• Register
Return to: Home > News > Strategy > ABN Amro to axe 60% of senior management roles

ABN Amro to axe 60% of senior management roles

Dutch banking major ABN Amro plans to shed 60 of its 100 senior management roles as part of a management restructure.

Under the new structure, the remaining 40 senior management positions will have a stronger involvement in the leadership of the bank and the composition of these executives will be reviewed every year.

The bank will now have a new management board including the heads of retail, commercial, corporate and institutional, as well as private banking.

In addition, the bank announced that Chris Vogelzang, responsible for retail and private banking, will resign from the managing board to “prepare for his future outside the bank”.

ABN Amro CEO Kees van Dijkhuizen said: “In recent years, the bank‘s total staff has decreased significantly but the size of the senior management level has remained unchanged. With the changes we are announcing today the number of senior executives (i.e. current members of the Managing Board and the Senior Managing Directors) will be reduced from 19 to 9.

“At the same time, the structure and composition of the management level below the Executive Committee will be reviewed: reduced in size, with a stronger strategic involvement. The specific details of the structure will be completed in the coming weeks. The new management structure marks the new phase that ABN AMRO has entered, by providing a stronger client focus and extensive attention to the business activities at the top executive level.”

Top Content

  • RBC net income rises 9% in Q2

    Royal Bank of Canada (RBC) has reported a net income of CAD2.81bn for the second quarter of 2017, up 9% from CAD2.57bn in the same quarter of the previous year.

    read more
  • CIBC retail and business banking unit net income dips in Q2

    The retail and business banking arm of Canadian Imperial Bank of Commerce (CIBC) posted net income of CAD647m for the second quarter of 2017, a fall of 1% compared to CAD652m in the same period last year.

    read more
  • TD Bank Canadian retail unit net income rises 7% in Q2

    TD Bank Group's Canadian retail unit has reported net income of CAD1.57bn for the second quarter of 2017, up 7% from CAD1.46bn in the corresponding quarter of the previous year.

    read more
  • Dubai to grant temporary financial services licence to fintech firms

    Dubai Financial Services Authority (DFSA) has decided to allow fintech firms to apply for a restricted financial services license to foster innovation in Dubai.

    read more
  • Archover secures full FCA authorisation

    ArchOver, a P2P business lending platform in the UK, has received full authorisation from Financial Conduct Authority’s (FCA) to function as P2P lending platform.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.