Jack Welch Kicks Off AFP's Annual Conference

BOSTON -- 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.

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 http://www.AFPonline.org.

SOURCE Association for Financial Professionals