c Mandelbrot opens Rabo Olsen c Rabobank j International What's NewS Monthly internal newsletter for Rabobank International Issue 9October 1997 Professor Benoit Mandelbrot on fractals and scaling in finance. Benoit Mandelbrot, the pioneer of fractal theory, was present for Rabo Olsen's official launch of this dedicated currency overlay operation. A professor of the practice of mathematics at Harvard, Mandelbrot's presence at the opening is in line with a growing tendency to do more than speeches and toasts. Rabo Olsen organized a half-day seminar to mark the occasion with Mandelbrot as star speaker. Other speakers included Richard Olsen of the Swiss-based partner in the joint venture which handles dynamic hedging of forex exposures in investment portfolios and for corporations. Professor Kemna, director of equity investment at Robeco, also offered a presentation on the relevance of currency management. The seminar attracted around 35 clients for this very specific product; Rabo Olsen is the only Dutch company offering currency overlay on a global basis. It was something of a scoop for the Amsterdam-based operation, which also picked up further name recognition by sponsoring a guest lecture for Mandelbrot at the University of Amsterdam. in brief contents COTTON PICKIN' Rabobank New York recently co-hosted a three day GSM 102 financing seminar with ^obal cotton merchants Uilenberg Cotton Company (a subsidiary of the Louis Dreyfus Corporation) in the Chinese city of Guilin. The GSM 102 program is a USD 100 million, three year financing scheme sponsored by the US Department of Agriculture to promote the export of US agricultural goods into China. Rabobank presented to almost 200 Chinese bankers and cotton trading merchants the required treasury operations and documentation needed to achieve the maximum benefit from the GSM program. In turn, Allenberg discussed futures, hedging options and Bke current economies of the global cotton markets. 'In addition to being one of the largest participants in the GSM 102 and 103 financing programs offered by the USDA, Rabobank is North America's largest financier of cotton,' according to Barbara Hyland, New York's manager of agribusiness, commodity and trade finance. 'The seminar in Guilin helped to solidify our reputation as one of the world's leading agribusiness banks, with specific industry expertise in the global cotton sector.' HUNGARY'S OFFICIAL OPENING It's now official - as of 16 September Rabobank Hungary office (counting allready 80 staff) is open. In Budapest to do the honours were Henk Visser and Wouter Kolff from the managing board as well as network development and support's José Bours and Henk Leliveld, former leader of the team in Budapest's representative office. The opening included a press conference and two grand opening events with the Dutch ambassador and state secretary of agriculture, finance and trade in the historie museum area of Budapest. SHARING KNOWLEDGE OF WHAT'S HAPPENING HOME AND ABROAD, ANOTHER NEWS- PACKED ISSUE OF WHAT'S NEWS. Updating the change process where we stand one year on 4 Global IT online product inventory 6 Policy committees Corporate finance and international corporates 12 RaboAcademy New F&A training program 14 Talking heads On safari with Paco den Doop 16 Tamds Simonyi (chief executive officer Rabobank Hungary) left, doing the honours with Henk Visser (executive board).

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blad 'What's news' (EN) | 1997 | | pagina 1