New faces Kong CD PROGRAM FOR HONG 2 C people short news What's NewS Issue 1 January 1997 maintain a functional reporting line to Henk Visser, chairman of Rabobank Nederland's market risk management committee. In London, Robert will be an assistant general manager and a member of the branch's management team. He will be responsible for their local market risk control function. A consultant on risk management with KPMG for the past 10 years and most recently a partner responsible for the value at risk project in Rabobank International, Robert previously worked for several financial institutions. Global market risk management is a crucial discipline within the bank. The new chief for this head-office function is Robert A. Armstrong. Although reporting directly to our managing board, Robert will be located in London branch from where he will also Masthead Editorial Staff Editors: David Brown, Anne Lavelle Managing Editor:NoorTania (Rl Marketing Production: Len Fraser Editorial Address Rabobank Nederland, EO 516 P.O. Box 2215600 MA EINDHOVEN Telephone: +31 (0) 40 217 50 09 Telefax:+31 (0)40 217 71 36 Rabomail: Rabo Magazine@ico_uc@comm Internet: Rabomagazine@rn.rabobank.nl Design and printing by Hoonte Holland bv, Utrecht Please send address changes to the editorial address. Signing of the HKD 1.5 billion certificate of deposit program by Roelf Hagoort of Hong Kong branch. More signing ceremonies - this time the venue is Hong Kong and the branch is celebrating the launch of a HKD1.5 billion certificate of deposit program which is created with arranger HSBC Markets. 'This is great timing,' says Roelf Hagoort, general manager of the branch. 'We may be a Triple-A rated bank, but as we are not listed it is hard to attract funding through deposits in local currency. This CD program represents a tooi to fund in local currency so that we can meet our long-term commitments to clients here.' Luxembourg Jacques Bonnier has been appointed general manager of RabobankTrust Company Luxembourg S.A. Netherlands Reijer van Woudenbergh is moving to the middle market group. His position as head of the F&A account management team will be taken WHAT IS NEWS? We get reactions from some offices about what is being published in What's NewS and why some offices get more attention than others.The answer is that we are dependent on the information we get from the network. So if your office has interesting information for the rest of the network please contact NoorTania (Marketing Department) by telephone+31 30 216 2433 or fax+31 30 216 1976. over by Steven Spiekhout.The commodity finance team is strenghtened with the coming of Jan Willem Krens.The Utrecht healthcare team has a senior accountmanager in Michel van Schaik and the Media Telecom team was extended by the coming of Duco Hordijk. Wim Boonstra is the new head of international research. He succeeds Rens Dinkhuijsen who is leaving for Unico. His position as head of economie research will be taken by Paul van de Ven. Leendert Colijn returns to international research as country risk analyst. He used to work here before he left for RIAS. Liesbeth de Schutter has been appointed researcher for the Meat team of F&A research. United States Willem Hein van der Loo has been appointed junior account manager in Atlanta. Willem Hein comes from Utrecht and will at first be working fora halfyearin New York. (what's in a word) Mediating and negotiating mergers and acquisitions are increasingly attractive as fee- earning activities. We look at some of the terminology associated with them. Acquisition a rather more delicate way of saying takeover. Takeover speaks for itself- one company takes over control of another. But there are lots of ways to do this: Welcome takeover an offer made to shareholders in order to gain control of the company. In a welcome takeover, the target company's directors will recommend acceptance to shareholders.This is usally called a merger. Hostile takeover speaks for itself. Black, grey and white knight in a hostile takeover, the unwelcome suiter is known as the black knight. A white knight can ride in who represents a bidder who is much more acceptable to the target company.The grey knight is the most obscure as this is a counterbidder against the black knight whose intentions are unknown. Usually unwelcome to all parties. Poison pill in the event of a hostile bid, the target company can apply all manners of tactics. One can be the poison pill,an action which reduces the value of the company. Examples include selling off a prized asset to a friendly company or bank to make the resulting assets less attractive. Porcupine provisions also known as shark repellents, these are the collective name for all the range of tactics that can be applied against hostile takeovers.

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