Chairman of commercial lender to step down

Chairman of commercial lender to step down

ABN AMRO has announced that its chairman of the managing board will not be completing his full term in office.

Gerrit Zalm is contracted to the position until May 2018, but has decided to step down next year after consultation with the board.

Following ABN AMRO’s split-up, merger and IPO, Mr Zalm has chosen to move on and allow a new chairman to lead the lender for a longer period of time. 

Mr Zalm was appointed as chairman before its merger with Fortis Bank in 2009 and held that post when ABN AMRO became a listed company on the Amsterdam Stock Exchange in November 2015. 

In a statement, ABN AMRO said: “The supervisory board has begun the succession process and will make further announcements regarding the succession and date of departure of Mr Zalm as more information becomes available.”

ABN AMRO serves retail, private and corporate banking clients with its main focus in the Netherlands.

However, the lender has a UK branch that offers commercial lending facilities such as invoice financing and asset-based lending.

Its UK commercial finance arm is a patron of the National Association of Commercial Finance Brokers.

Following the UK’s decision to leave the European Union, ABN AMRO Commercial Finance said it remained committed to the UK for its domestic and international clients as it planned to develop new relationships with UK businesses. 

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