Q: How do the research departments strengthen
Rabobank's position as a 'knowledge bank' and affect
the way it does business?
Boonstra: Almost all of KEO's output is used by Rabobank
and its clients. We produce several publications on a weekly
or monthly basis, as well as internal documents for Rabobank
departments. We also carry out specific projects on request.
If a member bank wants a report on the iocal economy in
Rotterdam, for example, they come to us.
Van Vaals: Our research is used by commercial and credit
staff across the Rabobank network. Our publications cover all
aspects of global F&A and help to raise the bank's profile and
reputation in this sector. In general, l'd say that FAR is very
business oriented and we're often called upon by relationship
managers and product groups to make presentations at
cliënt meetings.
Q: How do the three research departments relate to
each other?
Walschots: The FMR department has a working relationship
with KEO and we regularly exchange views on different
markets. KEO takes FMR's lead when it comes to international
markets and we take KEO's lead on various aspects of the
Dutch market. KEO's research on the Dutch housing market
can be useful to our credit analysts, for example, and we
maintain a complementary relationship.
Up to now, cooperation between FMR and FAR has been
very limited, but we hope to extend this in the future. I'm
very much looking forward to this, since I believe that FAR's
research could be of high added value to GFM.
Van Vaals: I agree that cooperation between FAR and FMR
has been limited and that there is scope for more coopera
tion in the future, particularly on subjects such as biofuels,
for example. With KEO, we cooperate on some publications
and use their research in various other ways. KEO's reports
on specific countries can be very useful, for instance. On the
other hand, there are good reasons for having three separate
research departments within Rabobank, each concentrating
on its own focus area.
Boonstra: I see the three research departments as being
complementary. While we each have our own responsibilities,
there is room for crossover and, indeed, the subject of biofuels
does affect all three departments. In fact, KEO used to have a
team that researched the Dutch F&A sector, but which now
forms a part of FAR. Some of KEO's research is also very similar
to that of FMR, except we focus on Dutch markets while they
focus on international markets. We exchange information and
regularly cooperate on each other's reports.
Van Vaals: In order to present Rabobank as a knowledge-
driven F&A bank, we need to demonstrate our expertise to
clients. The papers and reports we produce have an excellent
reputation in the F&A sector and provide the bank with op-
portunities to speak to clients and drum up business. In many
cases, we also have a hands-on role in the credit application
process and our market expertise contributes to closing deals.
Boonstra: KEO's research is highly visible in the Dutch market
and we also enjoy a good reputation. Independent research
recently showed that we are the best forecaster of Dutch
economie growth and no other Dutch bank has as much
in-depth knowledge of Iocal conditions as us. Ou.r annual
booklet on the Dutch SME market is also recognised as the
best in the field. The knowledge we provide not only helps
24 The Word ssue 12 -October 2006
