Rabo Securities on Track
►EAL OF THE MONTH
f
What's News Issue 5 May 1997
info exchange
15
The playersPaul Whooley,
Cian Dooley and Jim Pender
(Rabobank Ireland); Ruud
Hendriks, Chris Brandsma and
Roland Toppen (Robeco
Institutional Asset Managers
(RIAM)); and Freek Hoek
(global coördinator financial
institutions).
The origins of this transaction
lie in a business relationship
Paul Whooley
(continued from page 14)
Jim Pender
coördinator of RI's dealings
with RIAM. 'Freek actually
coordinated this whole
negotiation,' says Pender. 'He
introduced the RIAM team
and our people here in Dublin
arranged for them to do a
presentation to Trinity. RIAM's
speed of response and their
clear professionalism was
impressive.'
In fact, the meeting, including
full presentation, was set up
within days of identifying the
opportunity. 'Over a three-
week period, RIAM and
Rabobank Ireland made
further presentations directly
to the Kuwaiti institution and
built an exclusive negotiating
position with this prospective
cliënt. We managed to turn the
prospect into a mandate and
the transaction closed on
1 May - the funds are now
invested.'
The real benefits of this
transaction, according to
Pender, go far beyond the
attractive fees to be earned by
this mandate. Success in the
early period of the mandate
will give the potential for
Rabo Securities is building a
track record to be proud of.
Last month the Amsterdam
based operation placed NLG
30 million in CSS (Computer
Services Solutions) shares on
the New Market of the
Amsterdam Exchanges, the
NMAX. Coming up this
summer is an equity of at least
NLG 600 million for Nutreco
on the Amsterdam stock
exchange, the AEX. This will
possibly be the largest
placement this year on the
AEX.
REPUTATION BUILDING
Hans van der Brande of Rabo
Securities said that the CSS
placement is only the first of a
number of such introductions.
'We want to build a reputation
as an attractive partner to
work with on equity deals,' he
told us. CSS is the first
company Rabo Securities has
placed on the NMAX that is
not listed at the London stock
exchange. The floatation was
heavily oversubscribed, with
institional and private
investors from the UK and US
greatly expanded business for
RIAM with this cliënt. The
relationship developed
between Trinity and RIAM
may also deliver further
mandates and Cian Dooley at
Rabobank Ireland is pursuing
his Middle-East contacts for
similar business. 'This is an
area of the world not yet
penetrated by RIAM,' says
Pender. 'So the deal is very
good news in that sense. But
there is more. We are now also
working with RIAM on two
fiscally efficiënt structures
using the fiscal benefits
available in Ireland.'
n left
,'eld
de
also buying. CSS share value
increased from an initial NLG
17 to NLG 25.
Rabobank and Goldman Sachs
have been appointed as joint
global coördinators for the
floatation. Currently they are
handling an equity offering for
Nutreco. This company is
targeting the private investor
and says that it will strive to
protect private investor's
interests, in consultation with
Rabo Securities.
v looking ahead
June
2-6 Cient Relationship
Managers Meeting,
Utrecht
2-3 Export Finance Seminar,
New York
9-14 Team Days APFT,the
Netherlands
25-27IAMA Conference,
Jakarta
cement essential relationships. This committee will try to
strike the appropriate balance in every case.'
Last but certainly not least, the Credit Department in
the New York office is to be realigned. Credit analysts
and compliance officers will henceforth work more
Jfcflosely with relationship managers. Moreover, the core
^^membership of the New York Credit Committee will
consist of three senior professionals - Bob Benoit (chief
credit officer) plus Jeff Vollack and Ian Reece (senior
credit officers) - reporting directly to general
management.
Cian Dooley
The deal: mandate to manage
a USD 25 million European
equity porfolio with Dutch
overweight
cliënt: the Kuwaiti Public
^Pnstitute for Social Security
(the Kuwait state pension
fund)
developed over the last year by
Rabobank Ireland in an
entirely unrelated area with
Trinity, a merchant banking
boutique. Says Dublin's Jim
Pender: 'During discussions on
products which Rabobank
Ireland could bring to their
Middle-East clients to achieve
fiscal enhancements in certain
jurisdictions there, we became
aware that the Kuwaiti state
pension fund was seeking a
new manager for a USD 25
million Dutch overweighted
fund and that Trinity was
coordinating the process.'
Paul Whooley got on the
phone to Freek Hoek, the
Signing on. Fro?
to right: J. Vlasi
(CSS), G.A. Mö
(Amsterdam
Exchanges), Dil
Bruijn (Rabo
Securities) and l
van der Brande
(Rabo Securities
