Canadian F&A:
Forecast 97 in Antwerp
Thrusts into New Territory
International
MOVEMENTS
WHAT'S NewS Issue 3 March 1997
info exchange
9
Rabobank International's North American operation is on the verge of a
thrust into lucrative new territory - and hopes to open an office in Toronto
later this year. 'The agribusiness, food and forestry markets are both vital and
substantial in Canada,' says Augie Braaksma, who wili head the new
operation. 'Moreover, it is an attractive market to clients from developing
countries who want an alternative to American suppliers. For these and other
reasons, we believe Canada offers appealing prospects for growth.'
Augie Braaksma:
'Canada offers
appealing
prospects for
growth.
CHANGING LEGISLATION
As for the timing of this event, Braaksma
reports, 'We are in close contact with
regulatory authorities. We are constantly at
their disposal to answer questions, and we
very much hope to receive our license
approval by July 1.' Formally, the Toronto
office was to have the status of a stand-alone
subsidiary, as required under Canada's
current banking law. Spurred by the GATT
and NAFTA trade agreements, legislators in
Ottawa are in the process of opening most
^fef Canada's markets and revising the rules.
^^Chile negotiations are still underway to
enable foreign banks to open branches, these
have yet to clear internal hurdles; in the
meantime, however, authorities are
interpreting existing rules more flexibly.
SMALL BUT EFFECTIVE
Once, for example, it was necessary for
subsidiaries to operate their own treasury
operations and stand-alone mainframes;
now, the Toronto office will probably be
allowed to tap into the existing global
infrastructure of Rabobank in order to
support its own treasury and computer
operations. Braaksma, who is already
traveling and laying the groundwork for a
number Canadian deals, is adamant about
starting with a small office and a modest
staff of seven to 10 personnel. 'We intend to
be lean and mean,' says Braaksma. 'The goal
isn't necessarily to focus on extending credit,
although we will of course do that as well;
we also see strong opportunities in M&A,
trade and project finance, stable value
products, financial advisory with private
placements and syndications, plus tax-
related structured finance and derivatives.'
F.l.t.r. Chris De Vos (Rabobank
Antwerp), Walter van Mieghem
(Rabobank Antwerp/Utrecht)
and Wim van den Goorbergh
executive board, Rabobank
Nederland).
The Antwerp version of 'Forecast 97' last month was very well received by the business
^immunity in Belgium. About 150 of Rabobank Belgium's top clients came to hear the forecast
on interest rates and growth.The bank initiated an update of the information contained in
'Forecast 97'by Rabobank International in Utrecht last December, which mainly meant adjusting
it to current market conditions. Any international offices interested in having their own 'Forecast'
for clients next year should contact Maarten van den Bergh on +31 (0)30 216 23 31.
International Rabobankers are moving
fast, not only in business but also as far
as their quarters are concerned. Here's
un update.
RABOBANK GUERNSEY LTD.
P.O. Box 348
Holland House
1 St.Julian's Avenue
St. Peter Port
Guernsey GY1 3RF
Telephone and faxnumbers remain unchanged.
RABOBANK, M0SC0W REPRESENTATIVE
OFFICE
Troizkaja Street 17
129090, Moscow
tel. +7 095 721 1984
fax+7 095 721 1985
RAB0-BRP BANK POLSKA S.A.
Aleja Jana Pawla II, nr. 25
00-958 Warsaw 66
P.O. Box 75
Poland
tel.+48 22 653 40 00
fax+48 22 653 40 04
RABOBANK IRELAND LTD.
George's Doek House
International Financial Services Centre
Dublin 1, Ireland
tel.+353 1 60761 00
fax+353 1 67017 24
RABOBANK INTERNATIONAL, MEXICO
REPRESENTATIVE OFFICE
Bosques de Alisos 47-B Piso 2
Bosques de las Lomas
05120 México, D.F.
México
tel. +52 5 2610 000
fax+52 5 2610 061
RABOBANK INTERNATIONAL, HONG KONG
BRANCH
42F 43F Two Exchange Square
8 Connaught Place
Central Hong Kong
Telephone and fax numbers remain unchanged.
AUSTRALIA AND ITALY HAVE NEW PHONE
NUMBERS:
PIBA +61 2 92344200
Rabo Australia 61 2 9221 9999
Rabobank International,
Milan Branch +392725 21 81
