3 One of Rabobank's long-standing institutional clients is the Delta Lloyd
Group, a highly reputable middle-sized financial services company in the
Netherlands. In addition to its prominent Dutch insurance business targeting
both individual and corporate clients with life and non-life insurance policies,
Delta Lloyd is active in asset management, property and banking.
Michael Jasper
Profitable relationship
i Profitinq from mutua
u
C
overlap between Delta Lloyd's require-
ments and our offering/ says Jasper. In
addition to the solutions discussed above,
the list of services provided to Delta Lloyd
includes: government bonds, Eurobond
credit, structured transactions and repo
transactions for Fund Management,
foreign exchange and payment services
forTreasury. Further, Delta Lloyd has fre-
quently invested in private placements
and participated in tax beneficial prefer-
ence share issues arranged jointly by the
Structured Finance department and the
Sales Origination departments of
Rabobank. In addition, Delta Lloyd recently
participated in a range-accrual note with
Rabobank as the issuer.
However, the relationship is not only nur-
tured by a vast range of services. 'We have
also established a very broad relationship
from top down and at all levels through-
out both organizations,' Jasper points out.
Today, one of the key challenges for Delta Lloyd isdistribution.
Delta Lloyd has been looking to grow these capabilities in the
Netherlands through a multi-channel approach and using
Rabobank's extensive retail network. 'An important and mutually
beneficial agreement, both for us and Delta Lloyd,' says Michael
Jasper, Head of Fixed Income Sales, Benelux.
Another crucial challenge for Delta Lloyd is low interest rates and
equity prices in fund management. 'Fund management is always
looking for alternative investments that give higher yields. We
have been able to provide Delta Lloyd with interest rate and
credit structures such as Sundial and Tango (see www.ri-si.com),
where Delta Lloyd wasoneofthefirstand major participants,'
Jasper explains.
Over the last 25 years, Rabobank has developed a very close
relationship with Delta Lloyd. 'We continue to see considerable
