Schretlen Co
Effectenbank Stroeve
Alex
Key figures - asset management and investment
44 Rabobank Group Annual Report 2003
The new cost structure resulting from this move is much more trans
parent. Robeco USA in New York will be responsible for the portfolio
management of funds investing exclusively in North America. In this way,
the knowledge and experience obtained as a result of the acquisitions
in the United States become available to Dutch private investors as well.
2003 was a successful year for Schretlen Co. Assets managed and held
in custody increased by 23% to EUR 4.7 (3.8) billion. Schretlen expanded
its services further with the introduction of Rabobank Estate Management
Services (REMS). In addition, a special programme, FutureS&Co, was
developed for the children and grandchildren of Schretlen's clients.
By means of workshops and company visits, among other things, these
young people are introduced at an early stage to all the various aspects
of money and investment.
Effectenbank Stroeve focuses on active private and professional investors
and has distinguished itself over the past few years mainly on the basis
of its high rankings for its European fund and sector research.
Effectenbank Stroeve is the Dutch market leader for services to profes
sional clients, such as independent asset managers and brokers. In 2003,
assets managed and held in custody by Effectenbank Stroeve increased
by 27% to EUR 2.4 (1.9) billion.
Internet broker Alex is the market leader in online investing in the
Netherlands. Alex focuses specifically on active private investors and
offers the possibility to deal independently and at competitive rates on
several stock exchanges. Alex, named the best Internet broker in the
Netherlands on more than one occasion, introduced the Alex Academy
late in 2003, where investors can follow a full education course at different
levels. Alex is the largest provider of private orders, both on the Euronext
securities exchange and the Euronext derivatives exchange.
www.robeco.com,www.schretlen.com,www.stroeve.nl and www.alex.nl
2003
2002
change
Results (in EUR millions)
Total income
620
586
6%
Total operating expenses
463
459
1%
Operating profit
157
127
24%
Assets managed (in EUR billions)
184
168
10%
- For clients
132
117
13%
- Investment portfolio
52
51
1%
Number of (millions)
- Securities and options local banks
1.8
1.8
3%
- Robeco funds local banks
1.0
1.1
-14%
- Alex
2.0
1.7
20%
FTEs*
2,050
2,030
1%
including Alex
The Netherlands shocked
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violence.
by another case of mindless
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