'I
GMC 1993 - Talking progress
Rabo
Sydney revisited
People
The full complement of general managers met in Utrecht for five
days of intense discussion and interaction on the international di-
vision's established aim - becoming the world's number one food
and agribusiness bank.
Issue 18/June 21, 1993 band
Following the recent announcement of
Sydney's official upgrade, GM Jos van
Boxel was eager to talk about new de-
velopments within the Australian office.
'We've had a presence in Australia for al-
most five years now,' he says. 'The classic
Rabobank philosophy is not tojump in with
both feet, but to test the waters first. When
you're comfortable in the new environment
and business culture, you can then take off.
Rabobank also tends to enter new regions
anti-cyclically. When others are puiling out,
we move in. That has certainly worked in
Australia. Now that the national economy
here is picking up again, we are well placed
for a flying start.' Since the office was set
up, Sydney Rabobankers have looked to
Singapore for support. T can only say
they've been great. We get real feedback
from the people there. When your own oper-
ation is small - there are currently only four
of us - credit manager Lisa Evans, secreta-
ries Lorna Clark and Lyn Kierulf, and myself
- then it's essential to be able to bounce
ideas off colleagues in other offfices.' Small
is beautiful in Sydney, but Rabobank will be
growing now the upgraded company has
been officially registered. 'We can start of
fering regular banking products, like direct
lending, trade finance and derivative treas-
ury services. To make these work, we'll
need people, so we're in the process of re-
cruiting an operations manager, in the near
future we'll be looking for a senior account
manager, and, of course, Chris Abbenhuis
will bejoining us in September from Utrecht.
But I doubt the office culture will change as
we grow. Our basic approach is that the only
things that count are loyalty, efficiency and
getting the job done...
Van Boxel - on top of the world
North America Michel de Konkoly Thege
has been promoted to deputy general man
ager-risk management. He joined the bank
in 1986, and took up his new appointment
in May this year. Corporate finance officers
Christiaan Kortlandt and Susan Casper
both joined the bank from ABN/AMRO on
April 30. Anthony Monaco has been ap-
pointed manager collateral inspection, ef-
fective from January and Joseph Insinga be-
came special asset manager on May 12.
an overbanked world. In the past decade, we
have seen chaos on the international bank
ing scene, but the problem here is that,
while we could have expected bad or
troubled banks to disappear, they are all still
there - often assisted by government.
Harsh competition 'Because the
world is overbanked, competition is stiff.
And there are a number of global trends -
some positive, some negative - that require
our focussed attention. The corporate world
is going through a very difficult period. Re-
structuring in the US is ongoing, Europe still
has to start, and in the Far East there is only
a vague realization that it may be necessary.
Add to this factor the deepening German
recession, a weak Latin American situation
and the further collapse of the former USSR
and you'll understand how important it is for
us to remain focussed.'
Consolidation On a more positive
note, Van Slingelandt pointed to abundant
Van Slingelandt: 'Many banks often growth jn South-East Asia and slow, though
lose out because they lack focus...apparently promising growth in the US. But
he warned that even though lucrative op-
The program was a heavy one for the
26 GMs attending the annual con
ference. Each of the five days was
packed with meetings, lectures, discus-
sions, external visits to regional banks and
even a CAM cliënt presentation. In opening
the meeting, international chief Rik van
Slingelandt stressed the importance of
Rabobank's foreign network of offices and
branches. 'When Rabobank became inter
national,' he said, 'there were numerous
possible philosophies and strategies for
foreign development. Many had merit, but
after the initial stages there was a realiz
ation that we, as a bank, had something
very specific and special to offer markets
worldwide. This realization resulted in the
push towards food and agribusiness which
became our official policy in 1988.'
Growth In the ensuing five years, the
international division has grown rapidly and
forecasts indicate that over the next three
years a further 10 offices will be opened.
And as the division grows, it becomes in-
creasingly important for the bank as a
whole. 'It is because of that importance that
we have to examine precisely where we are
going,' said Van Slingelandt. 'In the early
days of our international operations, we be-
gan as lenders with some treasury prod
ucts. Today, as we become more mature
and have broadened our product scope to in-
clude private banking, trade and corporate
finance, we need to create a more focussed,
more refined and more defined approach to
cost efficiency and synergies.'
Difficult world These were the three
leitmotivs running through the whole confe
rence. 'We're not living in an easy world,'
Van Slingelandt said, touching on social
problems in Europe and the difficulties sur-
rounding GATT negotiations. 'And it is also
Mönking - Mexico office: 'l've always
thought meetings like this were really
productive. You get feedback and view-
points from people working in all kinds
of different environments and mar
kets...'
portunities may present themselves in sec
tors outside the range of Rabobank exper
tise, the policy defined in 1988 should re
main the main focus. T have new ideas
every day,' he said, 'and l'm sure you all do.
But if you're forever changing policies, you'll
drive your people nuts. What we should be
doing at this stage is to work calmly on re-
fining and consolidating the policies we have
and are gradually developing. There are real
advantages in following this course:
- cliënt recognition
- risk containment
