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
