Tokyo rises to the occasion
in brief
contents
A Rabobank /nternational
Rabobank
Monthly newsletter for Rabobank International fQf j H t fl QI USB Otlly Issue 4 April 1999
DLL in major
US acquisition
International
Bank holiday Target
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What'sNewS
The latest addition to our
network in the Japanese
financial capital became official
early this month. With a team
of almost 50 and headed tip by
joint managers Nobuyuki
Mokkoh and Freek Hoek, the
opening by executive board
member, Henk Visser, was
more a formality than a true
launeh. The team has been
operating in the Japanese
market since last August,
servicing both domestic
financial institutions and as a
key part of our own global
financial markets' network.
Even though Japan's prospects
have hardly been positive in
recent years, this remains the
world's largest savings market
and one of the most important
financial centres. Rabobank
International's presence there
opens up significant
opportunites, especially for
global financial markets
transactions. The Tokyo
office's strategy has been
carefully defined to reduce risk
in an often volatile market
environment. Unsurprisingly,
the now almost traditional
opening 'conference' for clients
and prospects had the theme
'Global economie outlook as
challenges to Japan's
restructuring efforts'.
Hammering home the Rl message - as befits an F&A bank, we launch our
Japanese operation by breaking open a traditional barrel of sake
De Lage Landen has further
strengthened its leading
position in the field of vendor
finance by acquiring Tokai
DLL's new Philadelphia office
Financial Services (TFS), the
Japanese Tokai Bank's US
leasing company, for USD 410
million per I April 1999. The
acquisition is part of DLL's
international strategy which
focuses on growing its vendor
finance business: Rapid
growth will be achieved both
autonomously and through
acquisitions. This specific
acquisition gives DLL the
opportunity to expand its
services in the US. The move
is of strategie importance as
both TFS and DLL focus on
international vendors who
increasingly need professional
assistance in finding financial
solutions for their distribu-
tion. TFS is a leading
provider of private label
leasing programs in the
technology (ie. office
machines and teleeom
equipment), banking and
health care industries in the
US. The vendor finance
activities of both parties
complement each other well:
one TFS cliënt group,
producers and buyers of
medical equipment, is also an
important Rl target group.
Clients of both organizations
benefit from the substantial
presence of DLL in both
Europe and the US. Head-
quartered near Philadelphia,
TFS employs 600 people
throughout the US and
manages a portfolio of LISD
1.6 billion. After the
acquisition, DLL will employ
1,800 staff and have a
portfolio of USD 5.6 billion.
Our branches in Paris,
London, Frankfurt, Dublin
and Utrecht are now
operational on all opening
days, including bank holidays,
of the new European pay-
ments systent, Target: a
skeleton trading staff is at
work in the dealingroom,
investment banking services
support trading and settlement
traffic, and in cash
management services and
trade services. The first extra
opening days occurred over
the Easter holiday, and the
operation was subsequently
evaluated for volume of
business and system support
required. In the Netherlands
branch, extra staff was indeed
justified to accommodate
business in foreign payments
and foreign exchange.
Budget results Rl
- judging our progress 3
Credit risk - reshuffling limit
management 4-5
Fixed income - the credit factor 5
International services
- a unifying approach 6-7
Core sector advisory
- Consulting the experts 7-8
Marketing Rl strengthening
corporate identity 9
Health care conferences
- gaining exposure 10
Y2K - listing the risks 11
The back page
- M&A in the network 12
