all part of the CFO remit. Treasurers looking to make the leap must demonstrate not only financial acumen but also the ability to influence strategic decisions, drive performance, and lead transformation initiatives.
Leadership is another critical dimension. As CFO, you are not just managing numbers, you are leading people. Building and inspiring high-performing teams, fostering a culture of accountability, and navigating organisational change are all part of the job. For treasurers, this often means stepping out of the technical comfort zone and embracing a more people-centric leadership style, often in collaboration with the broader treasury department and financial controller teams.
The transition: from specialist to strategist
The move from Group Treasurer to CFO is not just a change in title, it’s a shift in mindset. As CFO, you are the financial conscience of the business, but also a key architect of its future. You are expected to challenge assumptions, shape strategy, and act as a bridge between the boardroom and the business.
This transition often involves a recalibration of focus. Where the treasurer is primarily concerned with the balance sheet and liquidity, the CFO must take a holistic view, balancing short-term performance with long-term value creation. This means engaging deeply with the business, understanding customer dynamics, and aligning financial strategy with corporate objectives.
Communication becomes even more critical. Whether it’s presenting to the board, engaging with investors, or rallying internal teams, the CFO must be a compelling storyteller, able to translate complex financial data into clear, actionable insights. The ability to act as a business partner across departments is essential, especially as finance becomes more integrated with digital transformation and automation initiatives.
Case in point: lessons from the front line
Consider the example of a Group Treasurer at a FTSE 100 company who successfully transitioned to CFO within five years. Initially focused on refinancing the group’s debt and implementing a global cash pooling structure, they gradually took on broader responsibilities, first leading a finance transformation programme, then stepping into a divisional CFO role.
Along the way, they built strong relationships with operational leaders, gained exposure to commercial decision-making, and developed a reputation for strategic thinking. When the CFO role became available, they were the natural choice, not just because of their technical expertise, but because they had demonstrated the ability to lead, influence, and deliver results across the business.
This trajectory is increasingly common. At Brewer Morris, we’ve seen a growing number of corporate treasury professionals making the leap to CFO, particularly in sectors where treasury management systems, real-time data, and new technology are central to the business model, such as energy, infrastructure, and financial services.
Navigating the challenges
Of course, the transition is not without its challenges. One of the most common hurdles is perception, both self-perception and how others view your capabilities. Treasurers are often seen as technical specialists, and breaking out of that mould requires proactive effort.
It’s important to build a narrative around your broader leadership experience. Highlight your involvement in strategic initiatives, your role in shaping business strategy, and your ability to lead cross-functional teams. Seek out mentors and sponsors who can advocate for your potential and help you navigate the internal politics of succession planning.
Another challenge is the sheer breadth of the CFO role. From compliance and controls to digital transformation and ESG reporting, the CFO agenda is vast. Building a strong leadership team around you, one that complements your strengths and fills any gaps, is essential. This includes strengthening the treasury team and ensuring the treasury function is aligned with broader corporate goals.
The future CFO: a role tailor-made for treasurers?
As the CFO role continues to evolve, the skillset of the modern treasurer is becoming increasingly relevant. In a world of geopolitical uncertainty, rising interest rates, and growing investor scrutiny, the ability to manage risk, optimise capital, and drive financial resilience is more valuable than ever.
Treasurers bring a unique perspective to the CFO role, one that is grounded in financial discipline, but also attuned to the strategic levers of value creation. With the right experience, mindset, and support, the transition from Group Treasury to CFO is not only possible, it’s a natural progression.
At Brewer Morris, we work with finance leaders at every stage of their journey. Whether you’re a treasurer looking to broaden your horizons or a CFO seeking your next challenge, we’re here to support your ambitions with insight, expertise, and a deep understanding of the finance leadership landscape.
How Brewer Morris can help you make the step up to CFO
A career as a CFO offers a unique blend of strategic leadership, financial expertise and the ability to shape the future of a business. If you have a strong vision for driving financial growth, optimising performance and guiding executive decision-making, a CFO role could be your next career move.
If you’re exploring new senior treasury or CFO opportunities, browse our latest executive roles. Alternatively, if you’re looking to hire a CFO for your organisation, submit a brief and a member of our team will be in touch.
