Man at the top
m
12
talking heads
What's NewS Issue 9 September 1996
For most of us, tax and all its implications holds a
terror rather than a fascination. Many of us
recognize its potential as an intellectual exercise
that can challenge the mind. But very few of us read
new tax legislation for pleasure. Corporate finance's
Willem van 't Hooft may no longer head up the
bank's tax department, but he's stiil very much the
taxman.
None of the Talking Head
managers we've interviewed
spoke easily about their
personal lives. But none was
perhaps quite as diffident as
Willem van 't Hooft. He was
perfectly easy to talk to when
it came to his job in corporate
finance - he no longer has
responsibility for the bank's
tax department which he was
instrumental in setting up
around 15 years ago. And he
was equally forthcoming when
describing how tax legislation
can be used effectively to
structure useful transactions
for both the bank and its
clients. But Willem van 't
Hooft and his personal life -
well, that proved a different
matter. Unless you stuck to
your guns, he was back with
business like a shot.
So what did we actually find
out about Van 't Hooft? Well,
he's a family man - in more
ways that one. 'I was born in
Breda in the south of Holland,'
he says, 'the fourth of 11
children. After school, I did my
military service and went on to
university where I studied
economics. In your third year,
you could choose for
specialized fiscal...' Yes, but
wait a minute, Willem. What
about in between?
Van 't Hooft senior was the
financial director of a
machinery factory, so is that
where he got his skill with
figures? 'It's very nice of you to
say so,' he laughs, relaxing a
little. 'A lot of people think I'm
good at figures, but I'm not.
It's more a matter of being able
to analyse legislation, rules,
and understand how you can
use them creatively. What I
enjoy is looking for windows
of opportunity. For that you
need good team players, and
we've got them. I think that's
the precondition for success.'
Does he think growing up in a
family of 11 taught him team
play? 'That's a good question,'
he says, thinking hard. 'I'd say
yes. When you grow up in a
large family, you are less
individual. You depend on
each other. From a very early
age, you learn to make use of
each other's talents, then one
plus one is three.' Team
playing at the Van 't Hooft
house also meant making
music together. 'Perhaps
individually we weren't very
good,' he admits, 'but if we
played together, it sounded like
something. Music is an activity
we share in my own family.
Sietske, our eldest girl, plays
piano, Malou, the middle
child, flute and I strum the
guitar. My wife Kitty sings
very well - which is fortunate,
because I'm terrible. Our
youngest, Rogier, who is four,
isn't involved yet.'
Van 't Hooft sees playing
music as a way of spending
real time with his family. 'We
also love skiing,' he says, 'and
we have a place in France
where we spend our summer
holidays. But everyone tends to
do their own thing there -
sunbathing, reading. That's not
exactly doing things together.
Skiing is great in that sense. If
you have a good slope, then it
is a challenge for all of us. At
weekends, I try to do some
work in the garden. That I do
alone, if possible. It gives me a
chance to wind down. Then
we'11 do something active with
the children. My wife and the
girls are great readers. But if I
think about it, 1 much prefer to
be outdoors - cycling, maybe
playing tennis. Again, I think
spending time doing things
with the children is really
important.'
He grins almost boyishly. 'I
think my wife may have
something to say about the
efficiency of my time
management. There is what
appears to be an eternal
dilemma between organizing m
your working life and your
home life. We still live in Breda
- it is not that far from
Utrecht, but it still takes travel
time. We love the theatre, but
it's often hard to be
spontaneous about things like
that. Something comes up at
work and you want to see it
through. Now, we've taken a
subscription to seven or eight
performances over the coming
year at the new theatre in the
city. I can build my diary
around those dates - and that's
respected at the bank. You
have to plan these things and
that is the dilemma - strict
planning in your private life is
almost a contradiction in A
terms. It is the same with the
children - they don't have
needs by appointment.'
Music, skiing, theatre,
gardening, tennis, French, but
also Italian food - Van 't
Hooft describes them all as
hobbies. 'But if I'm honest,' he
says, 'I'd have to include tax
legislation as well. 1 just like it.
I haven't practiced
international tax law for six
years now, since I moved to
corporate finance. But there is
a lot of tax involved in my job,
so I keep up with new
developments for that reason
too. 1 read the journals and I
enjoy exercising my mind witl^
the opportunities new laws
could represent. I think I'm a
solution person. A lot of
people see fiscal rules and
regulations as problems. But
every problem has a solution if
you think creatively enough
about how to tackle it, if you
can get past the rules to reveal
the underlying framework, the
structure. My new
responsibility within
Rabobank International means
I'll be managing the group
focused on international
corporates. What we have to
do is merge the know-how in
our corporate banking and
corporate finance divisions. As
a real team-player, I can only
say it will be fascinating to
create a new cooperation
between the two.'
