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.”
Nets partners Chainalysis to facilitate validation of virtual currencies
Danish payments processor Nets has joined forces with distributed ledger technology provider Chainalysis to help banks validate virtual currencies such as bitcoin and comply with anti-money laundering rules.read more
Hearsay rolls out new enterprise compliance platform
US-based financial technology provider Hearsay has unveiled the next generation of its enterprise compliance platform to better counter social and digital risk.read more
UBS deploys electronic signature service
Swiss banking giant UBS has deployed the Qualified Electronic Signature (QES) service from Cryptomathic and SwissSign to strengthen security and control of its document management.read more
SIX Payment Services taps IBM technology to boost cyber security
SIX Payment Services has selected IBM Watson for Cyber Security to develop a next-generation Security Operations Center (SOC) in order to boost cyber defence and provide customers security services for compliance with Swiss privacy and financial market regulations.read more
Scotiabank, Cardtronics extend ATM deal at 7-Eleven Canada stores
The Bank of Nova Scotia (Scotiabank) has extended its ATM branding agreement with Cardtronics to give its customers surcharge-free ATM access at over 640 Scotiabank-branded ATMs at 7-Eleven Canada stores across Canada.read more