People 2 International International networking pays off Capital markets <elebration Television promotion in China ISSUE 33/1 9 SEPTEMBER 1994 Brazil Sao Paulo account man ager Ricardo Fleury Lacerda (left) has been accepted into the graduate program of New York's Columbia University to pursue his MBA degree. He requested a sabbatical from the bank to fol- low his studies and this was grant- ed. According to the Can Do team, they look forward to seeing their new MBA graduate back in the office in December 1995. Executive assistant Astrid Cal- lenbach has gone on maternity leave but will return in February. Until that time, she will be replaced by Ahuva Markovitz Belfer. London The treasury has a new corporate dealer. James Arnold joined the bank on August 5. David Roche was appointed manager of the commodities and trade finance department on September 1. Secretary Chris Hitchcock left on August 5. North America Ten new Rabo- bankers joined the New York and Chicago staff over the sum- mer. Keith Bigwood was ap pointed vice-president and mortgaged backed specialist in the treasury department. He comes to the bank from Tucker Anthony. Formerly with Fuku- toku Bank, Ronald Cutro strengthens the corporate ser vices department as senior loan processor. Rudy Espinosa was with IBJ Schroder Bank and Trust before taking up his new position as vice president, foreign exchange in treasury. Michael King is Chicago-based vice president and account man ager. He gained his banking ex- perience with Citibank, Con tinental and BZW. The foreign exchange department has a new documentation clerk. Zoraida Astacio comes to the bank from Allied Irish. Luis de Leon brings experience from Doral Inn Hotel and Forest Group to his position as general services clerk. Assis tant vice president and senior fi nancial analyst Robert Sarlis built his experience at Citibank and ABN AMRO among others before joining Rabobank. Nilsa Ramirez joins the bank as credit department file clerk/typist from David Green Associates. Luis Santine completed his MBA with The American University in Washington, D.C. before being appointed an associate in the corporate finance department. Assistant vice president and senior financial analyst Gregory Mojica will be joining the Chicago office from the First Chicago Corporation. All ap- pointments are effective. In an almost classic example of CAM networking between a foreign office, headoffice and a strategie alliance partner, Rabofin Italia has been instrumental in winning a major contract from Dutch multinational DSM for Cariplo. The new multibillion lira agree- ment between strategie alliance partner Cariplo and the DSM concern is currently in the final stages of implementation. DSM, which has a number of activities in Italy, was looking for a lira clearing. 'Four banks had been invited to bid for the contract,' says Roland van Limburg Stirum of Rabofin.I nitially, Cariplo was not included, but as we were well known to the concern in the Netherlands, we were able to convince them to allow our Italian partner to bid. As Rabofin Rabobank is the fifth most frequent borrower using the Europ Medium Term Note program, and has recently increased its ceiling to a significant ECU 6 billion. The increase was cause for celebration and the structured funding team invited its 'arrangers' to the Netherlands to help mark the occasion. A short item on Rabobank is to be included in a four-part documentary series on the Netherlands to be broadcast by China's SCTV station at the end of September. Gateway to Europe: The Nether lands, its economy and culture is designed to provide Chinese TV audiences with a more accurate view of the country than the tra ditional image of clogs, tulips and windmills. Rabobank will be featured in part three, which focuses on the Dutch economy. The item includes an interview with investor relations manager Freek Hoek in Utrecht's dealing room and a short discussion with Sjouke Postma on trade relations between the Netherlands and China, and on the bank's Far- Eastern network. The backdrop for the Postma interview is the Port of Rotterdam and includes footage of the Rotterdam office. The opportunity to participate in the documentary, which will also be broadcast via China Satellite at the end of October in both Mandarin and English, comes at an important time for the bank. The initial transmission on Chinese television coincides with preparations for the launch of the new rep office in Shanghai, and will certainly add to name recognition among potential and existing Chinese clients. The second broadcast, which can be seen throughout South-east Asia, should have a similar impact. The talk is all capital markets, but the venue bears little resem- blance to the staid locations where brokers from houses such as Goldman Sachs, Lehman Brothers and Swiss Banking Cor poration usually do business. In fact, a traditional Dutch sailing boat on the IJsselmeer Lake is a far cry from the financial districts of London, Zurich and Paris. But this was, after all, a celebration, and the brokers took to sailing like the proverbial ducks to wa ter. Brokers play a major role in plac- ing Rabobank paper, and are particularly important when it comes to the EMTN program. 'This program is a really useful tooi for us,' explains head of der- ivatives and structured invest- ments Jan Sijbrand. 'A normal bond issue requires an awful lot of legal paperwork and docu mentation. In contrast, the EMTN acts as the basic docu mentation and we can then fill in specifics. It saves us a lot of is a finance company, we were not in a position to compete our- selves, so the next best thing is to try and channel the business to a strategie alliance partner.' What DSM needed was a cash management system that would automatically zero balance its operating accounts on a daily basis and regulate cash flows from and to its central coordi- nation centre in Belgium. 'We acted as intermediaries between the two parties,' Van Limburg Stirum explains, 'and assisted them at the presentation of their bid. It was finally accepted, and IBS people then went to the DSM coordination centre and briefed the staff there on the Cariplo system. So, you see, we have been involved at every stage of the process.' Up until this major deal, Cariplo and Rabobank's alliance had been fairly low-key. Says Van Limburg Stirum: 'We waited a long time for a major joint activ- ity, and I can only say it really was worth waiting for.' work and also has the advantage of flexibility in that we can tailor the terms of the loan to the lender's needs using derivatives.' The lender would usually be foreign institutional investors who often have very specific re- quirements. 'One requirement would tend to be a Triple-A rating, that's of critical importance,' says Alex Spain of Lehman Brothers. 'While Rabobank is not the only bank with this rating, we often call them first because we are sure of a rapid response. The lines of communication within the financial markets depart ment are extremely short, so we know we'11 get an answer fast.' All the brokers agreed Rabobank paper was easy to place. 'Rabo bank has immediate name recog nition among European retail in vestors,' explains Martin Scheck of SBC. 'The bank has worked in the various markets for a long time and has built up a lot of goodwill and respect for the pro- fessionalism of its structured funding operation. Rabobank's targets are more aggressive than many other Triple-A rated insti- tutions, but it's highly respected and has an incredibly efficiënt funding operation, so everyone makes money, including us.'

Rabobank Bronnenarchief

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