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Looking ahead
Expansion in Singapore
You ask - we answer
2 What's NewS Issue 1 January/February 2000
Abrisk pace of change - together
with the usual degree of uncertainty
- were the twin halltnarks of 1999. But,
chairntan Hans Smits noted in his New
Year's message to all staff, we are all
aware of the necessity involved. Hence,
the reorganization now underway, both
internally, with an even more intense
focus on our core F&A business and a
more proactive style of relationship
management, as well as externally, with
our ambition to cement a far-reaching
Hans Smits forecasts the year ahead
cooperation pact with Germany's
I)G Bank. Shrewd choices are called for
in the months ahead: we intend to serve
a rigorously selccted core of internatio
nal corporate clients, and will deploy
our resources in the money and capital
markets in the most discriminating way.
Looking ahead to the opportunity
offered by our link with DG, Smits
underlined the objective of heightening
our profile on what is becoming a
genuinely pan-European market in
financial products and services.
The Monetary Authority of Singapore
(MAS) recently announced that it
would grant Rabobank Singapore a
restricted banking license, to take effect
1 October 2000. The upgraded banking
license will allow our branch in
Singapore to substantially expand
Singapore Dollar potential to its
customers and to take advantage of the
growing local capital markets.
Roelf Hagoort, general manager of the
Singapore branch, has formcd a task
force of senior managers front
commercial and treasury businesses to
identify opportunities and develop
strategies in order to capture the full
potential of the restricted banking
license. The license comes as a result of
RI's continuing commitment to the
expansion of Rabo Singapore's role as
regional hub in Asia. Several meetings
occurred to reinforce this commitment,
including a visit from Hans Smits,
chairman of Rabobank Group with
Brigadier General Lee Hsien Loong,
chairman of MAS.
The decision by MAS demonstrates
continuing efforts to open Singapore's
financial markets and to liberalizc the
commercial banking sector. The
liberalization program allows a limited
nuntber of foreign banks in Singapore
for an upgrade of their present license
over a period of three years if they meet
the criteria set by MAS.
For more information, please check yottr
public folders/Newsletters/What's
NewS/issue January/February.
Masthead
Q In the millennium flashback (10/1999),
you said the housestyle launched in 1995
was 'controversial'. Why?
A There are a number of reasons. One is
that the logo broke new ground, especialty
for financial institutions. Most bank logos are
geometrie and cold - Rabobank's certainly
was. Market research in the Netherlands
showed that recognition of the logo by
people in the street was very low. People
who did recognize it feit the old blue line
was dated and hard-edged. Everyone in the
bank agreed we needed a fresher corporate
identity that reflected the customer focus
and commitment to community. The
nickname 'guy in the pie' was actually coined
in our New York branch. At the time, Rl
people around the world were concerned
that the new logo was probably right for the
retail organization, but may not go down too
well in the corporate world. Five years later,
the new logo is very well known in the
financial world.
Q I was surprised to see you mark
London's start as 1982. As far as I
remember (and I was there), we started as
a rep in 1982, but didn't become a branch
until 1985. The pic you used was taken at
the branch opening in 1985; I am
completely sure of this as l'm standing
right behind Henk Gentis. Lynne Quilliam,
London Branch.
A You're right, of course, Lynne. The
problem is when do you start counting?
Some offices only take branch status years
after they were originally set up - so do you
count the year they became a branch, or
does the start-up count? We couldn't always
work it out either...
Editorial Staff
Coordination and Distribution
Mirjam Diepenbrock, Marketing Rl
Managing Editor Anne Lavelle
(The Write Company)
Editorial Address
Rabobank International Marketing, UC 6652
P.O.Box 17100,3500 HG Utrecht
Telephone +31 30 216 2433
Telefax +31 30 216 1976
Rabomail
Editors David Brown, Naomi LindtLisa Petrie mirjam.diepenbrockia'utc.rabobank.com
Design the writt: comfmn\ .Amsterdam
Lithography Zetterij Niek van Dijk, Amsterdam
Printing Drukkerij Cliteur bv, Amsterdam
Please send address changes by e mail to
Mirjam Diepenbrock, Marketing Rl
What's NewS is complimentary for internal staff.
Rabobank Group yearly subscription price, NLG 125
