We have to think
of the Rabobank
organisation as
a matrix 9
S Fred We enig:
Leading by example
Second nature
Fred Weenig
Defining moments
delivering to the pillars. This cuts across the issue of whether
someone is Wholesale Clients Europe or Wholesale Clients
Netherlands. We're all part of a single team trying to create a value
proposition for the F&A franchise. We're all on the same team,
wearing the same team colours."
Van Nieuwenhuizen admits this is something that we should
deal with effectively and quickly. Rabobank's wholesale business
launched a new strategyjust over a year ago built around cliënt
focus and product leadership, but for a while the business was
still being managed 'old style', based on individual P&Ls. 'That's
changing very quickly now. We are starting to look at cliënt
income and contribution to the pillars. From my perspective,
for example, the key question is what can Professional Products
do for leadership in the Netherlands and leadership in F&A
internationally? And that's a question everyone in the wholesale
business should be asking themselves."
Howell agrees, adding that you cannot have a wholesale business
without Professional Products. If Rabobank is to become a real
all-finance player, it simply has to offer a comprehensive range of
wholesale products to its corporate clients and grow its corporate
cliënt base. "Key additional drivers are the restrictions of Basel
lil, which will pressure pure lending. The primary way in which
Rabobank will increase the size of its pillars is by selling more
products that are not capital-intensive."
To do this, Rabobank has to become a strategie partner for
its clients. Van Nieuwenhuizen: 'This will only be achieved if we
cooperate with each other more, both from a product angle and
a cliënt angle. We need to get closer to our clients. So we can
maximise the sale of products without having to invest too much
scarce funding or capital."
This all sounds remarkably logical, which raises the question of
why this level of cooperation is not already second nature. Of
course everybody is keen to cooperate, Weenig says, but it will
never become a way of thinking unless Rabobank gets incentives
right and finds a way to recognise everybody's contribution. And
he agrees that management have to set an example, by working
together more closely, rather than fighting about who gets credit
for individual wins. Weenig says that he's seen a huge increase in
cooperation in his time at the bank. Howell agrees: "Five years ago
we were nowhere on GFM cross-sell into our wholesale cliënt base
in Europe. Now we have around EUR 40 million in annual cross-sell
and we're exceeding our targets each year. Why? Because we have
set up dedicated sales teams, and started to focus much more on
cross-sell."
Another very important issue that has to be addressed, Van
Nieuwenhuizen says, is the engagement process. The largest
and most attractive deals are often the most complex. These are
defining moments for the bank's clients, especially in terms of
whether they see Rabobank as a real strategie partner. Rabobank
has to spend more time at the beginning of the process thinking
ISSUE 27 MAY 2011 RI WORLD