Process control
Product development
International orientation
Chris Abbenhuis (54) has been with Rabobank for 17 years. For the
last seven years, he has been board chairman of Rabobank Zuid-
Kennemerland. Prior to this, he worked for Rabobank International
abroad for seven years in Argentina and Australia and fïnally as a
general manager. He studied agri-technology at Wageningen
University, the Netherlands premier agricultural centre of learning.
between our powerful position at home and our not so impres-
sive position serving clients in our foreign markets". Abbenhuis
says that "by attracting more clients with foreign activities, we
will improve our position and thus our image. We can grow in
parallel with our clients and simultaneously strengthen our im
age in this exceptionally important area".
To bridge the gap, International Services is rolling out a three-
part plan: the introduction of a new business model, the com-
missioning of new products, and bringing about the ffrst steps
in cultural change. Chris Abbenhuis sees the business model as
the key to change: 'The model foresees a structure in which we
will proactively help local Rabobanks in servicing a cliënt op-
erating abroad. One step will involve seeding existing regional
teams with international fïnance specialists.The local bank
will therefore receive a 'single trusted point of contact'. These
so-called International Desks, whose staff will work closely with
the consultants of Financial Logistics, will have a fast track open
to Rabobank International offices. In the past, the Dutch Desk
would make contact with a foreign partner bank and then basi-
cally hand over the cliënt. Our research showed that we lacked
control and direction of the process and thus had difficulty en-
suring the high quality standards we wanted to offer our cliënt.
We are now looking to Rabobank International offices to take on
a more dominant role in the process, which we will keep control
of within our own walls. One important feature is that local banks
will be able to provide more fïnance solutions using foreign
collateral." In the first instance, International Services will set up
six international desks within Rabobank International offices in
Germany, Belgium, Great Britain, France, Spain and Italy - the
countries where Dutch companies take the most new initiatives.
Parallel with the introduction of the new business model,
International Services is designing new international financing
products. For international cash management, the Financial
Logistics department has taken the lead and Rabobank - in
addition to the many facilities they currently possess - is going
to team up with Deutsche Bank. Chris Abbenhuis explains that
Rabobank will make a very high-value, multifunctional product
available in the cash management area. It is particularly intended
for business clients of Rabobank with interests in a number of
countries. Introduction and commissioning is planned for 2008.
In the same year, Financial Logistics will roll out the Rabobank
Financial Logistics Portal, with which Rabobank will be able to
serve their international clients better than it has in previous
years. However, setting up a shop with fïnancial products appro-
priate for foreign markets is time consuming. Abbenhuis explains
that "there is a mass of documentation, legal formalities and
fïnancial norms and rulings to be handled. Everything you might
need to close a complex fïnancial transaction outside your own
borders; it's varied and voluminous". Naturally Rabobank is not
the only Dutch bankto stumble across the complexity of foreign
transactions. Mark Pereira says: "It may look as if we are lagging
behind in this area but this isn't the case. For instance, in the area
of financing small and medium-sized enterprises (SMEs) abroad,
the competition also has its share of problems that are often not
solved as neatly as people claim".
International Services is currently busy staffing the department.
They are looking for commercially focused account managers
and fïnancial experts with international experience. This staff will
be partly in-house, partly external. Chris Abbenhuis explains: "In
making a success of this international initiative, we will surely
be more attractive to ambitious and well-trained people. The
introduction of the new business model and the new products
will give all our staff a strong international orientation".
When will staff and clients see the first practical results from In
ternational Services? Abbenhuis comments: 'The quality of new
staff will determine the success of the business model. By the
end of the first quarter in 2008, we should befully functional in
that sense. The international financing products should also be
ready about that time too. In view of its complexity, the Deut
sche Bank product will take a little longer, but we expect it to be
on the market by the end of 2008. So many lines are coming to-
gether and I feel it to be a very exciting process. I also know that
expectations within Rabobank are high; everyone understands
that these are complex operations, and we have to be sure these
are watertight. It takes time. If we build safely and securely, it will
be a structure from which Rabobank will literally and figuratively
enjoy some excellent new perspectives".
issue 15 THE WORD 19
