Don’t take your bonus, says ABN Amro boss

ABN Amro CEO Gerrit Zalm has appealed to some 50 senior executives not to accept special bonuses promised them over 2008 and 2009.

And those that ignore the call have no future at the bank, Zalm told Nos tv on Friday.
The bonuses were aimed at keeping top staff loyal to the Dutch bank following the lengthy takeover battle for ABN Amro in 2007.
But now the future of ABN Amro is secure, there is no need to keep to the bonus system, Zalm said.
The bonuses were made at the insistence of central bank president Nout Wellink, the Volkskrant reports Zalm as saying.
Not voluntary
Earlier this week the CEO of financial services group ING made a ‘moral appeal’ to senior staff to return their discretionary bonuses.
Zalm said that his appeal to senior staff had not gone down well with some but that it was a condition for a job at the new ABN Amro Fortis combine. Those who have refused to hand back the money ‘know that they no longer have a future at the bank,’ Zalm said.
On Friday morning, it emerged that ABN Amro’s operations now owned by the Dutch state booked a profit of €471m last year.
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