1996 - MILESTONES
12
info exchange
What's NewS Issue 12 December 1996
Investment Management also joined the
Group. Advisory service RIAS, once part
of the bank, then independent, came back
into the fold as a fully-fledged department
of RI. The Group also took a 5-percent
stake in Triodos, a dedicated 'green' bank
that is also growing strong in the
Netherlands.
NEW PRODUCTS
Rabo Securities - formerly Rabo
Effectenbank which acquired its new
name in June - has had a busy year. It
launched two new products - the sticky
cap floater (January) and the synthetic
convertible bonds (first in January). Two
new funds were also launched in 1996,
specifically aimed at IPB development:
the Holland Fund and the Select Fund
(April).
TRIPLE A RATING
Triple-A stays Triple-A. The run-up to
annual credit rating from agencies like
Moody's and Standard 8c Poor's is always
nerve-racking: will be make it again? The
answer for 1997 is: Yes, we will. In late
November, the top agencies all rated
Rabobank Triple-A.
IN THE KNOW
We pride ourselves on the knowledge
available to our clients, especially in F&A.
This year was no exception when it came
to dedicated studies from the Food
Agri-research department. The following
studies were published in 1996:
Sugar and sweeteners
Poland
Seeds
Cotton
Thailand; Malaysia; Indonesia; India
and Vietnam
Beer
The past year has been highly significant for the development of
Rabobank's international activities. In a sense, you could say that
1996 was the year in which we came of age.The former Central
Banking Sector (CBS) gave way to a new, independent organization -
Rabobank International - and the cliënt focus strategy designed to
carry us well into the 21 st century was initiated throughout the ever-
growing international network. What's NewS looks back on some of
the highlights that marked the year gone by.
NEW IN THE NETWORK
1996 was again a year of expansion for
the network, but perhaps the most
significant addition was Utrecht Branch,
which joined the rest of RI's international
offices on October 1 when head office and
branch activities were officially separated.
Other key developments were:
- Chile (January)
- Rabo-BRP - Poland (May)
- Atlanta (May)
- New Zealand (October)
- South Africa (October)
- Budapest (December)
IBP EXPANSION
The international private bankers moved
Rabobank into the bigger league by careful
acquisitions. A whole new team was
recruited for the Far East and is headed up
by Chris Hayes. In Zurich, IPB activity
grew strongly. Most recent acquisition
(October) is the Gutzwiller Partner
Grüppe following the take over of the
Austrian GiroCredit Bank's Swiss
operations last spring. The IPB IT centre of
competence was again working hard for
the network - the dedicated team brought
Singapore's Olympic system on-line in July.
GROWING STRONG
Perhaps the single most significant
development in terms of growth through
acquisition for the bank this year was our
50-percent stake in Robeco, the asset
management house. But other events
shouldn't be forgotten here. Gilde
Chris Hayes - recruited a whole IPB team
Poland - its official.
Rabo Securities Andries Mak van Waay.
