ATEL (Luxembourg Association of Corporate Treasurers) was created on December 19th, 1994 thanks to the ambition of twelve corporate treasurers - the founder members of ATEL.
Already in its first year, ATEL won no less than 83 members and by the end of the year 2001, its membership will have increased to more than 160 and now reached nearly 330. Approximately two thirds of its members have the status of "active members", that is, members exercising the function of treasurer within a company or an activity directly related to the treasury function. The other members have the status of "correspondent members" and are essentially bankers but also students or auditors.
Above the Board of Directors consisting of eleven members is a "Committee of Wise Men" that takes care of the preservation of the guidelines having led to the creation of the association.
Within a very short time the association was favourably received by the local financial circles. The "EURO" Round Table organised by the Ministry of Finance in 1997 had invited ATEL as the only financial association to participate in the various meetings that were organised in order to prepare the passage to the single currency.
During the years since its creation, more than 35 "Newsletters" have been published and several conferences, breakfast and dinner debates dealing with topical subjects of corporate finance have been organised.
The endeavour to open up to the outside world has materialised by the establishment of contacts and by the organisation of meetings between ATEL and peer associations, both at the European and the international level.
1999 had been a year different from the previous ones. On the occasion of the fifth anniversary of ATEL, the "Treasurer's Day" (la Journée du Trésorier) had been organised, which required extensive preparation work and substantial staff investment by the Board of Directors. Three major subjects were dealt with by big names in international finance followed by a round table dealing with the evolution of the relations between companies and banks.
In 2001, ATEL created its INTERNET site.
All the members of the Board of Directors will take care to ensure the continuance of the work achieved so far as well as of the development of the association and will try to increase its membership. ATEL will continue to supply the necessary effort to develop and maintain the relations established with various sister associations.