Rabobank-sponsored Vermeer retrospective New face IN THE US AND HOLLAND people ~y~ 2 in brief WHAT'S NewS Issue 6 October 1995 On November 8, Queen Beatrix of the Netherlands will be at the Washington National Gallery of Art to open of- ficially the first-ever retrospec tive of the Dutch 16th-century old master, Johannes Vermeer. The exhibition, created by the Dutch Mauritshuis Museum, will later travel back to The Hague. From its very inception, the bank has been involved in cre- ating this unique exhibition. We are sole sponsor in the Netherlands, not only for the retrospective, but also for the restoration of two works by the artist - Girl with pearl ear- ring and View of Delft. The pictures were actually restored in full public view so that any- one interested could follow progress. The exhibition is unique in that it brings to- gether works from all over the world. Only 35 pictures are considered real Vermeers and of these 22 will form the retro spective. Astronomical in- surance costs mean it is un- likely they will ever again be in one place at the same time. The Vermeers can be seen in Washington from November 12 until February 11. They then travel 'home' to Holland for a three-month run at the Mauritshuis in The Hague. The bank has set up an advanc- ed ticket reservation scheme for the Dutch exhibition. If your office is interested in organizing a visit to the ex hibition in The Hague with clients you can contact Noor Tania at +31 (0)30 2162433. (what's in a word)- Recently appointed head of per- sonnel and organization, Flip Goudsmit (41) will soon become a familiar face for CBSers. He joins the bank from Shell where he spent 13 years in human resources. 'I not only worked in the Netherlands,' he says, 'but also in South-East Asia and Nigeria. Before moving into industry, Goudsmit taught economics for some years at senior high-school level. He replaces Harry Keizer who has been appointed head of a result-oriented management project for member banks. Argentine Operations manager Christian Czar and account man ager Marnix van Iterson join the Masthead Editorial Staff Anne Lavelle (Editor), Stan Polman (Editor in Chief), Noor Tania (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 2162083 Telefax:+31 (0)30 2161904 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. Buenos Aires office bringing the full complement up to 10 staff. Germany Thomas Diederich has been appointed trader equities and derivatives of the financial markets department. London Bas Nierop will join the London team as account manager. He comes from the retail side of the Member Bank Sector. Netherlands Senior account manager food agri Maurice Doppert moves to operations where he becomes head of product management. Formally with the operations division, Rob Niesert has been appointed manager of the corporate banking front office redesign project. Peter de Bruin joins the government and health-care team where he replaces Arnoud Dokkum who moves to the corporate finance aerospace and export finance team. Kees Oosterholt has been appointed deputy general manager of the legal and tax department and deputy general counsel. He will also be responsible for CBS support. Jaap Kool joins the international department as liaison officer for Central and Eastern Europe. Singapore Geraldine Lian joins the bank as officer Derivates Settlement, Sunil Kumaristhe new officer for Trade Com- modity Finance. South Africa Paco den Doop has been appointed representative at the bank's new office in Johannesburg which will be opening in the new year. Models are one tooi used in financial markets to predict movements. Many are devel- oped by groups of people, hence the odd.often rather long names. Here are a few of the most commonly used. Arbitrage-free model Name says it all, ie. any model that does not allow arbitrage on the underlying variable. Black-Derman-Toy model Something to play with, per- haps? Definitely, if you need a one-factor interest model where the short-term rate is the single sourceofuncertainty.ltuses 4 observed term structure of spot interest rates and their volatility term structure as inputs. Cox-Ingersoll-Ross model As above. Allows for interest rate mean reversion. It generates closed-form solutions for prices of zero-coupon bonds and put and call options on those bonds. Garman-Kohlhagen model Developed to price European- style options on spot foreign exchange rates. Ho-Lee model The first attempt ever to model movements in the entire interest-rate term structure in a way consistent with the observed term structure. Vasicek model One-factor model on interest rates incorporating mean rever sion and a constant volatility for short rates. Discount bond prices and options on those bonds can be deduced from it. Hull-White model Extension of the Vasicek model for pricing options. Main dif- ference is that mean reversion is time-dependent. Longstaff-Schwartz model A two-factor model for interest- rate term structure producing af closed-form solution for price of zero coupon bonds and a quasi-closed form solution for options on them.

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