New faces Ncm/^1 fW in brief What'S NewS Issue 5 September 1995 This year's erop of 10 trainees began their intensive two-year course at the beginning of this month. We thought you might like to know who's who. 1 Tjard Westbroek2 Frank Huis; 3 Menno Zetsma; 4 Ge- rard Boekhoven; 5 Luis Santine; 6 Frank van Waesberghe; 7 Chantal van Oers; 8 Willem- Hein van der Loo; 9 Laura Scha- gen; Robert Wolthuis is missing from the photo. Rabobank is to co-lead the second phase of the Dutch PTT (KPN) privatization. As well as the Dutch placement, the bank will be involved in both the UK and rest of the world syndi- cationsi'We will need the as- sistance of the whole interna tional network to achieve this,' says Dominique Bech of Rabo Effectenbank. (what's in a word)j We're staying with financial markets for this month's clutch of odd terms. Strike price: the price agreed in an option contract which gives the purchaser the right, but not the obligation, to buy or sell an underlying at a certain price on or before a certain date. Underlying: the variable used as basis for a futures or option contract. Straddle: the sale or purchase of a put option and a call option, with the same strike price, on the same underlying and expiry. Strangle: as above, but at strike prices equally out of the money. Out-of-the-money: an option whose underlying is above the strike price in the case of a call, or below in the case of a put. From 25 to 29 September, 22 new Rabobankers from 11 countries will gather in Utrecht for the so-called 'introduction week'.The five- day program will allow new staff from all over the world to become acquainted with colleagues from the various divisions. But they will also be getting back to the bank's roots through a visit to a rural member bank. people Brazil: Divaldo Barbosa joins the bank documentary payments department. He replaces Georgia Tomita who is relocating to Italy. Chile: Harry van Eelen reinforces the current two-person team as account manager. He comes from the same position in the Rotter dam office. Curaqao: Barry Marttin has been appointed senior account manager. France: Vincent Granados joins Masthead Editorial Staff Anne Lavelle (Editor), Stan Polman (Editor in Chief), NoorTania (Final Editor/Marketing Services). Editorial Address Rabobank Nederland, Piet Philipsen, Editorial assistant, UC-R 519, P.O. Box 17100,3500 HG UTRECHT. Telephone: +31 (0)30 90 2807 Telefax:+31 (0)30 90 1904 E-Mail address (for internal use only); Philipsen, P. @ico_uc@comm Designed and printed by Hoonte-Holland, Utrecht. Please send change of address cards to: A.de Keijzer, BC 102 A. the bank as head of structured fi- nance. He will also be responsible for the non-agri commercial team. Germany: Ingo Janssen becomes Institutional Sales trader at the Frankfurt office. Indonesia: The Jakarta office has a new deputy general manager in Christian Mol. Ireland: Risk manager Ethna Mur- phy strengthens the Dublin team. North America: Brian Klatt be come senior financial analyst at the Chicago office. Singapore: Lee Wah Seng has been appointed designated head of derivatives operations.The treasury also has a new senior forex dealer in Jessline Ang. Hidzer Kiewiet de Jonge joins corporate finance as manager. Switzerland: Private banking con sultant Heinz Zimmer has been appointed general manager of Rabobank in Zurich. He brings a broad range of specialized ex- perience to the bank and was also instrumental in structuring Rabobank's longer-term private banking strategy. Utrecht: Account manager Jan Leeuwenburg left the Rotterdam office. Ab Gillhaus has relocated back to the Netherlands from Lon- don Branch. He takes up a position as assistant to Hans Megens, deputy general manager interna tional, responsible for food and agribusiness. CORRECTION Due to an unfortunate printing error,a section of last issue's People column was left out. We would like to correct this mistake and apologise to the people concerned.The first few lines of the previous column should have read: Curaqao: Mario Lotufo leaves his position as area manager in Utrecht to become commercial banking officer in Curacao. Germany: Chieh-Mi Chan has been appointed DTB/OTC dealer,financial markets, Valerie Schlegel becomes head of equity derivatives, financial markets. Once again, our apologies. European-style: an option in which the buyer has exercise right only at expiration. Butterfly spread: the simul- taneous sale of an at-the-money straddle and purchase of an out-of-the-money strangle. Condor: the simultaneous pur- 1 chase (sale) of an out-of-the- money strangle and an even fur- ther out-of-the-money strangle. Black-Scholes model: the orig- inal closed-form solution to op tion pricing developed by Fischer Black and Myron Scholes in 1973. At-the-money: two types, one is a forward.the other a spot. The first is an option whose strike is set at the same level as the prevailing market price of the underlying forward con tract. Using a Black-Scholes model, the delta of a European style at-the-money forward op tion will always be 0.5.The price of the second, the at-the-money^ spot, is the same but the delta may not be equal to 0.5 as for- wards commonly trade at a pre mium or discount to the spot.

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1995 | | pagina 2