executive profile Henk Visser's personal highlights What's NewS Issue 1 January/February 2000 embroiled in a heated discussion on subsidies - I'm still not sure which side got the best of it. After the US, Rabobank bought into Germany by acquiring ADCA Bank - according to Rt mythoiogy, it wasn't our best move. There were pros and cons. At the time, we bought ADCA because the German market is key for the Dutch economy. We feit we had to have a presence there. And acquiring ADCA did a lot to promote our international profile. But, like all the other foreign banks who went into Germany, we discovered how strong relationships were between companies and their banks. It wasn't easy to come between them. Your next move was to establish the so-called 'port strategy'. That's correct. We built a presence in all of the world's most important trade cen- tres, with the exception of Japan and Ko rea. The thinking was our role in trade fi- nance, but this initial network was also an important part of our agribusiness policy. Rabobank's international activities focused on agribusiness comparatively early. When 1 headed up the international divi- sion in the 1980s, we wrote a policy docu ment which stressed the importance of agribusiness in our international future. When 1 left international to join the exec utive board in 1990, more than half our US activities were agri-related. As you can imagine, I'm pleased to see this focus carried through in the joint venture. And to see just how highly our international network is valued by our German partner. Most of our international expansion has been achieved through organic growth. Why? You mean as opposed to acquisition? Over time, when we discussed growth, we would weigh both routes - organic and/or acquisition. The relatively few acquisi- tions we have done, such as PIBA, which I look back on with real pleasure, have been successful. But our strength has always been in 'home grown'. It is what we do best. But when you look at very specific areas of expertise, such as fund management or venture capital, then you see we have used acquisition. You don't have the same kind of(cultural) probiems with organic growth. If you have a very specific policy and strategy, then finding suitable acquisition candidates which meet your criteria is even harder. Atone time, cross-border strategy was prompted by the notion of'global serves local'. What about now? It is still relevant today, although perhaps in a different way. What is 'local'? Our customers in Latin America see themselves as 'local', so they have to receive the same service as any other local customer, wher- ever they may be located. What I would say here is that the strategie alliances in Europe were perhaps less effective in this respect. It wasn't always easy to motivate partner banks abroad. That will change through our new cooperation. I'm con- vinced that our German colleagues, and I assume the other parties who will ulti- mately join us, will be highly motivated to provide considerably better service. This move comes at a time when Rl has come in for some fairiy negative publicity. A lot has happened to Rl in the past three years. But I am still convinced that the course we chose is the right one. There is no place for an international wholesale bank which does not have a significant presence in intermediation. That is why we made the decisions we made. In my regular contacts with clients, the majority say they appreciate greatly our expanded range of products and services. From an internal perspective, I would say that ten- sion always occurs in organizations un- dergoing processes of change; I believe we would have had similar experiences with an acquisition. It is my belief that the ten- sions which did occur are due primarily to the fact that our back office activities were under extreme pressure and therefore could not meet the expectations of some people coming in. But let me add here that Rl was not the only institution which experienced difficulties. Many institutions suffered major losses and even took irresponsible risks. Rl did not. Our risk profile has always remained favourable - even in periods of strong growth. What about actual results? If you look at the numbers for 1999, then you'll see we're performing according to expectations. Again, I think the measure is how your clients see your performance. And clients teil me that they have gained added value from us in recent years. You mention your discussions with customers - you are possibiy best known for your intense dient rela tionships and your deep knowtedge of the agribusi ness industry. Why is that so important to you I have always believed that you cannot develop and pursue a strategy unless you are in regular contact with the people you are trying to service - your customers. 1 would have found it very difficult to come to strategie concepts and actions without a real sense of the market. If you are not engaged in a meaningful dialogue with your customers, if you are not listening to them, hearing and heeding their advice, then your strategy will not be effective. 1 have always been fascinated by translating customers' perceptions into strategy. You know, a bank only exists by the grace of its customers. You have to give that visible recognition. Maybe I'm an old-fashioned kind of banker. The kind who believes that a banker has to be at the customer's service, 24 hours a day. According to Visser, his almost 30 years with the Rabobank organization have comprised both huge challenges, but also a lot of fun. 'I am grateful for the great level of freedom I have always had to do the things 1 believed were important.' Here are some of them: In the past three decades, we have grown Rabobank from a primarily domestic bank with a heavy focus on retail to a financial institution whose clients - both at home and internationally - perceive us as an international player; Rabobank is one of the few financial institutions worldwide which is recognized as a true agribusiness bank; The Rabobank organization is the only non-government bank with a triple-A rating. Due to a prudent risk profile we have been able to maintain that rating very emphatically; Finally, Visser says, achicving the letter of intent agreement with our German colleagues is a truc highlight. It opens the door for Rabobank's further entrenchment in Europe. 'It may be more than 20 years after wc first launched Unico, but we got there in the end.'

Rabobank Bronnenarchief

blad 'What's news' (EN) | 2000 | | pagina 5