RICO - ON COURSE FOR TEAM WORK Rabobank International What's NewS Issue 11 December 1997 The first ever Rabobank International Conference, dubbed RICO, was all about team building. It's not that international Rabobankers have little experience in putting together effective multidiscipline teams to build cliënt value. The idea behind many of the activities at RICO was to launch the integration process of a new and potentiallv large group of co-workers - the investment bankers. During team events at both the conference location of Noordwijk and at the outdoor and subterranean activities in the historie fortress at IJmuiden (of Dutch Hoogovens fame), old Rabobank teamed up with our new colleaques to show just how easy winning can be if you join forces. The first ever RICO was also the longest senior management gathering in RI's history. Because of the significant changes brought about by the now well- advanced development into a corporate and investment bank, the thinking was that we need time to network and integrate - more time than the usual day and a half of old-style general managers' meetings. More in our special on page 7. RICO participants spearbeading towards an event in team-building on the historie IJmuiden fortress. in brief )- contents 100% RABOBANK Word has been out for some months, but news of the official sign over is hot off the press - Iollowing necessary Spanish pproval, Rabobank Madrid has acquired Banco Popular's 50 percent share-holding, effectively terminating the joint venture and instead making our Madrid office wholly Rabobank owned. According to general manager Arnout van Schelven, the handover was entirely amicable and the move is seen as positive, 'since we now have all our eggs in one basket. The reason for the buy- out,' he continues, 'was a Arnout van Schelven - heading the news of Rabobank 's Banco Popular buy-out. difference in opinion over the direction of the bank's future. The commitment to F&A, Dutch companies and existing clients were always undisputed issues, but Rabobank wanted more added value; we wanted to expand on our existing target groups. Our views on risk were also sometimes not parallel.' Yet, far from animosity, the move is 'merely an adjustment of an existing good, and to date successful relationship between Rabobank and Banco Popular,' continues Van Schelven. It is both's banks intention to continue to work together on the Dutch desk and additionally, our strategie alliance with Banco Popular in retail banking will also continue. TURKISH DELIGHT It was out on the Reuters wire even before our lawyers in Turkey received the news - Rabobank International had been granted a banking licence by the country's President, rather than through the more normal central bank channels. The whole of RI's senior management cheered the news announced at RICO last week. 'This is great,' enthused general manager Henk Adams. 'Once we are up and running, which will take about six months, we will be able to offer a full range of products to this market.' These include local currency lending, money market products and investment banking business. 'The Turks were clearly looking for full commitment from us. That is what they will get.' Over the next few months, Adams will be building the Istanbul team. Between 25 and 30 new international Rabobankers will be recruited within the coming year. AN EXTRA FAT ISSUE OF ON THE SPOT REPORTING Global IT - new innovations one yearon 3 Working relations - healthy feedback from Canadian cliënt 4 RICO special - new style team gathering 7 Private banking - the latest policy plans 16 Gilde - fitting into RI's product offering 18 Talking heads - Frits Mönking on Mexican challenges 20

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