Bank Sarasin has elected Hubertus Heemskerk and Sipko Schat to the board of directors at its recent annual general meeting. Mr Heemskerk, a Dutch citizen, started his career with ABN Amro, where he worked for more than twenty years, in Tokyo, Dubai and London, among other places. He became director general for the domestic market, where he was responsible for the bank’s retail activities. From 1991 to 2002 Mr Heemskerk was chief executive of F. van Lanschot Bankiers and since 2003 he has been chief executive of Rabobank Group. Mr Schat joined Rabobank in 1985 as a corporate lawyer. Over the past two decades he has held positions in structured finance in the Netherlands and in corporate finance in Ireland. He was appointed head of structured finance Europe in 1995 and head of corporate finance worldwide in 1999. In 2002 he was appointed to the management board of Rabobank International with responsibility for North and South America. Three existing board members stepped down at the AGM: Diederik J.M.G. Baron van Slingelandt, vice-chairman, Philip Baumann and Thomas van Rijckevorsel. These changes follow Rabobank’s purchase of 46.06 per cent of Bank Sarasin’s share capital earlier this month.