Report of the Managing Board
FGH VASTGOEDPRIJS
FGH Bank introduced the FGH Vastgoedprijs [FGH Real
Estate Award] in 1989 as a biennial award to recognize
outstanding achievement in the real estate market. The
original concept behind this prize was to highlight business
achievement in the commercial real estate market in the
Netherlands. And 2002 also gave plenty of scope for such
business achievement, not only because it was a challenge to
develop and build in the year under review, but also because
the development and construction of individual buildings
has increasingly been superseded by the development of
whole areas based upon, or as part of, an overall urban plan.
This trend is making the market in which we operate even
more open and, therefore, all the more challenging.
On 4 November 2002, the FGH Vastgoedprijs was awarded
for the seventh time during a ceremony at the Beatrix
Theatre in Utrecht. The jury unanimously voted
Amstelland Ontwikkeling Vastgoed BV the winner of the
FGH Vastgoedprijs 2002 for its development of Forum, an
office building in Amsterdam. The jury considered that
from an architectural point of view the Forum office
building was an ingenious development, which by
consistently implementing a single vision adds value to its
environment in both aesthetic and economic terms. As an
office building, Forum creates a very open feeling,
which is partly due to the creative feature of an atrium as
the focal point of the building.
In addition to a large amount of publicity and the award
ceremony itself, which is attended by many of those who are
involved in the real estate market, the prize includes a
bronze sculpture by the sculptress Ella van de Ven.
The panel of judges for the FGH Vastgoedprijs 2002 were:
A.H. Brouwer-Korf (chairman,- Burgomaster of Utrecht),
L.C. Brinkman (AVBB/Algemeen Verbond Bouwbedrijf/
Federation of Dutch Contractors' Organisations), J. Brouwer
(former chairman of BNA/Bond van Nederlandse Arcliitecten/
Association of Dutch Architects), G.H. Hoefsloot (on behalf
of Neprom/Nederlandse Vereniging van Projectontwikkelings
maatschappij en/Dutch Association of Property Development
Companies), M.S. Riaskoff (member of the board of
Foruminvest B.V., winner of the FGH Vastgoedprijs 2000),
Th.W. Wernink (on behalf of IVBN/Vereniging van
Institutionele Beleggers in Vastgoed Nederland/Association
of Institutional Property Investors in the Netherlands),
C. van Zadelhoff (advisor to DTZ Zadelhoff) and P.C. Keur
(member of the Managing Board of FGH Bank N.V.).
STAFF COUNCIL
Eight consultative meetings were held between the Staff
Council and the Managing Board during the year under
review. Several informal meetings were also held. Co
operation between the Staff Council and the Managing Board
dining these meetings was positive and constructive.
The matters that were discussed in detail with the
Staff Council included the bank's strategy, for example,
including measures relating to improvements in efficiency
and cost control, and also various proposals and schemes
relating to personnel matters and the divestment of
FGH Real Estate Asset Management. At the end of 2002, the
members of the Staff Council were: N.V.J. Baaij (chairman),
J.D. Craanen, L.M.H.A. van Eert, A. Ras, G.H. Rijnfrank,
D.J.C. de Vries and N.H. van Wijk. M. Ponne, E.F. Smeets
and P.J. van de Weijer stepped down from the Staff Council
during the year and an interim election was therefore held
at the end of February 2002.
PROSPECTS
The abrupt end to a period of economic growth in 2001
resulted in a sharp decline in demand for funding for
commercial real estate in 2002. In our view this trend will
continue in 2003, while much will depend on developments
in the national and international arena. The organisation of
FGH Bank N.V. is prepared for the future. Customer focus,
flexibility, cost control and a balanced risk-reward policy are
in that perspective key objectives.
On 8 May 2002, Mr H. Copier stepped down from the
Managing Board of FGH Bank at his own request and the
Managing Board continued to operate thereafter with two
members. We would like to thank Mr Copier for his
commitment and his hard work.
Finally, we would like to take this opportunity to express
our gratitude and appreciation for the dedication our staff
have shown in the year under review.
Utrecht, 20 February 2003
The Managing Board
M.M.A. Better
P.C. Keur