ABN AMRO nominates new Chief Financial Officer and future successor to the Chief Risk Officer
May 15 2017 - 02:39PM
ABN AMRO nominates new Chief
Financial Officer and future successor to the Chief Risk
Officer
The Supervisory Board announces today that it
intends to appoint Mr Clifford Abrahams as Member of the
Executive Board and Chief Financial Officer of ABN AMRO effective 1
September 2017. The nomination is subject to the approval of the
appointment of Mr Abrahams by the European Central Bank (ECB) and
advice from the Employee Council. Until the appointment of Mr
Abrahams becomes effective, Mr Rahusen CFO ad interim, will
continue to execute these tasks.
Mr Abrahams is currently a member of the Managing Board and the
Group Chief Financial Officer of Delta Lloyd N.V. Mr Abrahams
joined Delta Lloyd in January 2016. In 2005, Mr Abrahams was
appointed as Chief M&A Officer at Aviva, a global insurance
group and asset manager, followed by his appointment as CFO of a
number of major subsidiaries of Aviva. Prior to joining Aviva, Mr
Abrahams was employed for 12 years at Morgan Stanley, where he
became Managing Director Financial Institutions in 2002.
The Supervisory Board also intends to appoint Ms
Tanja Cuppen as Member of the Executive Board of ABN AMRO effective
1 October 2017. Following a hand-over period with Mr Wietze
Reehoorn, the Supervisory Board intends to appoint Ms Cuppen as the
new Chief Risk Officer, effective 1 November 2017. Wietze Reehoorn
has agreed to resign from the Executive Board that same date. He
will hand-over his remaining tasks and activities effective 31
December 2017. The nomination of Ms Cuppen is subject to the
approval of her appointment by the ECB and advice from the Employee
Council.
Ms Cuppen is currently Chief Risk Officer North
America at Rabobank North America, based in New York. Previously,
she served as Chief Financial and Risk Officer at Rabobank
International. Ms Cuppen joined Rabobank in 1994 and, in addition
to her solid risk management expertise, has gained extensive
banking experience through various senior management positions,
including the position of Global Head of Corporate Finance,
Director Group Treasury and Vice President Structured
Finance.
Ms Olga Zoutendijk, Chairman of the Supervisory Board:
"The Supervisory Board is pleased with the
nominations of Mr Clifford Abrahams and Ms Tanja Cuppen.
Mr Abrahams' strong track record as a CFO and his extensive
experience in the financial sector gained in previous senior
management positions, including 12 years in banking, make
him well-suited to be appointed to ABN AMRO's Executive Board as
new CFO.
The Supervisory Board is also pleased with the
opportunity for the early selection of Ms Cuppen as the new CRO, in
anticipation of the scheduled departure of Mr Reehoorn. She
has a strong track record in risk management in both the domestic
and international banking sector, and more than 22 years of banking
experience through the various senior management positions she held
at Rabobank. We expect the leadership qualities and strategic
skills of both Mr Abrahams and Ms Cuppen to contribute greatly to
the successful execution of ABN AMRO's strategy.
The Supervisory Board is grateful to Mr Reehoorn,
who has served for almost 30 years at ABN AMRO, in particular for
his valuable contribution to rebuilding the bank and the
preparations for the IPO, during two consecutive terms as a
Managing Board member and CRO. He combined his CRO role as from
2010 until 2016 with the responsibility for Group Strategy,
Corporate Development and Investor Relations. I would also like to
thank Mr Alexander Rahusen for the execution of the tasks as CFO ad
interim since 1 January 2017."
Upon receipt of the approval by the ECB of the
intended appointments of Mr Abrahams and Ms Cuppen, respectively,
the Supervisory Board will convene an Extraordinary General Meeting
of Shareholders (EGM) to notify the shareholders and depositary
receipt holders of the intended appointments, which will be
followed by the formal appointment decision by the Supervisory
Board.
ABN AMRO Press
Relations
ABN AMRO Investor Relations
Jeroen van Maarschalkerweerd, senior press
officer
Dies Donker, head of Investor Relations
pressrelations@nl.abnamro.com
investorrelations@nl.abnamro.com
+31 20
6288900
+31 20 6282282
This press release is published
by ABN AMRO Group N.V. and contains inside information within the
meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014
(Market Abuse Regulation)
ABN AMRO nominates new CFO and
future successor to the CRO
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
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information contained therein.
Source: ABN AMRO via Globenewswire
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