Focussed CORPORATE FINANCE 12 I r i ^corporate finance^ 1 QJ METAL MOVE WHAT'S News Issue 2 February 1996 Soption of service across the world through the network. O But more specifically, we'11 also be growing our own trade finance side. We want to make it far more profitable, but also larger so that we can service the needs of other international branches.' In commodities, Tyler and his team are gradually moving into a new area for the bank. 'That's right,' he confirms. 'We're looking very seriously at metais. We are now so mature on the soft commodity side that we have to expand and we'11 be doing metais in conjunction with the New York office. Metals is a good market to expand into because there are similarities to those we know very well. The business can be secured, there are futures exchanges where they are hedged, and there are good legal titles to the commodities. In fact, they have some advantages over soft commodities - they don't burn and they're long term.' TOP PLAYERS Tyler is not worried about any lack of name recognition when getting into this new market. 'Most people in The City have heard of the bank now,' he says. 'There has certainly been a marked improvement there. But the companies we will be targetting are top players and t many are already customers on" the soft side. Our approach will be the same as with other commodities in that we will choose the companies we want to deal with, then go out and market them. Smaller companies may be a bit more problematic, but in the end Triple-A still opens doors and gets attention.' The philosophy at London Branch appears to be that you cannot and should not aim to be all things to all clients. At the same time, the aim is certainly to provide everything the Branch can offer on a very focussed basis. Through the combination of creative ideas, ability to use the bank's balance sheet and execution skills, Rabobank is successfully winning corporate finance mandates against strong investment banking competition. This applies to each of the five corporate finance businesses in the UK - mergers and acquisitions, project finance, securitization, structured finance and syndications. WINNING M&A MANDATES Over the past year, London's M&A team headed by John Cripps has proved to be a real client-relationship builder. These relationships have been cemented by winning key sell mandates in the UK against long-established competition, as well as providing the buy side to Rabobank network mandates. The M&A network is a prime example of how the Berend du Pon 'We do this by applying real relationship banking principles,' says Berend du Pon, assistant general manager responsible for London Branch's corporate finance activities. 'By approaching our clients this way, we get closer to them and are aware of what they need. The result is you get better at anticipating and providing solutions to those needs.' combination of local relationship banking, sector focus and intensive networking can succeed. PURSUING OPPORTUNITIES A refocussed sector strategy in line with market opportunities and the bank's corporate objectives has positioned London's project finance team, led by Simon Morrison, for progress. 'We are currently adding telecommunications and health-care to our existing project finance focus on oil and gas, energy and water treatment,' he says. 'And in partnership with counterparts in Utrecht and Chicago, we will also be pursuing international opportunities.' SECURITISATION Brian James heads up London's Securitisation team which is positioned to repackage clients assets into a rated public security - which is then financed by distribution in the international investment markets. Typical examples would be trede receivables, franchises, lease receivables, financial portfolios and so on. In 1995, a securitisation vehicle was set up, called Magenta, in a joint venture with Chemical Bank which is a complete off balance sheet Simon Morrison facility for financing any form of receivable - principally through the US commercial paper market. Securitisation through Magenta is a real value-added product for clients bank-wide and we will be rolling out this product actively in 1996 through the network. We are unahle to go into securitisation in more depth due the lack of space in the UK special, hut we will come hack with a fuller report in the next issue. FLEXIBLE APPROACH Although London Rabobankers talk a lot about focus, it does not imply any lack of flexibility. 'It actually means the opposite,' says Du Pon. 'We have a specific AANPAK FOOD AND AGRIBUSINESS In eerste instantie werden met name de grote corporates benaderd. Een aantal jaren geleden startte kantoor Londen ook met een afdeling die zich op de middenmarkt in deze sector richtte. Door de grote overeenkomsten en de toegevoegde waarde die het biedt, zijn de twee afdelingen nu samengevoegd. Ben Davies, hoofd van het F&A-team, verwacht met deze aanpak de goede resultaten die men nu behaald nog verder te verhogen.

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1996 | | pagina 12