ABN Amro is planning to reduce the number of senior managers from around 100 to just 40 and is shaking up its executive board to make the bank ‘more client-focused, agile and efficient’.

Among those leaving is Chris Vogelzang, who had been tipped to take over when Gerrit Zalm stood down as chief executive.

The managerial jobs to go will run across the level below the executive committee. The 40 jobs remaining ‘will have a stronger involvement in the strategic direction and the leadership of the bank than before,’ the bank said in a statement.

The composition of the ‘top 40’ will be reviewed every year.

‘Over the past few years, the number of bank staff has been reduced considerably but there has been no change in the number of senior managers,’ chief executive Kees van Dijkhuizen said.

The bank will also have a slimmed down executive board made up of CEO Van Dijkhuizen, chief risk officer Wietze Reehoorn and a new financial boss who has yet to be appointed.