GLOBAL CONFERENCE
Tabletalk
Bird's-eye view
Crux of the matter
(Left to right) Peter Norrie, Rutger Schellens, Maarten Rosenberg - making the connection with strategy, clients and colleagues
Integration to achieve better cross-selling opportunities was
the motivation for bringing the separately managed Capital
Markets, Investment Books and Treasury Markets together
under Global Financial Markets (GFM), headed by Rutger
Schellens, in 2002. Almost two years down the track a lot has
been achieved, ineluding the addition of Environmental
Financial Products, but integration is still on the agenda. To
increase profitability, better integration and collaboration bet-
ween us, clients, Group entities and departments is demanded.
Two events, the first of their kind, were arranged to kick-start
the process within GFM. The first was a pre-event held in
Amsterdam in late September for 50 senior GFM staff. This
event was designed as a 'test run' as well as to equip the attend-
ees as 'coaches' for the second, larger event. This was attended
by 178 people a month later on October 25 in London. The
theme of both events was 'Connect', expressing the imperative
for all involved to connect to strategy, clients and colleagues.
'GFM's purpose, as an integrated part of the Rabobank
Group, is to help be the number one Food and Agribusiness
(F&A) bank globally and the leading bank domestically,'
explains Schellens. 'We will achieve this by providing
innovative and highly valued financial markets products,
advice and solutions, through long-term trust based relation-
ships, to the Group and its clients. Furthermore, GFM's role
is to leverage its key abilities and the Group's strategie assets,
ineluding the AAA rating, RI's global presence and our
relationship with domestic and international investors, to
develop strength in niche markets, such as F&A. This is all
well and good but currently only about 10% of GFM's
business is focused on the F&A market. We spend 90% of
our time delivering advice and products to a much broader
range of clients. Equilibrium needs to be reached by realigning
or connecting GFM's activities with the Group's strategy and
wider activities.'
The core question is: how do we get from where we are now
to where we want to be? 'There are a few facts that need to
be made clear,' says Schellens. 'Firstly, the true definition of a
cliënt is where there is a dual relationship and the possibility
for more business. Secondly, we only want clients who are
strategically significant. And thirdly, management is not only
interested in the profit and loss of GFM; the franchise value
will become more important. These facts should influence how
we operate on a daily basis. For example, deals for core clients
should get more attention and pricing for core clients should
factor in a relationship element for either GFM or the Group.
14
The Word
