Dutch corporate
TREASURERS - THREE TO ONE
Unico partners in NIOC deal
WHAT'S NEWS Issue 12 December 1996
working relations
3
A forum for the exchange of know-how and experience in the increasingly
complex business of corporate treasury is a necessity rather than a luxury. But
even though the Netherlands is noted for its strong complement of top
(multinational) corporates the idea of three such forums may seem a little
excessive. Reason enough for the three to merge at a special meeting of the
newly-formed DACT (Dutch Association of Corporate Treasurers) hosted by
Rabobank International in Utrecht.
'Given the size of this country, it is
surprising that over time three "bodies"
fcmerged,' confirms Steven Spiekhout of
corporate banking who was active in the
creation of DACT. 'But the three were in
fact more ad hoe than anything else.
DACT is the first-ever official association
and as hosts of this debut meeting, we
decided to make it a real occasion.' he
profession.
BIG THREE
The event attracted over 200 corporate
treasurers to the launch of DACT, which
is sponsored by Holland's big three banks,
ABN Amro, ING and, of course,
Rabobank International. As sponsors,
each bank can nominate a representative
in the Advisory Board which acts as
touch-stone for DACT's own board,
which includes treasurers from corporates
»ueh as KLM Heineken, Sara I.ee/DE and
ension fund PGGM. One of the smaller
Dutch banks asked if it could also be
represented: 'No,' replied KLM's
corporate treasurer. Rob van der Burg:
'We only deal with the three biggest
banks. If you want to join up, you'11 just
have to grow.'
TRAINING FOCUS
Rik van Slingelandt will represent RI in
the advisory board and he was also
chairman of the inauguration which was
turned into a seminar to mark the
occasion. This is in keeping with DACT's
Monday December 9 marked the next
stage in task force progess as the managing
board of Rabobank International got down
to the business of frameworks and
structures. Look out for a new Task Force
Update scheduled to appear very soon to
keep you up to date.
aim to promote, stimulate and develop the
profession. With the projected launch of
the Euro as theme, participants had
enough to discuss on a professional level.
'But it was also something of a social
event,' says Spiekhout, a relationship
manager who fully understands the
importance of networking. 'However,he
adds, 'another of DACT's stated aims is to
initiate and maintain contacts with
training organizations and bodies which
can advance professionalization. We
Strengthening cliënt ties throngh association -
senior corporate treasurers in the bank: KNP
BT's Frans van Westen and KPN's Willem
Ackermans (standing): Bart Langeveld and
KLM's Rob van de Berg (seated).
believe that the Rabobank Academy will
have a role to play here - a prospective
cooperation that has already been
suggested to DACT and should develop
into something more concrete in the near
future.'
For some years, Unico-the umbrella organization of eight leading European cooperative banks -
has maintained a representative office in Iran.This local presence has borne fruit in a number of
ways and most recently in the signing ofa classic USD 150 million crude oil export prefinance
facility arranged by Rabobank International. The cliënt is the National Iranian Oil Company (NIOC)
and out of this facility they will open L/Csforthe purchase of agri-commodities destined for its
domestic market.
The elegant thing about this deal,'says relationship manager Hans de Jong, 'is that we have been
able to compile a list of preferred suppliers.That means our whole network can benefit potentially
from this deal.l'm thinking here about, say, rice from clients in the Far East.'Although the
agreement is actually between NIOC and RI, Unico partner banks DG and RZB also co-signed the
transaction as participants.'Essentially, the fact we were all around the table is an indication of the
Unico "spirit" of the deal,'De Jong explains.'Both partner banks will play significant roles as
co-arrangers/co-underwriters of this NIOC transaction arrange by RI.'
Hans de Jong
(starting left),
International Trade
Finance, Willibrord
van Nierop, Legal
Department, Gerd
Wolf, Unico Rep in
Teheran, mr.
Moussavi, NIOC
and mr. Ghadiri,
NIOC, during the
final details of the
contract.
