Business Icon and Best-Selling Author Jack Welch Kicks Off AFP’s 28th Annual Conference in Boston

The Former, Long-Time CEO of GE Shares His Message of Leadership, Globalization and Values

October 21, 2007 – Boston, MA – Jack Welch, former chairman and CEO of GE and New York Times’ best-selling author of JACK: Straight from the Gut, told attendees at the Association for Financial Professionals (AFP) Annual Conference, that good leaders must have three key characteristics: authenticity, resilience and “the ability to see around corners.” He said that it is easy to see what’s coming straight on, but the challenge is to predict “what’s next, what service is needed, what product is needed, what new treasury investment to use ...”

“Jack Welch is one of the seminal figures in American business,” said Jim Kaitz, president and CEO of AFP. I am sure that this audience of financial professionals was challenged and informed by his thought-provoking insights.”

In a conversation with award-winning ABC News Correspondent Elizabeth Vargas at AFP’s Opening General Session, Welch discussed the current global economic outlook. He posited that 2008 will be a “very tough year” but said he did not expect a recession. He encouraged financial professionals to pay attention to China and India. “China and India are very important players and we have to play there … They are a positive force in keeping inflation down in this very heated moment.” In contrast, Welch expressed serious reservations about doing business in Russia. He said, “The only time you like regulation is when you go to a place that doesn’t have any and Russia is a place like that.”

In his 20 years as chairman and CEO of GE, Welch transformed GE from a bureaucratic behemoth to a dynamic and revered powerhouse. In his remarks, Welch shared his passion for excellence with the AFP audience as he talked about his experiences. Prompted by Vargas’ insightful questions, Welch told the audience that values are as important as metrics and described some of the values he sees as important. “Search for any idea anywhere. Say it like it is. See the world as it is, not how you hope it will be. Never kick anyone when their down.” Finally he reminded the audience that, “You get the behavior you want by constantly rewarding and praising.”

More than 6,000 leaders in the treasury and finance profession are meeting in Boston, MA, this week to discuss key industry issues and challenges. The AFP Annual Conference, the most important treasury and finance event of the year, offers more than 150 educational sessions featuring original, essential and unbiased information and numerous opportunities for attendees to network with peers. Featured speakers, in addition to Jack Welch, include David Walker, Comptroller-General of the U.S.; award-winning documentary filmmaker Ken Burns; presidential historian Doris Kearns Goodwin; Leslie Bennetts, contributing editor at Vanity Fair; and Gerald Corrigan, former president of the New York Federal Reserve Bank.

Following the General Session, Welch officially opened the Conference Exhibit Hall featuring more than 300 sponsors and exhibitors. The Exhibit Hall showcases innovative products, services and technologies for treasury and related disciplines.

The final highlight of the first day of the AFP Annual Conference is the Welcome Reception – held at the Boston Public Library, the country’s oldest municipal library. The Welcome Reception, sponsored by HSBC Bank, USA, NA, gives attendees an opportunity to build new relationships and reconnect with old acquaintances in a relaxed environment.

Jack Welch, who helped to open this year’s AFP Conference, is considered the most influential CEO of his era. During his 20-year tenure, GE market value grew from $13 billion to $400 billion. He is currently the head of Jack Welch, LLC, where he serves as an advisor to a small group of Fortune 500 business CEOs and speaks to business people and students from around the world. He also teaches a leadership course at MIT’s Sloan School of Management and writes a weekly column with his wife for Business Week magazine.

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About AFP®
The Association for Financial Professionals (AFP) serves more than 16,000 individual members throughout all stages of their careers in treasury and financial management. Headquartered in Bethesda, MD, AFP provides professional certification, continuing education, research, development of industry standards, financial tools and publications, training and career development and representation to legislators and regulators. AFP’s global reach includes AFP of Canada, a Toronto-based membership organization and gtnews, a London-based, on-line resource for the treasury and finance community.

AFP is the daily resource for its members to seek answers, solutions, best practices and collaboration with peers. For more information about AFP, visit www.AFPonline.org.

Note to editors: A picture of Jack Welch addressing the AFP audience is available on request. Please contact the AFP Press Room at 617.954.3460.