Talk to the Treasurer: Maarten Michalides, Head of Treasury Enexis Holding N.V.

How did you get into the treasury profession?

After completing my studies, I was keen to build a career in banking and joined a corporate banking team early on. It was an excellent starting point: a steep learning curve, strong colleagues, and exposure to a wide range of topics.

At a certain point, I started looking for more depth and new types of challenges. I found exactly that in corporate treasury. Since 2000, I have worked in five different treasury teams across various sectors, taking on a range of roles. What continues to attract me is the variety—treasury constantly presents new challenges, tackled together with your team and a broad network of stakeholders.

What are your main treasury tasks?

As Head of Treasury at a grid operator, I am responsible—together with my team—for financing, financial risk management (including interest rate and energy price risks), and insurance.

Our scope is broad: from capital efficiency, credit ratings, and investor relations to issuing bonds and debt instruments, ESG ratings, and ensuring that capital costs are appropriately reflected in regulated tariffs.

While the company is publicly owned, the core of the work is very similar to the private sector. What makes this role stand out is its contribution to a larger purpose: supporting and accelerating the energy transition.

What appeals to you about treasury?

Treasury is, to me, a continuous drive to improve—always searching for better solutions in close collaboration with colleagues, banks, and other stakeholders.

Not every effort leads to immediate change, but even the more exploratory work often delivers insights that prove valuable later on. That combination of tangible impact and ongoing learning is what makes the field so engaging.

What challenge in your treasury career has impressed you most?

A recent highlight in my current role was extending the horizon for purchasing future energy needs—implemented just before the energy crisis.

It was a decision shaped by both insight and timing, and it had a significant positive impact. A strong example of how treasury can make a real difference when it matters most.

Why is treasury such an interesting field?

Treasury becomes truly interesting when there is a clear sense of urgency to improve—and that has been present in every team I have worked with.

Across the board, I have seen the role of treasury expand in both scope and influence. The increasing complexity and continuous stream of challenges bring energy and momentum. For me, that is what makes treasury such a compelling field—one that offers enough depth and variety to build an entire career on.