The strategy for the rural and retail activities was fine-tuned in 2010.The revised strategic plan
focuses on offering tailored financial solutions to key food and agri clients based on long
standing client relations, and on broadening the retail banking network, with priority being
given to serving clients in the primary agricultural sector. There was also a shift in focus of the
wholesale activities. As part of the strategy, wholesale serves specific food and agri sectors
worldwide, the goal being to achieve broader product sales.
In the first half of 2010, policy was formulated to make the value chains in 12 sectors more
sustainable. In the second half of the year, we helped clients look for concrete opportunities to
contribute to the advancement of sustainability in their business.
Wholesale banking for Dutch clients
Rabobank's Dutch wholesale banking division seeks to achieve a leading position in the Dutch
wholesale market. It is supported in its ambition by the local Rabobanks, among other group
entities. The growth in Rabobank's leading position at major corporate transactions in the
Dutch market illustrates both the ambition and the steps that are being taken in this area.
In order to achieve market leadership, Rabobank acts as a strategic long-term partner to the
client.To be able to do so, close relations need to be forged with clients. This created a need
for experienced wholesale bankers in 2010. A recruitment campaign by the name of 'Word jij
de Rabobank' was launched to market Rabobank as an employer to the target groups that
matter to the bank. In a global context, ample investments were made in employees who are
able to support clients across the full financial services spectrum.The new colleagues will
help us to improve existing client services and to broaden our services to attract new clients.
Rabobank Group occupies a special position outside the Netherlands because of our extensive
global network.
Rabobank grew substantially in 2010 in the Dutch market for mergers and acquisitions.
The Q3 report of OverFusies.nl, a mergers and acquisitions data base, showed that Rabobank
International's Mergers Acquisitions department provided advisory services in most wholesale
acquisitions. What is more, these acquisitions had the highest transaction values. A closer
partnership with Rothschild and Rembrandt Fusies Overnames contributed to this success.
The activities of the Trade Services department saw a sharp increase in 2010. Trade Services
is responsible for processing international transactions of Dutch enterprises with products
such as letters of credit, collections and international bank guarantees. Customers want to
reduce the risk of doing cross-border business. The increase in this department's activities was
attributable in part to the recovery of world trade.
International wholesale banking with focus on food and agri
At international wholesale banking, the focus lies on food and agri in the world's key
agricultural countries. This focus is a natural extension of Rabobank's roots: it started as
an agricultural cooperative. The knowledge that Rabobank has built in the area of food and
agri gives the bank a competitive edge in this market. The departments undertaking the
international wholesale banking activities are Wholesale Clients International, as well as
Global Financial Markets (GFM), Mergers Acquisitions Trade Commodity Finance,
Corporate Finance and Private Equity.
GFM launched many new products in 2010, also allowing clients to invest in exchange-
traded funds. Clients can now invest in an index without having to buy all the underlying
shares. The Trade Commodity Finance department has developed into a prominent player
in the market over the past few years.
Rabo Securities USA and Jefferies Company entered into a strategic alliance in 2010.
This gives clients the opportunity to place bonds on the US institutional capital market.
A partnership agreement was signed also with the Agricultural Bank of China, with Rabobank
acquiring a minor equity interest in this bank. The objective of the collaboration is to
strengthen our position in China.The Chinese bank's extensive networkallows us to tap new
markets. This offers potential, not only for Rabobank International's wholesale clients, but also
for Robeco and its investment products, and for De Lage Landen to expand its lease portfolio.
Rabobank provides concrete technical support, training and expertise in the areas of trade
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Annual Report 2010 Rabobank Group