Dutch state asks big bonus banks for help in privatisation

Finance minister Jeroen Dijsselbloem has confirmed the Dutch state uses banks which break its guidelines on bonuses to advise on selling stakes in banks and insurance companies.

Banks such as BlackRock, JPMorganChase and Goldman Sachs pay staff bonuses far beyond the new Dutch limit of 20% which comes into effect in January, the Volkskrant reported on Saturday.

The finance ministry choice is based on ‘price and quality, not nationality,’ Dijsselbloem said.

The ministry is currently in talks with its international advisors on selling ABN Amro and SNS, both of which have been nationalised.

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