Information New faces THE KEY TO ADDED VALUE 2 F&A Research in South America people ƒ- short news WHAT'S NewS Issue 6 June 1997 (what's in a word}- When the Russian representative office was launched lastyear, only one international Rabobanker waved the flag in the network - Ludmila Kubanova. Now, however, we have become a three-strong presence in the Russian capital as Alexey Belyayev (left) and Rodolphe Evangelisti join the bank as deputy generaI managers. Alexey (30) is a Russian national and comes from the Interstate Bank for the CIS where he was advisor on international banking. Previously, he held a cluster of senior positions, such as director oftreasury and board member at the Tveruniversal- bank. Rodolphe (31) is French and joins us from Paribas where he was deputy representative for their Moscow branch. For more on the Moscow connection, see page 13. What happens when a European farm owner - maybe a French wine maker or a Dutch dairy farmer - wants to take over a comparable enterprise in a South American country like Chile or Brazil? Or if a food processing company plans to start a new operation in one of those countries, and needs to find the right location and set up its supply and distrihution lines? Or if a local entrepreneur wants to finance a major new investment in his business, maybe to start up an activity at a different level of the production chain? In each case, they will probably consult their bank at an early stage for advice and support. If that happens to be a Rabobank branch, they are likely to have a head start in terms of information and local know how, thanks to the strong focus on Food Agribusiness research in the region. "Our strength is the ability to offer real added value to our customers by providing detailed information on the local F&A markets. Based on that information and the know-how behind it, our consultants and account managers all over the world can give their customers accurate and up-to-date information about the latest market developments", says F&A Research team member Sylvia Maria Verheijden, who is based at the Sao Paulo office in Brazil. "In addition, when it comes to providing services like financing facilities, consultancy or M&A, our detailed knowledge of the F&A markets in many cases helps us to create made-to-measure packages that closely meet the needs of individual customers." (continued on page 3) Germany - Simone Claus and Elke Piereder are leaving their jobs with the Frankfurt Corporate Sales team, and the bank. Hong Kong - Hemal Khanna joins our bank as investment officer with Private Banking.The Credit depart- ment welcomes Ellis Chen, their new senior risk analyst. William Moore became head of Logistics 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) 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_ef@comm Internet: Rabomagazine@rn.rabobank.nl Design and printing by Hoonte Holland bv. Utrecht Please send address changes to the editorial address. and Planning earlierthisyear. Italy- Mariano del Vescovo joined our Milan Branch as senior account manager. Singapore - Victor Ang Kim Huat will join us as senior manager and head of Credit. Victor is leaving his post as senior credit risk manager in the Deutsche Bank's regional head office. Peter Tang Chee Wye joins us as senior project manager with Corporate Structured Finance. Tong Cheng Leong left the OCBC Bank to join us as investment settlement assistant for Operations (RAL). Netherlands - Anton van Etten is returning to the Netherlands from Singapore, where he was a current option dealer. In Utrecht he will take on the job of Fra and futures trader Sybren de Hoo joined the bank as manager of strategie sustainable development with Corporate Finance. Also joining us at Corporate Finance is Henk Groeneveld, now senior manager structured finance. Douwe van der Meer has a new position as head of Cash Management Services. Doreen Philips-van den Heuvel has been promoted to senior relationship manager financial institutions at Investment Banking. Spain - Joachim Krinke of the Paris Treasury department is leaving for Madrid and the Popular Rabobank'sTreasury department. United Kingdom London Branch) - Alastair Johnston has joins us as senior manager of international corporates with the Relationship Management Group. Diane Kayne signs on as associate director MTN/asset packaging for Invest ment Banking. Administration's ranks are strengthened by Natalie Driver who is now operations assistant with the settlements department. Our new director of Eurobond sales at Investment Banking is Julia Barnaby. Michael Townsend joins us as associate director of structured finance at Corporate Finance. EU and EMU focus on Holland is reason enough to give you a few more of those typically Euro-style words. Subsidiarity is a word coined by the Maastricht treaty and which you'll be hearing a lot this month. It means that decisions of any significance on Europe should be 'taken as closely as possible to the citizens', ie. where appropriate by regional or local authorities and referendums. Stability pact name says it all. This pact is designed to ensure that EMU countries cannot endanger the monetary policy of the ECB through sloppy budgetting. ECB The European Central Bank's function is clear but it has yet to be established. Currently,the European Monetary Institute is the one to watch. However, once in place, the ECB's primary objective will be price stability. Monetary policy definition is decided by a council of governors while broader economie policy is determined by Ecofin.the council of EU finance ministers. NCB national central banks of EU member states.They will contribute the ECB's capital and reserves - ECU 5 billion and ECU 50 billion, respectively. Current reserves of all 15 central banks in non-EU currencies total ECU 200 billion (mostly USD) plus gold reserves of ECU 100 billion. EMI the European Monetary Institute is the forerunner to the ECB. lts role is to develop measurements of various criteria which are crucial to convergence, but also to the value of each currency after EMU.The Institute is located in Frankfurt - much to British dismay - and is headed by Wim Duisenbergwho will probably be president of the ECB when it is set up and opens for business on 1 January 1999 in this German financial centre.

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