Mark Fisher to replace ABN Amro CEO (update)

Royal Bank of Scotland board member Mark Fisher (46) is to take over the helm at ABN Amro following the departure of CEO Rijkman Groenink.

Fisher, who went to RBS when it took over the British bank National Westminister in 2001, will oversee the break-up of the Dutch banking group.
Fisher was responsible for integrating NatWest into the RBS empire – a process which involved the loss of 18,000 jobs, reports news agency ANP.
Fisher has been given six weeks to finalise his plans for the transitional phase over the takeover, but the three banks who have bought ABN Amro expect the entire process of dividing up the group to take up to one year.
Groenink announced on Wednesday that he would quit his job. Groenink, who supported a merger with the rival bidder Barclays, has been at ABN Amro since 1974. ‘The shareholders have chosen another plan,’ Groenink said. ‘So it is better to leave the field now to a successor who can and will put that plan into action’.
It was criticism of Groenink’s performance by hedge fund TCI which opened the way for the bank’s takeover earlier this year.

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