Antwerp on
the move
Now there is a Rabobank in
Spain too
Rabo
band
After a difficult start, almost 5
years ago, things are looking
up for the Antwerp Branch.
Last year there was consider-
able investment. The Branch
has been expanded, furnished
with a dealing room and has a
new computer. The General
Manager, Jacques Jansen, de-
scribes the situation in Bel-
gium.
This month Rabobank is opening an office in Madrid. In charge
will be Maus Barendrecht, who untii recently headed the North
and South Europe Desk. Before he left for Spain we asked him
for some details on the background to the setting up of this new
office.
Issue 4/September 22, 1989
mjr ou must make sure that invest-
ments meet with success', de-
clares Jansen. 'Fortunately, this
has been the case. We are now firmly be
ginning to establish ourselves: both growth
and profit are clearly moving in the right
direction. We are well above the budgeted
figures.'
Successor appolnted Jansen has
been appointed Regional General Manager
at Eindhoven as of January 1. in Antwerp
he will be succeeded by Karei Plasman,
who is at present head of Commercial Ser
vices. Jansen remarks: 'He has worked
here for almost three years. The transfer
should not be a problem. Plasman is Bel-
gian. Antwerp will be the first foreign
Branch with a General Manager who is not
Dutch.'
Staff When the Branch in Belgium
opened, product specialists were em-
ployed. Increasingly, more people came to
work under them and they had to become
managers as well. Says Jansen: 'They
were experts in their field, but manage
ment was new to them. In co-operation
with training experts from Rabobank Ne
derland we have created a management
training programme.' 'Here, foreign banks
as employers are regarded with suspicion',
explains Jansen. 'The opportunities for
promotion are limited because the man
agement usually comes from the country
of origin. Furthermore, a bank occasionally
closes. That is a handicap if you want to
attract good people. I think we have
demonstrated that we are doing well.
There is some degree of internal reorgani-
zation taking place at the moment. This
has a positive effect.'
Flanders and Wallonia Belgium is di-
vided into two parts. The north - Flanders
- where Dutch is spoken, feels strongly
tied to the Netherlands and Germany. The
French-speaking south - Wallonia - on the
other hand, focuses on France. Not only
the language, but also the mentality in
both parts of the country is very different.
Says Jansen: 'This calls for a special ap-
proach. A Dutch bank located in Antwerp is
regarded with suspicion in Wallonia. That
is why we have account managers who
Jacques Jansen: We are well above the
budgeted figures.
speak fluent French and are familiar with
the mentality. From an economie point of
view Wallonia is less interesting, with the
exception of Brussels. We very much want
to establish an office there, it is one of our
plans for the future. This is partly because
we will be running into problems with ac-
commodation here. There is room for 56
people and we already have 51. Our pre
sent premises are splendid and ideally lo
cated. A lot has been invested, so we
would rather not move. An office in Brus
sels is a logical step. It could become a
so-called Loan Production Office.'
Not only agribusiness In Jansen's
view there is less co-operation with other
Rabobank offices abroad than was expect-
ed. 'I think this is because the markets in
which we operate are so different', he ex
plains. 'For this reason there is not always
much exchange of information, 'scratching
each other's back', if you like. Contacts
with other offices are good, but limited.'
The agricultural sector, for instance, is not
the most important sector for the Belgian
office. Only a quarter of the total activities
is in this sector. 'True, when we started
we were involved principally with agribu
ness', explains Jansen. 'That was what we
were set up to do. But we rapidly dis-
covered that the market was not simply
waiting around for us to arrivé, and that
the agri-market in Belgium was limited. We
therefore began to broaden our market.
We drew up criteria which companies had
to meet, such as having a minimum
turnover and exporting or importing to or
from countries where we have offices. For
in that case you can offer interesting prod-
ucts. Our Dutch Desk does a lot of can
vassing for customers. There are still
many banks in the Netherlands not making
optimal use of our international banking
network. We pay them a visit and point out
the possibilities to them.'
n actual fact the clients of the local
banks were behind the setting up of
the office. It was obvious from their
questions to their local Rabobank and the
Dutch Desk in Utrecht that there is great de-
mand for the services of an office on the
Iberian Peninsula', explains Barendrecht.
'Spain is becoming a very important trading
partner within Europe. During the first five
months of this year total Dutch exports to
Spain increased by 80%.' A feasibility study
was carried out by different departments of
Rabobank Nederland, something which is
done for every country where Rabobank may
be planning to establish itself. On the basis
of this report the Executive Board and Board
of Directors decide whether to go ahead with
the plan. A new office usually has the status
of a representative office, often as a prelimi-
nary to becoming a full Branch.
The practical problems Barendrecht:
'Then a budget is allocated and the practical
problems begin. How do you find an office,
how do you get good personnel, what else
do you need? Wherever you go this is differ
ent. At present Rabobank works closely with
local advisors in the setting up of an office.
The same has been done in Madrid. We
agreed with Peat Marwick on a list of condi-
tions and requirements and with this they
set to work. They take care of all permits,
applications, make appointments with real
estate agents and search for staff etc.'
Very quickly The plan to set up an of
fice in Madrid was given the go-ahead in
March. 'In April we were in Madrid making
the first arrangements with our advisors',
says Barendrecht. 'We found office space
next to the Parque de Retiro, just behind the
Prado Museum. As it was an apartment,
architects had to be called in. They do the
refurbishments as a turn-key project. In
other words, they take care of everything
from the alteration work to the purchase of
office equipment. For our part this means
that we don't need to travel back and forth
continually and are not troubled with deliv-
ery problems etc. In this way we can con-
centrate on the commercial preparations
for the office. We hope that all we need to
do is put the plugs into the sockets.'
Barendrecht starts with a secretary of
Dutch origin, Fredericke Wyt, and will later
be joined by an assistant.
Spain and Portugal An increasing num-
ber of clients of member banks are doing
business with Spain. Says Barendrecht: 'To
give an example, there is a Dutch company
that raises plants in the warm Spanish cli-
mate and then sends them to the Nether-
