RuBanking: Daily Banking News
 
The UK's daily guide to the Banking industry

Home  |   News  |   Blog

Monday 15th of October 2007
October 11, 2007

RBS appoints new ABN Amro chief

by Gill Montia

Story link: RBS appoints new ABN Amro chief

Royal Bank of Scotland (RBS) has appointed a new chief executive to ABN Amro, the recently acquired Dutch bank.

The post will be filled by Mark Fisher, a member of the RBS group board. He will replace Rijkman Groenink, who resigned yesterday.

It is reported that Mr Groenink, who had supported a takeover by Barclays, will leave ABN with share options worth €26 million, although any exit payment will not be finalised until after a meeting of the bank’s supervisory board, which will take place by the end of the year.

RSB and its consortium partners have issued a statement confirming that other existing members of the ABN managing board will retain positions although responsibilities will be revised.

RBS chief executive, Sir Fred Goodwin, has put aside criticism that the consortium has overpaid for ABN. This view had been voiced by Barclays’ chief executive, John Varley.

According to Sir Fred, the synergy targets involved in the takeover are achievable and the new owners are not concerned by the fact that they have acquired ABN business exposed to capital markets at a time when global financial markets are highly volatile.

 

 Email This Post  Print This Post

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related stories to: RBS appoints new ABN Amro chief

RBS consortium revises ABN Armo bid  The consortium headed by Royal Bank of Scotland (RBS) has revised its £48bn offer for ABN Amro, t...

ABN Armo rejects Barclays and RBS offers  Barclays' bid for ABN Amro, the Dutch bank, has been rejected by the board of ABN, which has also tu...

RBS Seal The ABN Amro Deal  The Royal Bank of Scotland has today announced it has come out on top in the bid to secure ABN Amro,...

Barclays refutes takeover rumours  Having conceded defeat in its bid for ABN Amro, the Dutch bank, Barclays has dismissed suggestions t...

ABN reassures RSB consortium  Royal Bank of Scotland (RBS), which is heading a consortium making a €71 billion bid for ABN Amro,...

No Comments »

No comments yet.

Leave a comment


Previous: « GS Announces Up And Down Trading Over Q3
Next: Investment Banks Buy In To Online Trade Platform »

Visited 18 times, 2 so far today since July 12th 2007

Banking Sectors:

By company:

By organisation:

Also see: