Rabo Securities - ON THE MOVE networking In early June, Rabobank's corporate banking division finally occupied its glittering new premises in Rembrandt Tower, Amsterdam's tallest office block. At the same time, it formally changed its name from Rabo Effectenbank to Rabo Securities NV. Andries Mak van Waav Together, these moves are a fitting reflection of the fact that the company has now firmly established its position on the skyline of Duteh corporate banking. They also symbolically mark the end of an internal transformation - first set in train by the acquisition of Swiss Bank Corporation's (SBC) Amsterdam operation last year - and the start of a new phase of growth. 'An enormous amount of energy has been put into integration of our separate corporate cultures,' says Andries Mak van Waay, who is the joint managing director of Rabo Securities together with Dick de Bruijn. 'Our move reflects the fact that the SBC- Rabo harmonization is now complete. We have established a coherent identity on which to build.' PRACTICAL SPACE The move also reflects a highly practical consideration: after delivering a solid record of accomplishment over the past year, business is booming for Rabo Securities, and the company needs space for its further development. The Rembrandt Tower - a stepped pyramidal building - is a welcome solution. 'We were invited to take a place right at the top of the building,' says Mak van Waay. 'This might've been very prestigious but we decided instead on two floors in the widest part of the base. We needed the largest possible area to construct a really practical dealing room. As you know, our traders cover world stock exchanges, options markets, futures, and over-the-counter products. It is crucial for them to have a clear and unobstructed view over all of their colleagues at all times. This way, if the Bundesbank shifts D-Mark interest rates or if the Tokyo market starts coasting up or down, everyone is immediately alert to the change.' KILOMETRES OF CABLES Hence, the decision to group all the traders on the same floor. Once this decision was taken, practical considerations prevailed. For example, high ceilings were essential because of a special cooling system and many kilometres of wires and fiber optie cables needed to support the new high tech trading consoles. There also had to be sufficiënt space to accommodate a growing number of traders: their numbers have grown by 50 percent in the last year to reach almost 60 today. When a new screen based electronic dealing system is inaugurated at the Amsterdam options exchange, moreover, Rabo market makers who now work on the EOE floor are likely to move into the Rembrandt Tower as well. OUTSELLING THE COMPETITION Over the past year, Rabo Securities has built a solid base from which to make its next bold step. Included among its recent milestones are the co-lead management of the second tranche of Royal Dutch PTT (KPN), the Vendex flotation, plus the highly successful public offering of Van Leer. The latter deal, finalized in May, unequivocally demonstrated the strength of Rabobank's placement capacity and firmly established it RABO EFFECTEN- BANK - STERK IN BEWEGING Begin juni verhuisde de Rabo Effectenbank naar de nieuwe Rem- brandttoren in Amsterdam. Dit luidt de start in van een nieuwe groeifase.Vanuit de dealing- room wordt wereldwijd gehandeld op de aandelen- en optiemarkten, alsook in futures en over-the-counter producten. De Rabo Effectenbank speelde een belangrijke rol bij de recente beursintroducties van KPN, Vendex en Van Leer. Andries Mak van Waay vindt een co-lead managers positie nog niet voldoende. Het wordt nu tijd om een mandaat te krijgen als lead manager. REB is bezig met een uitbreiding in de vorm van een eigen research afdeling, die zich zal richten op geselecteerde sectoren, waaronder Transport en IT. among the top three players on the Dutch market. Rabo Securities substantially outperformed all its main domestic competitors, it outsold at least one of the m global coördinators, and it placed over four™ times its overall underwriting commitment. PURSUING MANDATES 'These co-leads were a solid reflection of what we can do. They brought us exposure and fine-tuned our placement capabilities. Now, the moment of truth has arrived. We are absolutely resolved to win a mandate to lead.' Organizing and managing such a mandate will bring new challenges to the Rabobank Securities operation, Mak van Waay acknowledges, but it also promises to bring much higher revenue streams. As the corporate bankers are pursuing this full mandate, the rest of Rabo Securities will not be standing still. Plans call for a strengthening of its position among international and domestic institutional clients as well. Institutional research teams M increasingly need to be close to the market. Mak van Waay says; they need to work physically nearer to the trading teams. Hence, the need to develop an own research team in Amsterdam. This research team will concentrate on several selected market sectors including transportation and IT, while retail research experts within IRIS, Rabobank's joint venture with Robeco, will remain in place. REAL COMMITMENT Another change that will follow this month's move is an upgrade of the back office functions. The ratio of front to back office staff at Rabo Securities is an extraordinary three to one. 'The people we have are extremely committed and knowledgeable,' Mak van Waay says. Nevertheless, despite their remarkable efficiency, the back office i^ now operating at close to the limits of its capacity. New automation systems will help the existing staff cope with the increase in business to come.

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1996 | | pagina 6