Fortis Private Banking Unveils Asian New Management Team

Tom Burroughes

22 August 2008

Fortis Private Banking, which has almost doubled its assets under management after its Dutch-Belgian banking parent bought the private client arm of ABN Amro last year, has announced its line-up of senior managers for the Asian region.

The appointments take effect, with one exception, from 1 January, 2009, the bank said in a statement. The team will be headed by Barend Janssens, and will comprise the following senior managers:

Hans Diederen, regional head of Greater China; Lee Chang Tze, regional head of South East Asia; Hassan el Nahas, regional head of the Middle East (effective 1 April 2009); Marc de Natris, head of brokerage management; Solange Rouschop, head of products and solutions; Seah Li Li, chief credit officer; Samir Dewan, chief administrative officer; and Peeter Chris ‘t Hart, who will be head of marketing and sales. All of the appointments, apart from Mr de Natris, come from ABN Amro, according to Dow Jones.

“The announcement today is an exciting step in our integration plans. We have an excellent line-up of talent with a great depth of expertise who aim to provide outstanding service to our clients. I am confident that this team will drive and realise the ambition and potential of the future combined private bank,” said Mr Janssens.

After the integration is completed, Fortis in Asia will have 860 employees across five countries dedicated to private banking, running a total of $30 billion of client assets and liabilities, it said.

Fortis Private Banking said it ranks among the top 10 of private banks in Asia, adding that the integration of its businesses in Singapore, Hong Kong and China are expected to be completed by January 2009, and the integration of its operations in Taiwan will be completed at the end of the first quarter of 2009. As for its operations in the United Arab Emirates, integration will be completed in the second quarter of next year, it said.

The integration and above appointments are subject to regulatory approval, Fortis added.

The appointments come at what has been a torrid summer for the banking group, which has tapped the markets for fresh capital to deal with some of the losses caused by the global credit crunch. Also, in July, Fortis announced that Jean-Paul Votron was stepping down as chief executive.