Friesland bank boss wanted a merger: FD

Friesland Bank CEO Willem Cramer resigned in March following a row over the bank’s independence, the Financieele Dagblad reports on Monday.

The paper says Cramer had become convinced that the bank needed to find a partner to weather the turmoil in the financial markets. Rabobank and DSB were Cramer’s choice of partner, the paper says.
But opposition from the rest of the executive and the supervisory board had led to Cramer becoming isolated within the company, the paper says.
Friesland is set to post its first ever loss in its almost 100-year history last week on Thursday, the paper claims. According to inside sources, this is due to a revaluation of its stake in internet bank Binck Bank, lower earnings from its stake in Van Lanschot and disappointments from its investment arm.

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