info exchange
Smoothing the conversion
Electronic
window
new faces
What'sNewS Issue 10-October 1
Getting together in anticiaption of the euro
Some 62 Rabobankers converged in
Utrecht to thrash out the final details
surrounding the imminent launch of the
euro. The gathering was addressed by Rik
van Slingelandt, acting chairman of Rl
managing board, who underscored the
vital importance of getting set for a
smooth transition. In January, interbank
transactions and financial markets will
switch to the new currency regime.
Attendees came from all affected
the smooth shift in our interbank and
cliënt payments systems, the re-
denomination of accounts including
securities and private banking accounts,
and the conversion of our reporting
systems to local and central regulators.
A decisive test will come next month
when the entire euro payments network is
to be hooked together. Interfaces between
correspondent banks, local and central
authorities, and the financial markets will
be tested in a final dry run. 'In a network
of this size and complexity, everybody has
to do their homework: we are a team and
we all depend on each other,' Reusch says.
The euro introduction combined with
concerns associated with the so-called
'YK2' or millennium bug, have prompted
the release of a new software system:
Rabo Telebanking for corporate clients.
The software, which manages the all-
important interface (or electronic contact
point) between ourselves and our
corporate clients, has been described as
'an electronic window to the professional
payment and information services of
Rabobank International.' It will make it
possible for corporate clients to make
both domestic and cross-border payments
denominated in euros as well as guilders
starting January 1999. A financial modul^^
will provide them with real-time ex-
change rate information on the euro, as
well as euro-linked interest rates. The
overall program has been modified with
user-friendliness, security, and year 2000
concerns in mind.
European
offices, plus
New York,
Hong Kong,
Rabo Securities,
private banking
(IPB), and IT
system projects
(Olympic,
ATLAS, and
Opex among
them). The
session also
included players
from credit risk,
NDS and
control. The
project was led
by coördinator, Hans Reusch, and
included members of the Euro Flying
Squad (FES) team. 'On January 4, the first
working day of next year, everything has
to be in place,' says Reusch. 'We're now
moving into the last phase of testing our
systems and making sure not only that
they work, but that we have good
contingency plans against any unforeseen
events. The team spirit so far has been
outstanding.' Key priorities are to insure
Five new management trainees
have joined our international
network as of September 1. The
new team has begun theyear-
long Rabobank integration
program. They will be followed
early next year by another five
budding new management
trainees. This year's new faces are,
left to right: Annette Terpstra,
Marius Kerdel, Josien Sluijs, Frank
Claassen, Luuk Heuskens.
As chief
economist
and global
headof
research for
the Rabobank
li Vi 'J Group,
Sm I London-based
HungTran HungTran
joins us - complete with an
impressive list ofcredentials.
Vietnamese-born, Tran studied in
the US before beginning his climb
up the global financial markets
ladder. By 1987 he started what
amounted to over a decade of
service with Deutsche Bank,
beginning in New York as research
head of global fixed income, then
moving onto Frankfurt as the
managing director of Deutsche
Bank Research. Tran's last move
before Rabobank was a three-year
stint in Singapore as Deutsche's
head ofequities forAsia Pacific.
Now onboard with Rabobank,
Tran's experience promises to add
vaiue to our already brawny
Masthead
research team. Something ofa
specialist in global economie and
investment strategy, including the
Asia emerging markets and his
home country Vietnam, Tran views
the move to Rabobank as 'exciting,
particularly the implementation of
the global investment banking
strategy.'FUs newly developed
position will be two-fold, firstly to
coordinate and streamline our
research efforts and, secondly, to
market research in line with our
customer demands.
Editorial Staff
Editor in Chief Noor Tania-Stein (Marketing Rl)
Managing Editor Anne Lavelle (The Write Company)
Editors David Brown, Samantha Dobson
Production Len Fraser
Editorial Address
Rabobank Nederland, EO 516
P.O.Box 221, 5600 MA Eindhoven
Telephone +31 (0)40 217 50 09
Telefax +31 (0)40 217 71 36
Rabomail whats news@rn.rabobank.nl
Design the write company, Amsterdam
Lithography Zetterij Niek van Dijk, Amsterdam
Printing Drukkerij Cliteur bv, Amsterdam
Please send address changes to the editorial address
