The close up: An interview with Lei Wang

Navigating risk and making confident decisions in uncertain times with Lei Wang, Group Treasury Manager at Bata

4 June 2026

7 mins

Corporate & investment bankingTransaction bankingTreasury

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Founded in 1894, Bata is one of the world’s largest footwear retailers, with operations spanning Asia, Africa, Latin America and Europe. A family-owned business with production facilities across 20 countries and a retail presence in over 90 countries, it has built a reputation for making quality footwear accessible to more than 1 million customers every day.

We recently sat down with Lei Wang, Group Treasury Manager at Bata Brands SA, to explore her journey, her perspective on risk and decision-making in uncertain conditions, and the experiences that have shaped her approach to treasury leadership.

Tell us a little bit about yourself

I grew up in Chengdu – a city that never sleeps, where shops are open 24 hours and night markets still busy at 11 in the evening. After working in China Customs, I moved to Switzerland in 2000. The first six months were a real adjustment: shops closed by six, even McDonald’s closes at ten. Twenty-six years later, I love it. When I return to China now it feels busy and hectic  – so I have become a little bit Swiss.

What I treasure most is the opportunity I have had to connect East and West, to experience and live these two different cultures in both my private life and my work. I feel very lucky.

Can you describe your current role and how it has evolved alongside changes in markets and technology?

I joined Bata in 2022 as Group Treasury Manager, responsible for cash management, FX risk, credit facilities and working capital funding globally. The global shoe retail industry in the past 4 years shifted from a pandemic-recovery phase to a slow growth period. As a group treasury manager those first years were defined by two priorities: liquidity and access to credit. Working with partner banks at group and local level, we established the credit facilities that underpinned our working capital strategy through the post-pandemic recovery.

On technology, Bata has more recently been rolling out a global ERP implementation in phases across its regions. Where it is complete, the benefits are already clear – greater cash visibility, more efficient processes and real time savings for local teams.

Looking back, what are the biggest shifts you have witnessed or experienced – and what has kept the role energising?

Personally, the biggest shift I have experienced was moving from private banking into corporate treasury. In banking, the scope is more defined; in corporate treasury you are really embedded in the business, in direct daily contact with procurement, legal, IT and finance colleagues. You must understand how the company works end-to-end, and that is what keeps the role so interesting.

I have also stayed energised by working across a variety of industries including technology, pharmaceuticals and now footwear retail, involved in various cross-functional projects such as M&A, ERP and Treasury projects in both public companies and family-owned businesses. I have learned so much from the work itself and from different colleagues in different companies.

How do you think about risk and decision-making in uncertain conditions?

Treasury requires willingness to take risk, but it must always be calculated risk. When local teams need FX hedging guidance, we gather consensus forecasts from multiple banks, review each subsidiary’s exposure and form a recommendation together – with clear explanation of why, based on their specific situation.

On a larger scale, sustained US dollar volatility against our operating currencies prompted a strategic shift: we advised our supply chain team to begin invoicing Chinese suppliers in renminbi rather than dollars. We undertook careful analysis and cross-functional discussion and the decision was made.

That is treasury acting as a genuine strategic partner, not simply managing the consequences of decisions made elsewhere.

Lei Wang

Group Treasury Manager, Bata Brands SA

Can you share a strategic challenge that has been particularly meaningful for you?

The one I think about most often was during a new entity setup in Bangladesh. We needed to transfer funds cross-border to cover start-up salaries for five or six employees. Everything was prepared correctly, but a new regulation meant the funds could not be credited in time. The amounts were not large, but the human impact was significant.

These were employees waiting on that salary for their basic needs. Working quickly with legal and M&A colleagues, the idea emerged from a colleague to ask our partner bank to provide short-term personal credit directly to the employees. Neither we nor the bank had done anything like it before. But they agreed. Salaries were paid on time, and when the transfer cleared a week later, we repaid the bank.

It reinforced that the value of a strong banking partnership is proven in the most difficult moments, and that sometimes the solution is one you have never thought of before.

Lei Wang

Group Treasury Manager, Bata Brands SA

What have your experiences taught you about building effective partnerships with financial institutions?

The supply chain financing programme we launched with Standard Chartered this year is a good example. During a regular relationship meeting, we mentioned challenges in paying suppliers from certain subsidiaries. Standard Chartered came back with a structured supply chain financing solution. Implementation of the programme was swift, and with meaningful results leading to improved supplier stability, stronger supply chain relationships and optimised working capital for Bata.

What made it work is that it was a win-win solution – for Bata, for the bank and for our suppliers. The deeper lesson is about mindset. The best banking partners think from the client’s and the end customer’s perspective.

What is one treasury innovation you wish had existed five years ago?

Artificial intelligence (AI). Treasury professionals make decisions on complex data, and AI’s capacity to synthesise and surface patterns will be transformative. The frontier I watch most closely is the convergence of AI with treasury management systems, ERP platforms and banking infrastructure. We are at the beginning of understanding what that integration could deliver, but the potential is significant.

What leadership traits are essential for the next generation of finance professionals?

Two stand out. The first is adaptability and innovation – the ability to adapt to a very fast-changing world and unexpected situations, while using new technologies to respond effectively. The second is resilience and a solution-oriented mindset. When we face unexpected situations, we must be quick to find the solution.

Understanding the problem matters, but the most important thing is taking action. And for those very early in their careers: take the first opportunity that comes to you. Do not hesitate or wait for something better. Whatever the project, whatever the colleagues, the key is to gain experience.

How do you stay informed and balanced outside of the day-to-day role?

Very simply – I walk. Our office is close to Lake Geneva, so during the working week I take a lunch break and walk along the lake. It helps me slow down, reconnect with nature, see that there is another world outside the screen, and recharge. At weekends I hike and visit art exhibitions. I particularly like traditional painting, and living in Switzerland means we are not far from many different European cities and their exhibitions.

Professionally, I stay current through the Corporate Treasurers Association and events organised by our partner banks, which provide valuable peer exchange with treasurers across industries.

What advice would you give to someone starting their career in finance?

Take the first opportunity. Do not hold out for ideal circumstances – the first experience is the foundation of everything that follows. And be brave enough to raise your hand, even when you are not yet senior. I was fortunate early in my career to have a mentor – a treasury director who guided me with great patience through a major ERP implementation when I was still a treasury accountant without an accounting background. I have never forgotten that. If you have someone like that, lean into it.

And finally, what advice would you give to women in treasury?

Treasury is a genuinely mixed profession, and I value that. But what I have observed over more than fifteen years is that women – particularly those not yet in senior positions – sometimes hold back. They have something valuable to say and do not say it. My advice is simple: do not be afraid. Even if you are not in a senior position, your voice matters and your advice can really change the thinking of decision-makers. Seek out the opportunities, contribute to industry conversations, and make your voice count.