ABN Amro sets sights on Asia
ABN Amro has confirmed it will expand the Asian operations of its global energy, commodities and transportation (ECT) private banking and clearing businesses.
As part of the expansion, the bank will open a representative office in Shanghai in Q1 2012. It also plans to build out its client service teams with the recruitment of more private bankers, investment counsellors and other key specialists to focus on its relationship management services.
Gerrit Zalm, ABN Amro’s chairman says: “Asia is a strategically important region for the bank and its clients. We have exceptionally long-standing relationships across many industries, which will be better serviced by our renewed presence in key locations as well as deeper product capabilities.”
In the last 18 months, the bank has added a metals commodities team in Hong Kong and has rebuilt its regional ECT capabilities, re establishing full coverage in oil and gas, shipping and agricultural, and energy and metals commodities in Singapore.
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