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.