Zalm picks team for ABN Amro-Fortis

The team that will lead the integration of ABN Amro and Fortis Bank Nederland is almost ready and comes largely from ABN Amro, reports the Financieele Dagblad on Friday.

Former finance minister Gerrit Zalm, who was appointed head of the banking combine at the end of last year after it was nationalised by the Dutch government, has mainly picked bankers from ABN Amro, the paper says, quoting sources close to the bank.
These include Chris Vogelzang who will head retail and private banking, Wietse Reehoorn who will be responsible for IT and operations and Johan van Hall for strategy, corporate development and, probably, risk management. Former chairman of the Fortis management board Jan van Rutte is tipped as the new CFO.
Zalm is expected to make the appointments public within two weeks, the FD says.
The new integration team will oversee the separation of Fortis Bank Nederland from the Belgian banking operations and the establishment a new office network abroad for the bank’s business clients.
Meanwhile the European competition commissioner Neelie Kroes has given ABN Amro-Fortis the go ahead for the sale of De Hollandse Bank Unie to Deutsche Bank and for further sell offs, the paper says.

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