Colin Powell Calls on Financial Professionals to Exhibit Leadership, Ethics 

In a Speech at the Association for Financial Professionals’ Annual Conference, General Powell Says Good Leaders Must Be Worthy of Trust

October 9, 2005 – San Antonio, TX –– Former Secretary of State, General Colin L. Powell, U.S.A. (Ret.) speaking to the more than 6,000 treasury and finance professionals attending the AFP Annual Conference, drew parallels between the trust that exists between a general and troops and between a finance leader and staff.

"Great leaders are almost always great simplifiers," he said, explaining that it's not enough, in business or on the battlefield, to simply have a vision. Great leaders must find a way to communicate the mission so that it is perceived at all levels of the organization. General Powell said, "At the best organizations I have been in, everyone has a common purpose." Speaking directly to the financial audience, he said this is a process that "pays dividends."

The General, winner of two presidential Medals of Freedom, also said great leaders give selflessly to their organizations with both physical and moral courage and aren’t afraid to “look reality in the face.” He charged AFP Conference attendees, who managing trillions of dollars through the global financial markets each day, to provide the vision, training and resources needed to run sound companies.

“It is rewarding to hear a leader of General Powell’s stature recognize the importance of moral courage in business leadership,” said Jim Kaitz, President and CEO of the AFP. “General Powell reminded us that trust is the foundation for all successful endeavors.”

The General pointed out that the impact of globalization and technology is changing how business operates. He told the AFP audience that despite changes in the world it is critical that we in the United States “remain a generous, welcoming, open people.”

A native of Bronx, N.Y., Powell became the 65th secretary of state in 2001 under President George W. Bush, retiring from that post earlier this year. Before becoming Secretary of State, he was chairman of the Joint Chiefs of Staff from 1989-1993. Powell served 35 years in the U.S. Army and served as a key aide to the Secretary of Defense and as National Security Advisor to President Reagan.

Active in promoting volunteer opportunities and community involvement, Powell was the founding Chairman of America's Promise-The Alliance for Youth, a national crusade to improve the lives of America's youth. He also has served on the Board of Trustees of Howard University, the Board of Directors of the United Negro College Fund, the Board of Governors of The Boys & Girls Clubs of America, and as a member of the Advisory Board of the Children's Health Fund.

This month General Powell’s book, My American Journey, won the French Alexis de Tocqueville prize, which honors an influential political work. The selection was determined by jury that included former French president Valery Giscard d'Estaing.

More than 6,000 leaders in the treasury and finance profession are meeting in San Antonio this week at the AFP Annual Conference to discuss critical issues facing treasury and finance professionals. More than 150 educational sessions and workshops are being offered on the key issues and over 250 exhibitors are showcasing the latest products, services and technologies for the treasury and finance profession.

The Association for Financial Professionals, headquarters in Bethesda, Maryland, supports more than 14,000 individual members from a wide range of industries throughout all stages of their careers in various aspects of treasury and financial management. AFP is the preferred resource for financial professionals for continuing education, career development, certifications, research, representation to legislators and regulators, and the development of industry standards. Sponsored by the Association for Financial Professionals, the CTP designation is the globally recognized industry standard for treasury and a requirement for a changing profession. More than 16,000 professionals have earned AFP’s certification since 1986. For more information about AFP, visit www.AFPonline.org.

Note to editors: A picture of General Powell addressing the AFP audience is available on request. Please contact Allan Jordan at 917-881-4845 to receive the photo.