New centre will ensure Huawei’s global financial dealings operate efficiently with low risk
Huawei has opened a Global Finance Centre of Excellence in London to manage “critical” financial aspects of its worldwide operations.
The centre, located in the City of London, will deal with the China-based company’s global financial compliance, liquidity management and foreign exchange risk management.
Huawei chief financial officer Cathy Meng said: “The centre will become the overall financial risk assessment and control centre for Huawei, and will help Huawei carry out consistent and low-risk financial operation globally, allowing us to continuously providing our customers with high-quality services.
“As one of the world’s key financial centres, London is in an important strategic position. The city not only has the skills and expertise that Huawei requires to realise operational excellence, but also has language and time zone advantages that make it an ideal location for Huawei’s Global Finance Centre.”
Financial Secretary to the Treasury Sajid Javid MP added: “This re-iterates Britain’s position as a centre for global finance, ideally placed for a global firm like Huawei to further its operations.”
The centre forms part of Huawei’s larger commitment to the Britain, which it said will involve investment and procurement amounting to £1.3 billion by 2017.