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WHAT'S NewS Issue 2 February 1996
LONDON BRANCH'S
FAMOUS FIVE FOX
HILLS
Cross-selling
Return on solvency
Sector specialization
Adding higher value
products
Sense of urgency
the five key concepts on their
sereens every time they switch
on their computer terminals.
We have had a tremendous year
in 1995. Financially, we are up
70 percent over 1994 and
equally important, we have
grown in terms of skills and
teamwork. Our excellent results
reflect the quality of our
professionals and how we have
implemented the Five Foxhills.'
TREASURY
SOPHISTICATION
One result of this refocussed
approach was the
transformation of London
Branch's treasury. 'When I
arrived here in early 1993, we
had a treasury with about 18
positions led by John Brown.
He'd been doing a tremendous
job on basic products for seven
or eight years. We decided it
was time to move into more
sophisticated areas, such as
derivatives. John was a few
years from retirement age at
the time and he suggested we
bring in someone who could
move us into the next phase. So
the two of us went looking for
a new treasurer with the skills
we needed. Finally, we found
Mark Blundell who now heads
up our new treasury. But let
him teil you about that himself.
John moved over to lead our
risk management department.'
GIANT DEAL
The branch has also seen a
broadening of its activities into
other focussed areas. 'Just take
corporate finance,' Van der
Schrieck says. 'We have a team
in place now that has just done
the most profitable deal ever by
one of Rabobank's international
offices. In addition to doing this
extremely complex deal, they
have also arranged key
transactions for a number of
UK clients. There are two
reasons for this success. The
first is that we have the people,
the second is the intense effort
we have all put into marketing.'
WORD OF MOUTH
ICI is a case in point. Although
the giant deal closed by
structured finance was for the
bank's own funding, the team
has also presented it to
corporates. 'It's very much
applicable to them,' says Van
der Schrieck. 'We got a call
from ICI out of the blue. It
turned out they had a new man
in their treasury who
had come from a company
where we'd proposed this
particular structure. Now, we're
selling this and other structures
left, right and centre.'
DEPTH OF EXPERTISE
If structured finance is seen as
typically a locally-oriented
though specialized activity,
Van der Schrieck believes it
makes sense to centralize
certain cross-border activities
and products in locations
where there is a depth and
range of expertise. Forfaiting
[see What's NewS, 2/95] is a
prime example. 'But so is
securitization,' he says. 'This is
Europe's securitization centre.
This is where the know-how is.
In fact, Brian James, who's in
charge of securitization here,
did a great deal with Larry
Sidwell of the Chicago office
last year. We also did a deal in
Spain and we're working in
Italy at the moment.'
ESSENTIAL
COOPERATION
Syndication is another area
where London Branch feels it
can play a strong role in the
network on a European level.
CBS has already decided to
centralize syndication activities
in London because almost all
deals in this area are done in
The City. 'We've also got into
asset packaging,' says Van der
Schrieck. 'Mark Blundell's
team is already working
closely with Singapore and
they're delighted we've got
into this. It's in areas like this
that you see just how essential
cooperation is for the success
of the bank as a whole.'
F&A FOCUS
Many of London
Branch's not
inconsiderable efforts
are focussed on
providing service to
other operations in
the network. But the
bank's core business,
F&A, remains also a
major element in
London Branch and
also the Edinburgh
office's activities.
'What we want,' Van
der Schrieck
explains, 'is to be in
a position over the
coming years to offer
our F&A clients all
possible and available financial
products. And by all products
we mean everything from equity
to senior debt, from
sophisticated derivative
products to structured finance.
That is our philosophy. In other
key areas, such as health-care,
pharmaceuticals, and so on, we
think we should offer those
products that are suitable for
each individual sectors. And not
to try and do everything
immediately. If we are to
achieve that, then we have to
work very closely together so
that our commercial people are
equipped with all the know
how they need to show
corporates what we have to
offer.'
MORNING PRAYERS
Van der Schrieck sees his team m
as a single, coherent group of
expert professionals, rather
than numerous separate
sections or departments. 'And
that is how they work together.
It's one of the main reasons I
think we have been and will
continue to be successful,' he
says. 'We don't want to be an
enormous player in the
market. What we do want is to
work together and focus on
cliënt needs. I'd say my biggest
activity is making sure our
people remain motivated. The
days when the third floor had
1985 - Henk Gentis does the honours in
London.
no idea what the second floor
was doing are long gone. We
have a very new management
team. We start every morning
by having a cup of coffee
together. In typical British
fashion, these meetings soon
came to he known as
"Morning Prayers". At some
point, we decided to meet only
twice a week. But after a
while, people said: Can't we go
back to every day? If we are to
continue to bring in the results
we've achieved together, then
we need this communication -
at all levels in the Branch, and
throughout the network. Let's
just say it's another of our
areas of focus...'
Kantoor Londen werkt niet alleen samen met andere kantoren, ook intern is de samenwerking optimaal. Van der Schrieck ziet zijn
team meer als één grote groep professionals dan een verzameling aparte afdelingen. Men weet waar collega's van andere afdelingei
mee bezig zijn. Iedere morgen begint het managementteam de dag gezamenlijk met een kop koffie, de zogenaamde 'Morning
Prayers'. Dat komt de communicatie binnen het kantoor ten goede.
