HedgeExec provides consulting and decision support across FX, rates, and commodities. We are not FCA authorised and do not provide regulated advice.
FX · Interest Rates · Commodities

Hands-on hedging support for treasury teams who want it done properly

We sit alongside CFOs and treasurers — walking you through strategy, challenging your pricing, building your governance, and making sure you're genuinely ready before you execute. FX, interest rates, and commodities. All three.

Founded by Benjit Dhesi, former Managing Director at SMBC, with nearly two decades in financial services and capital markets.

Book a Confidential Conversation → Join Benjit's Market View

HedgeExec provides hands-on consulting and decision support. We are not FCA authorised and do not provide regulated financial advice or execute trades.

You're hedging. But who's actually on your side of the table?

Your bank sends a term sheet. Your broker suggests a structure. Your board asks if you're covered. But nobody is sitting with you, asking the harder questions — and walking you through the answers.

Is your hedge ratio aligned to your actual risk appetite — or is it something you inherited and never questioned?

Are you seeing competitive pricing across FX, rates, and commodities — or just accepting the first quote?

Does your hedging policy cover what happens when markets move against you — or is it a document nobody reads?

Could your current process survive a board-level review, an audit, or a difficult question from a new CFO?

These are exactly the conversations we have with clients every week. We sit on your side, work through it with you, and make sure you're properly set up before you execute a single trade.

Let's talk about your hedging →

How we work with you

This isn't arm's-length consulting. We get into the detail with you — FX, interest rates, commodities — and stay with you until you're ready to execute.

What you get from us

  • We build your hedging governance from scratch — or restructure what you have. Policy, controls, approvals, documentation, board-ready
  • We educate your team on instruments, walk you through scenarios, and help you understand the trade-offs — across FX, rates, and commodities
  • We benchmark your pricing independently and challenge the quotes you're seeing. You'll know if you're getting a fair deal
  • We build your RFP packs, design evaluation scorecards, and guide you through broker and bank selection — step by step
  • We prepare pre-decision packs so you're fully ready before you execute — and run post-trade reviews to keep you sharp
  • We connect you with specialist providers for execution, lending, and corporate finance when you need them

Important to know

  • HedgeExec is not FCA authorised and does not carry out regulated activities
  • We do not execute trades, handle funds, or act as counterparty to any transaction
  • You retain full decision-making authority and execute directly with your chosen provider
  • Where we connect you with specialist firms, you contract directly with them
In short: We do the thinking, the analysis, and the heavy lifting. We walk you through every step. You make the final call and execute directly with authorised firms.

What we do

Every engagement is different. We work around what you actually need — whether that's building everything from scratch or fixing one specific problem.

01

Hedging governance

We build your hedging policy, approval workflows, control frameworks, and documentation standards. If you already have something in place, we review it and fill the gaps. Designed to satisfy your board, auditors, and counterparties.

You get: A governance structure your board can rely on and your treasury team can actually use.
02

Strategy and programme design

We work through your objectives, hedge ratios, instrument choices, and scenarios with you — across FX, interest rates, and commodities. Tailored to your real exposures and risk appetite, not a textbook template.

You get: A hedging programme built on documented logic, not inherited habit.
03

Pricing and counterparty benchmarking

We challenge the quotes, spreads, and terms you're being shown — independently. We show you what good looks like and where the gaps are, so you go into every conversation with your bank or broker fully informed.

You get: Competitive, transparent pricing. No more taking anyone's word for it.
04

Broker and bank selection

We build your RFP, design the evaluation criteria, and walk you through the entire selection process — step by step. Whether you're appointing a new FX provider, reviewing your banking panel, or looking at specialist lenders.

You get: A structured, defensible process — and better counterparties.
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How it works

1

Confidential conversation

Twenty minutes. No charge. Tell us what you're hedging, what's working, and what isn't. We'll tell you honestly whether we can help — and if we can't, we'll point you in the right direction.

2

Scoped proposal

If there's a fit, we send a clear proposal: objectives, deliverables, timeline, and fee. Fixed-fee or day-rate, agreed before work begins. No surprises.

3

Delivery and handover

We work alongside you — building the frameworks, running the analysis, preparing the documentation. We walk you through everything. You own the outputs and make the final call.

Start with a conversation →

Built on nearly two decades in financial services and capital markets

Benjit Dhesi — Founder, HedgeExec

Benjit founded HedgeExec after nearly two decades across City institutions, most recently as Managing Director at SMBC, one of the world's largest banking groups, leading capital markets and treasury solutions in London.

HedgeExec exists because Benjit saw the same problem repeatedly: companies hedging without proper governance, overpaying on pricing, and making critical decisions without anyone independent in the room.

~20
Years in financial services
MD
Former Managing Director, SMBC
1,200+
Treasury professionals in the network
Follow Benjit on LinkedIn → Subscribe on YouTube →

Dhesi Market Memo

See all episodes on YouTube →

Market commentary is provided for general information and educational purposes only. It does not constitute regulated financial advice and should not be relied upon as a basis for any financial decision.

Our specialist network

When what you need goes beyond consulting — execution, lending, corporate finance — we know the right people. Nearly two decades in the market means we've built relationships with specialists across every area.

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FX, rates & payments

FCA-authorised providers for FX execution, interest rate swaps, and international payments, on request

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Lending & liquidity

Debt providers, trade finance specialists, and liquidity solutions, on request

↗

Corporate finance

M&A advisers, capital markets specialists, and structured finance, on request

How this works: We connect you with specialist firms on request. You deal directly with them — they become your counterparty, not ours. HedgeExec does not participate in, execute, or intermediate any transaction.
Referral disclosure: HedgeExec does not currently receive referral fees, commissions, or revenue share from any firm in the network. If this changes, it will be disclosed to you in writing before any connection is made.

Recent insights

From LinkedIn and the Dhesi Market Memo. Updated regularly.

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Execution vs Relationship

Relationship banking is not the problem. Defaulting execution to the relationship bank is. If you cannot separate execution from balance sheet, you cannot evidence best execution and you cannot improve outcomes over time.

Read on LinkedIn →
Margin vs Certainty

Stop negotiating margin first. You are optimising the visible number and ignoring the invisible risk. The hard conversations in treasury are not about price. They are about what happens when the funding window closes.

Read on LinkedIn →
Governance

Stop mixing operating performance with market moves. It confuses management and it produces bad decisions. Let the OpCo run the business. Let Treasury manage market risk.

Read on LinkedIn →
Risk Limits

Do not run treasury off a single view. “Rates will come down.” Even if the front end eases, you can still be exposed if the long end stays stubborn and the credit window becomes selective. Set risk limits, not predictions.

Read on LinkedIn →
FX Governance

A lot of corporates think they have an FX problem. They actually have a governance problem. When hedging sits inside the operating company, you get policy drift, inconsistent coverage, and noisy outcomes.

Read on LinkedIn →
Execution Quality

One of the most expensive treasury habits is bundling execution and balance sheet. You end up paying for credit capacity, and telling yourself it was “market.” Banks price the same hedge very differently.

Read on LinkedIn →

Guides

Governance How to Set Up FX Hedging Governance for UK Mid-Market Companies → Benchmarking How to Benchmark Your FX Provider: A CFO's Independent Guide → Policy Hedging Policy Template: What Every Board Needs to See → Selection How to Run a Broker or Bank Selection Process for Treasury → M&A FX Hedging for Acquisitions: Pre-Deal and Post-Deal Considerations → Rates Interest Rate Hedging: Fixed vs Floating and When to Act →

Join Benjit's Market View

Weekly commentary on FX, interest rates, and commodities — written for CFOs and treasurers who want a clear, independent perspective. No sales pitch. No fluff.

Sign up and get the free hedging governance checklist — 12 questions to stress-test your policy, pricing, and decision framework in ten minutes.

  • Policy documentation and board approval
  • Hedge ratio logic and risk appetite alignment
  • Counterparty pricing and competition review
  • Pre-trade decision frameworks
  • Post-trade review and reporting
  • Delegation of authority and escalation

You'll receive Benjit's Market View and the governance checklist. Unsubscribe at any time. Privacy Policy.

Start with a conversation

Twenty minutes. No pitch. No obligation. Tell us what you're working on and we'll tell you honestly whether we can help.

Book a Confidential Conversation → Email directly →

HedgeExec is a trading name of Dhesi Investment Holdings Ltd. We are not FCA authorised. We provide hands-on consulting, education, and decision support across FX, interest rates, and commodities — not regulated financial advice. We do not execute trades or act as counterparty in any transaction. Where we connect you with specialist firms, you deal directly with them.