Commercial linchpin Rabo Securities Rabobank Group Annual Report 2002 'We in Corporate Clients serve the corporate market. As account manager, you are something of a linchpin. You are the clients'first interface, with responsibility for the loans product (business lending), and use other product specialists where necessary. Teaming and leading are equally important elements in an account manager's linchpin role, and that appeals to me. Together, you aim for optimum customer satisfaction. Often, the local bank will also have a relationship with a client. We keep each other posted.Atyear-end, I am assessed chiefly on my portfolio results. I like the performance-driven and the commercial elements - and that applies to everyone here: we simply want to be the market leader.' Stephan Veen, account manager, Rabobank Nederland Corporate Clients tives. Earnings from mergers and acquisitions mediation were disappointing however, because this market was practically stag nant. There was also a strong decline in results from participating interests. Notably, the activities of Rabobank International in the regions Asia and North America performed very well. Australia made its tradi tionally strong contribution. An important element in Rabobank International's strategy is coun try banking.This involves taking over smaller banks that operate in rural areas of developed markets and have a strong position in the agricultural sector. In line with this policy, Rabobank International acquired the Valley Independent Bank (VIB) in the United States last year. Following the earlier acquisitions in Australia and New Zealand in the nineties and that of the Irish national bank ACCBank, the country-banking model is materialising on a global scale.The target is for this activity to make a strong contribution to financial results within a few years. Rabo Securities is Rabobank International's wholesale securities house. Its operations include share issues, mergers and acquisitions, derivatives and share research, sales and trading. Rabo Securities operates from Amsterdam and London and, from 1 January 2003, New York as well. Rabo Securities is a member of EuroNext and the London Stock Exchange. In 2002, Rabo Securities played an active part in a number of capital market transactions for businesses such as Aegon, BAM and Aalberts Industries. Rabo Securities was also an advisor in the public bidding for Uni Invest and the purchase of Leerdammer by Fromageries Bel. Cost savings offset lower income, so that gross profit was virtually unchanged from 2001.

Rabobank Bronnenarchief

Annual Reports Rabobank | 2002 | | pagina 32