ABN AMRO Private Banking is ‘highly commended’ in best private bank in europe award

ABN AMRO Private Banking was highly commended in October 2011 in the ‘Best Private Bank in Europe’ categoryof the Global Private Banking Awards 2011 organised by The Banker and Professional Wealth Management magazines, part of the Financial Times Group. The awards evaluate private banks for their ability to deliver trusted advice, due diligence and risk management, as well as design efficient asset allocation strategies and bespoke portfolio solutions.Jeroen  Rijpkema, Chief executive officer of ABN AMRO Private Banking, said: “This award is first and foremost a tribute to the long-term relationships we have with so many private banking clients across Europe and to the ongoing commitment of our staff. ABN AMRO Private Banking comprises some of the oldest and most trusted private banking brands in Europe”.

The judges were impressed by the bank’s asset growth relative to its peer group, pan-European ambition and clear strategic plan. The bank was also acclaimed for its high conviction and cross-border investment ideas, hedge fund capabilities and socially responsible investment tools. ABN AMRO Private Banking has one of the largest research and strategy teams of any private bank, with 40 analysts covering all major asset classes.

Here in Hong Kong, Managing Director Arjan de Boer, Head of ABN AMRO Private Banking for North Asia, said: “The Highly Commended ‘Best Private Bank in Europe Award’ together with our ‘Asiamoney Polls 2011 award’, “Ranked Amongst the Top 10 Best Global Private Banks in Asia” (in the USD1m to 5m category) is very good news for the entire organisation. The criteria for these awards come from comments and opinions of both clients and peers.” Recently in December 2011, Standard & Poor’s also upgraded ABN AMRO to A+ (from A). This upgrading in the present volatile environment where many  banks ratings are being reviewed and even downgraded demonstrates the market’s confidence in ABN AMRO’s strong capital position and balance sheet. Obviously pleased with all the good news, De Boer said, “Asia is one of our fastest growing markets and our North Asia market is coming up nicely with significant revenues in excess of HK1billion. We are also very happy to have recently received approval from the China Banking Regulatory Commission (CBRC) to re-open a representative office in Shanghai. In addition, there are also plans in the pipeline to apply for a full banking license in India. It has been a hard work, but we have a strong growth ambition in Asia and therefore we remain committed to this region and aim to capitalize on the opportunities for growth.” A Dutch institution, ABN AMRO was the first foreign bank in Asia, starting in Jakarta, Indonesia, or, as it was then known, Batavia, dating back to 1824. According to de Boer, “This 200 year history in Asia allows the bank to understand the needs of Asian high net worth clients very well. Having a risk-adverse, conservative Dutch/European banking style has allowed ABN AMRO to weather the recent market
turmoil together with its long term clients”.

De Boer said, “Hong Kong’s high net worth investors are very savvy and are more inclined to take advice only from a trusted advisor who is sufficiently well-versed with product knowledge and the necessary skills to manage their portfolios. We have always tailored our client’s portfolios to each individual’s situation and we insist that our staffbe well educated about the entire private banking universe.

“This is why we are continuing our own investment in our people’s learning and development with a new global initiative in partnership with INSEAD, one of the world’s highly respected institutions. We are sending all our private bankers for an ABN AMRO  NSEAD customised certification programme, to ensure that all of our private banking staff can offer the same high level of advice everywhere in Asia.

“This represents a significant outlay of resources. ABN AMRO is the only private bank with this customised programme with INSEAD and it demonstrates the Bank’s commitment to deliver high quality and consistent service to its clients, de Boer explained. Focusing on high net worth and ultra high net worth individuals, the bank has much to offer clients, such as a global footprint spanning 10 countries and nearly 4,000 employees. The company boasts a network of experienced professionals including research analysts, economists, portfolio managers, estate planning experts and product specialists.”

Each client has a dedicated client service team comprising of private bankers, investment advisors and assistant private bankers.

FAST FACTS
• Long-standing presence in Asia with a legacy dating back to 1826

• An international wealth management division of ABN AMRO Bank N.V., an independent bank under the supervision of the Dutch Central Bank • Global footprint spanning 12 markets worldwide with over 4,000 professionals employed

• Sizeable establishment encompassing over 120,000 high net worth clients with more than USD200 billion of assets under management *

• Ranked Top 10 of Best Global Private Bank in Asia **

• Highly Commended in Best Private Bank in Europe Award ***

* AUM as of November 2011
** Asia Money Polls 2011, voted by HNWI with USD 1-5 million of AUM
*** Global Private Banking Awards 2011