Chicago expansion After the EMS US Mid-West hit by flooding Information in news Belgian treasures Looking ahead Secret service Hat trick Staff communication magazine for the Rabobank Group SECRET ENOUGH y SECURITY Q Lmm IS YOUR RESP0NS1BILITY Rabobank North America is to open a loan production office in Chicago to serve its Mid- West customers, enhance mar- ket penetration and improve marketing effectiveness. Offi cial approval from the US aut- horities has been applied for and inauguration is slated for spring 1994. Forecasts indi- cate that some 18 personnel could be required by 1995. Devastating flooding in America's Mid-West region led the US government to declare a national emergency. Rabobank's man on the spot, agribusiness banker Larry Sidwell. puts the disas ter into perspective. 'It started with an eight to nine month period of very change- able weather,' says Sidwell. 'Usually, our main problem is drought, but this year the weat her was crazy. Sometimes we've have as much as seven to eight inches of rain in a couple of hours. This caused the ter rible flooding that was shown in the media. In terms of real im pact on our clients in the region, it's still difficult to teil what will happen. The wet spring meant that a lot of acreage wasn't planted, and what was planted is currently two to three weeks behind because of the bad weather. I can only say that there's still a chance of a fairly reasonable harvest if the next 35 days are more stable and we have a good fall and no early frost. An early frost could reduce yields substantially. 'Most of our clients appear to have come through this period fairly well. Again, it's hard to teil exactly what the fuil impact will be. Barge traffic on the Missis- sippi has been disrupted be cause of the flooding and this has meant problems for grain companies. The food and seed businesses have also been im- pacted, and the slow spring has troubled the fertilizer market. 'However, some of the compa nies which were hard hit by the Continued on page 2. Recent pressure on some European currencies leading to the broadening of ERM bands produced turbulence on the world's money markets. How ever, Rabobank's treasuries came through the shocks to the currency markets comfortably. Risk control has long been part of Rabobank basic policy, and it has paid off once again. Even at the height of EMS turbulence at the end of Juiy, Rabobank's treasuries maintained their nor- mal low-risk orientened stance. In view of expected further fluc- tuations, currency positions will remain limited until future European interest rate develop- ments can be evaluated. The foreign offices depart- ment began publishing a bi- monthly information manage ment newletter in June. The newsletter's aim is to keep staff in the international offices informed on system develop- ments both in Utrecht and abroad. Subjects covered will include EximBills, Sybase, E- Mail and all of the other types of computerization used in the bank. For a copy or more infor mation on how to contribute to or simply receive the newslet- ter, contact Sjaak Verschoor on +31 30 904788. The bank's asset and liabil- ity management is becoming increasingly fine-tuned and streamlined, as treasury man agers discovered during their recent meeting in Antwerp. Off- balance sheet products were the main focus and tools to im prove and steady performance were presented. But managers also had the opportunity to see some of the Belgian city's artistic treasures as Antwerp is this year's European Cultural Capital. A group of member banks in the horticultural region of the Netherlands, known as the Westland, is organizing a one- day seminar for its internation al clients on October 5. Spain is the chosen theme and Madrid- based Popular Rabobank's GM Arnout van Schelven will ad- dress the meeting. For more in formation, contact Peter Weber on +311740 37333. See page 4. South American clients of Rabobank Rotterdam were the focus of food and agribusiness account manager Jan van den Ende's recent visit to the Brazil office. 'The trip was hosted by our Can Do Team,' says Brazil's GM Teun de Boon, 'and was designed to maintain good relations with Rabobank Rotterdam's cus tomers here and reinforce our international networking.' Let's hope Van de Ende, who speaks fluent Spanish, only wore the hat for the photograph.

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blad 'Raboband International' (EN) | 1993 | | pagina 1