Credit Suisse wants Fortis Fund

April 21, 2010 7:00 AM

Fortis Bank (Nederland) N.V. is negotiating with Credit Suisse on the sale of Fortis Prime Fund Solutions, also domiciled in Curaçao, notably Fortis Prime Fund Solutions (Curaçao) N.V.

“For this purpose, a Memorandum of Understanding (MoU) has been signed”, Willie Beumer, country manager Fortis Curaçao and managing director MeesPierson Curaçao, says. “It states that the negotiations are presently conducted exclusively with Credit Suisse.”
Fortis Bank (Nederland) and ABN Amro Bank N.V. have been part of the same holding company as of April 1: ABN Amro Group N.V. For this purpose, the shares the Netherlands government holds in Fortis Bank (Nederland) have been contributed to ABN Amro Group, of which the Netherlands government holds all shares, on April 1.

Management Board and Supervisory Board identical

Beumer answers the question when ABN Amro will appear on the building at Berg Arrarat with “first the name MeesPierson will continue to appear on the building.” Both banks, Fortis Bank (Nederland) and ABN Amro Bank, still operate – within the new holding – as independent banks until the legal merger (expected in the second half of 2010). Since April 1, both the holding and the two banks have had one Management Board (“RvB”) and one Supervisory Board (“RvC”) with an identical composition.
Jan van Rutte, vice-president of the Management Board: “With the appointment of the new RvB and the new RvC we take an important step towards creating the new bank.”
“With this step, the members of the former RvB of Fortis Bank Nederland can fully focus on their new role in the combined bank.”
“We are grateful to the members of the RvB and the members of the RvC who resign for their considerable and very dedicated contribution to the development of Fortis Bank Nederland. Also because of that, Fortis Bank Nederland is ready for the integration.”
The RvB consists of the following members: Gerrit Zalm – president; Jan van Rutte – vice-president and CFO; Johan van Hall – Chief Operating Officer; Caroline Princen – HR, Communication, Compliance, Legal and Sustainability; Wietze Reehoorn – Risk Management (CRO) & Corporate Strategy; Chris Vogelzang – Retail & Private Banking; and Joop Wijn – Commercial & Merchant Banking.
The RvC now consists of the following members: Hessel Lindenbergh (president) – former member Management Board of ING Groep; Hans de Haan – former partner Ernst & Young; Steven ten Have – professor strategy and change Vrije Universiteit Amsterdam and partner Ten Have Change Management; Bert Meerstadt – president-director of the Dutch Railways; Marjan Oudeman – executive director Corus Strip Products; Annemieke Roobeek – professor strategy and transformation management Business University Nyenrode and director MeetingMoreMinds; and Peter Wakkie – lawyer.
Hessel Lindenbergh, president of the RvC: “I am happy with the varied composition of the RvC and the RvB.”
“The members each contribute valuable knowledge and experience from various disciplines. I consequently am confident about the future of the new bank.”

(Source: National newspaper Antilliaans Dagblad)

17 April 2010

Focco Lunsingh Scheurleer of Van Eps Kunneman Van Doorne acts as Netherlands Antilles counsel of Credit Suisse.