Succession planning in US treasury teams: why strong number twos are in demand

In today’s fast-paced and increasingly complex financial environment, succession planning is no longer a nice-to-have for US treasury teams. It is a strategic necessity. As treasury functions continue to evolve from operational support units into strategic business partners, the need for strong leadership pipelines has become more urgent than ever. At the center of this shift is the growing demand for strong “number twos” – deputy treasurers and senior treasury managers who are ready to step into leadership roles when needed and who can support the treasury function with both technical expertise and strategic insight.

The evolving role of treasury

Treasury teams have undergone a significant transformation in recent years. Traditionally focused on cash management, liquidity, and compliance, treasury is now expected to contribute to broader business strategy. Treasurers are increasingly involved in capital structure optimization, risk management, M&A activity, and stakeholder engagement. This expanded remit means that treasury leaders must possess not only technical skills but also commercial acumen, leadership capabilities, and the ability to influence at the executive level.

As a result, the role of the Deputy Treasurer or Senior Treasury Manager has become more critical. These professionals are expected to manage day-to-day operations, lead teams, and provide continuity during transitions. They are also often tasked with driving key projects and initiatives that align with the company’s strategic goals.

Why number twos matter

Strong number twos are essential to the success and resilience of treasury teams. They provide stability, continuity, and leadership when the Group Treasurer is unavailable or when the organization is undergoing change. Whether due to promotions, retirements, or restructuring, leadership transitions are inevitable. Having a capable deputy in place ensures that treasury operations continue smoothly and that strategic momentum is maintained.

We work closely with clients across the U.S. who are actively seeking deputy treasurers with the potential to grow into more senior roles. These individuals are not just technically proficient; they are future leaders. They understand the broader business context, can manage stakeholder relationships, and are comfortable making decisions under pressure.

Market trends driving demand

Several key trends are contributing to the increased demand for strong number twos in treasury:

• Strategic growth and complexity: as businesses expand into new markets and adopt more complex financial structures, treasury teams must scale accordingly. This requires a deeper bench of talent capable of managing diverse portfolios and supporting strategic initiatives.
• Hybrid and remote working models: the shift to flexible work arrangements has made it more important than ever to have reliable deputies who can lead distributed teams and maintain operational efficiency.
• Talent shortages: the treasury talent market remains highly competitive. According to the Association for Financial Professionals (AFP), many hiring managers report difficulty finding qualified candidates for treasury roles. This scarcity has made succession planning a top priority.
• Salary inflation and retention challenges: rising compensation expectations and increased mobility among treasury professionals have made it harder for organizations to retain top talent. Offering clear career progression and leadership opportunities is key to keeping high performers engaged.

Succession planning best practices

Effective succession planning requires a proactive and strategic approach. Here are some best practices we recommend to our clients:

1. Identify high-potential talent early
   Use performance reviews, mentorship programs, and leadership assessments to identify individuals with the potential to grow into senior roles. Look for professionals who demonstrate initiative, strategic thinking, and strong communication skills.
2. Invest in professional development
   Provide training and development opportunities that go beyond technical skills. Focus on areas such as strategic finance, stakeholder management, and leadership. Encourage deputies to take on stretch assignments and lead cross-functional projects.
3. Create clear career pathways
   Transparency around career progression is essential for retaining top talent. Outline the steps required to move from operational roles to leadership positions. Provide regular feedback and support to help individuals achieve their goals.
4. Benchmark compensation and benefits
   Use market data to ensure your salary packages are competitive. We offer treasury salary guides and benchmarking tools to help you attract and retain the best talent.
5. Leverage external recruitment when needed
   Internal succession planning is important, but sometimes the right candidate is outside your organization. We can help you identify and recruit high-caliber professionals who align with your strategic goals and company culture.

How we can support your business with succession planning

Succession planning is a critical component of treasury team resilience and long-term success. Strong number twos are not just operational support, they are strategic partners and future leaders. Investing in their development and ensuring you have the right talent in place can make all the difference during times of change.

At Brewer Morris, we specialize in treasury recruitment across commerce, industry, banking, and financial services. We understand the unique challenges facing treasury teams and work closely with our clients to build strong leadership pipelines.

Our recruitment process is tailored to each client’s needs and includes:

• Defining role requirements and qualifications, including certifications such as CTP and CFA
• Headhunting through our global network of over 7,000 treasury professionals
• Conducting thorough interviews and reference checks
• Providing salary benchmarking and compensation guidance
• Advising on organizational structure and succession planning strategies

Whether you are looking to hire a deputy treasurer, build a succession pipeline, or strengthen your treasury leadership team, we are here to help. Our consultants bring deep market knowledge and a collaborative approach to every search.