APB boss will quit over DSB bank if necessary

Ed Nijpels, chairman of the giant Dutch civil service pension fund ABP will quit if an investigation into the collapse of DSB bank implicates him, the Liberal party stalwart says in an open letter on Wednesday.

Nijpels left DSB’s supervisory board the day unhappy clients began a run on the bank which eventually forced its bankruptcy.
Nijpels is one of several prominent Liberal party members who were involved with DSB.
VVD ministers
Former finance minister Gerrit Zalm joined the bank in 2007 as economic advisor and was then promoted to CFO. He left at the end of last year to take over at ABN Amro.
Frank de Grave, another former VVD minister succeeded Zalm but was allegedly sacked by DSB owner Dirk Scheringa after asking too many ‘difficult questions’ about the bank’s finances.
A third former minister and Liberal party stalwart, Robin Linschoten, joined the DSB board as head of the bank’s risk management department in July. He was already on the bank’s supervisory board.
Unions had earlier criticised Nijpels appointment at ABP saying he had no experience with managing pension funds and did too many other jobs at the same time.

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