NEW FACES
2
short news
WHAT'S NewS Issue 5 May 1997
New Vice-President of Food
Agribusiness Research in the
New York office is Joyce
Cacho, who strengthens the
F&A Research capability for
the NAFTA region (Canada,
USA and Mexico). In line with
the department's globalization
programme, Joyce will feed
information on regional
market developments into the
Utrecht headquarters, as well
as supporting the activities of
people
Brazil The Treasury department
has taken on Sérgio Kazumi
Nakashima as senior trader
money markets. Marcelo Juliani
started as credit analyst early in
April.
Germany Heino Ruland became
head of German stock broking
activities.
Hong Kong Maggie Tan was
recently promoted to senior
account manager with Corporate
Finance and IRM. Private Banking
found a new in senior investment
manager in Agnes Kiang.
Italy In April two new account
managers joined the Milan
Marketing department; Mariano
del Vescovo as senior account
manager and Andrea Giordano
as junior account manager.
The Netherlands Ton Röttjers is
returning to the Netherlands to
become manager of Structured
Finance, he leaves his post in
London as legal advisor.Thos
Masthead
Editorial Staff
Managing Editors: Vincent Pijpers
(Rl Marketing),
Paula van de Riet (RN Editorship)
Editors: David Brown, Anne Lavelle,
Nigel Morrison
Production: Len Fraser (RN Editorship)
the New York office across all
agricultural sectors in the USA.
Holder of a Master's degree in
Agricultural Economics from
Virginia Polytechnic Institute
and State University, Joyce has
just received her doctorate
from the University of
Missouri on the subject of
Agribusiness Development in
Emerging Markets and Public
Policy. She has first-hand
experience of agribusiness in
emerging markets through
working as a vegetable
entrepreneur in Zambia.
Gieskes has been promoted to
head of Commodity Finance.
Tiemen Liejh is now information
specialist with F&A research.
Danny Doesburg joined the bank
as a business analist for F&A
research. Bas Dijkman was hired
as a sales representative for
Invesment Banking. Flenk Rolvink
was taken on as B advisor with
Global IT. Bart Zwart also joined
Global IT as a business analist with
the administrative directorate.
Flarm Bodewes will become
manager of Structured Finance
from July.Theo Fleesen replaces
Harm Bodewes as Utrecht branch's
controller as of May. In his turn,
Rob Verbakei is taking over
Fleesen's job as controller for
Investment Banking, also as of May.
Flan Segaar has gone to workas a
liason officer for a number of Rl's
European offices,paying specific
attention to EMU and euro. Douwe
van der Meer has taken over from
Fian Segaar as head of Cash
Management Services. Both
started their new jobs as of May.
Paul Floffman joins us as a
business analist with F&A research.
Singapore Jessie Ng Luang
Soon joined us in April as deputy
manager of theTreasury division.
Elsie Chew Kok Yen became
Joyce Cacho, new vice president
of Food Agribusiness
Research.
senior investment officer with
Private Banking (RAL),also in April.
UnitedKingdom Marja Feddes,
previously at work in Utrecht,
joined our London branch's
Corporate Finance Syndications as
an executive.Graham Bruce
returns to Investment Banking in
London after a year in Utrecht as
senior risk analist.
HAARS LEAVES THE
BANK
Utrecht's head of investment
banking, Jan Haars, is to leave the
bank to pursue his career else-
where. Although his departure is
slated officially for August he has
already handed over his responsi-
bilities temporarily to Urecht
Branch chairman Flans Megens
and recently appointed Rl manag
ing board member Alex von
Ungern-Sternberg.Until a successor
is appointed, origination and sales
departments will report to Megens,
while trading, research and finan-
cial institutions will report daily to
Von Ungern-Sternberg.Forthe
time being, Ruut Schalij will
handle day-to-day management
responsibilities for all trading
activities in Utrecht, while Paul
Michielsen has taken on manage
ment of origination and sales.
(what's in a word^J
As Flolland gets ready to host
the European summit which
will decide the near-term fate
of the single currency, we look
at some of the terms you'll be
bombarded with by the press
in the next couple of weeks.
Convergence the process by
which according to specific
criteria the economies of EU
countries move closertowards
certain accepted limits on key
economie indicators, such as
inflation rates and budget
deficits.
Criteria for convergence
inflation the country must have
had an inflation rate which is
no more than 1.5 percent
higher than that of the three
ERM members with the lowest
rates in the previous year.
interest rates long bond rates
should be no more than
2 percent higher than the
lowest three members in the
previous year.
exchange rate the country
must have been in the normal
ERM band for two years and
not have devalued in that
period.
budget deficit must not exceed
3 percent of GDP.
debt stock outstanding public
debt stock must be less than
60 percent of GDP.
ERM exchange rate mechanism
is part of the European
Monetary System which was
set up in 1979.The ERM's aim
was to create a 'zone of
monetary stability'. Each
participant establishes a central
rate for its currency expressed
in ECUs.The widest divergence
rates are 6 percent.
ECU European currency unit,
successor to the European Unit
of Account. Launched in 1975,
it has no bank notes or coins
(except for collectors), but is a
genuine currency in
international payments.lt is a
unit of acount, a store of value
and a medium of exchange. If
all goes well, it will be replaced
by the Euro.
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.
Rl ON TAPE
Marketing is proud to present a new corporate video.This production
vividly shows the daily practise of our knowledge-driven and customer-
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to our ambitions. Unlike the Euro video (presented last month), which was
intended to inform our own people, the corporate video is an excellent tooi
for external presentation. All offices will receive a promotional copy soon.
For more information,call Marketing in Utrecht +31 30 216 2804.
