ABN Amro has opened a representative office in Shanghai to support its energy, commodities and transportation (ECT) business in the region.
The representative office, which was announced in December last year, will be overseen by Arthur Zou, ABN Amro’s country executive for China, who joined the bank from BNP Paribas in 2010.
The bank aims to convert its Shanghai office into a full branch and will apply for a full banking licence via the Chinese Banking Regulatory Commission (CBRC) after it has operated after the required two-years. The licence will enable ABN
Amro to provide a broader range of services for its Dutch and international clients, the bank says in a statement.
ABN Amro 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.
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.
The ECT office is headquartered in Amsterdam and now includes reopened offices in Athens, Dallas, Dubai, Hong Kong, London, New York, Oslo, Rotterdam, Sao Paulo, Shanghai and Singapore.
Last Updated May 15, 2012
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