18/11/2013 15:25:00

Schat Leaves Rabobank Board

AMSTERDAM--A veteran banker will leave the executive board of Rabobank with immediate affect Monday, after the supervisory board said he had lost the support of the banks that collectively own the Dutch lender.

Sipko Schat, who has worked at Rabobank for over 25 years, is the second executive to leave the bank after it reached a $1.07 billion settlement with regulators over the manipulation of the London interbank offered rate. Chief executive Piet Moerland resigned when the settlement was announced last month.

"This was a difficult decision for all parties," Wout Dekker, chairman of the supervisory board said. Rabobank said it will appoint a successor shortly.

Former ING Groep NV (ING) board member Marinus Minderhoud has taken over from Mr. Moerland temporarily until a successor is appointed.

"We are loosing...an international top banker; a respected colleague who has meant a lot for Rabobank," Mr. Minderhoud said.

Rabobank will remain under the close scrutiny of the Dutch Central Bank as it oversees the implementation of measures imposed following the investigation into the bank's role in the Libor-rigging case. Mr. Minderhoud is tasked with overhauling the bank's risk and compliance operations and pushing through a program to change the bank's culture and the behavior of its employees.

Write to Robin van Daalen at robin.vandaalen@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 18, 2013 10:25 ET (15:25 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
18 Jun
VWS
Normal 0 false false false DA X-NONE X-NONE ..
41
18 Jun
GEN
GW er en troll, der burdte have begrænset sin adgang til 1 dagligt indlæg.   Formøbleren  
36
21 Jun
BAVA
Men hvis man ikke efterrationalisere mere end, "nå", så er der da gode penge at hente i bankerne, ve..
27
18 Jun
GEN
Øhhh- du må da være hans mor.... Jeg har endnu ikke konstateret at han har ramt noget som helst ......
20
22 Jun
VELO
Må sige at det er ekstremt svært at finde ud af hvad Veloxis har at byde på, og om der er gode mulig..
18
19 Jun
BEO-SDB
God eftermiddag,   Efter at have set på de forskellige meninger og argumenter på FB, EI, Avanza og L..
18
19 Jun
BAVA
Nyhedsflowet fra Bavarian resten af 2017 bliver enormt spændende. Husk at det er Biotek og nyheder i..
17
21 Jun
BAVA
Fra 0,77% til ca. 0,4%.   Derfor faldt den ikke tilbage i går. De har købt ca 120.000 aktier.   Det ..
15
18 Jun
GEN
Vores kære orakel her på EI, Goodwrench, også kaldet GW, er ved at blive et stort fænomen. Hans udta..
15
21 Jun
VWS
Aarhus, Danmark, 2017-06-21 16:17 CEST (GLOBE NEWSWIRE) --     I forbindelse med at OOO Fortum Energ..
14

Alliance Trust PLC : Transaction in Own Shares

14/06/2017 07:00:13
14 June 2017  Alliance Trust PLC TRANSACTION IN OWN SHARES  The Board of Alliance Trust PLC ("the Company") announces that on 13 June 2017 the Company purchased for cancellation 209,000 ordinary shares of 2.5p each at a price of 708.0748p per share.  Therefore, the total number of voting rights in the Company is now 354,575,762.    The above figure (354,575,762) may be used by shareholder..

Majedie Asset Management Ltd : Form 8.3 - TESCO PLC

13/06/2017 15:20:46
FORM 8.3   PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code")   1.         KEY INFORMATION   (a) Full name of discloser: ..

Quarterly Update for the Quarter to 30 April 2017

13/06/2017 12:50:10
13 June 2017 ICG Enterprise Trust Plc Quarterly Update For the quarter to 30 April 2017 Highlights Share price Total Return1 of 5.7% for the quarter and 39.9% for the 12 months to 30 April 2017 Net asset value per share Total Return1 of 0.6% for the quarter and 19.9% for the 12 months The Portfolio1 is valued at £54..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Novartis combination targeted therapy Tafinlar® + Mekinist® receives FDA approval for BRAF V600E mutant metastatic non-small cell lung cancer (NSCLC)
2
The Plexus Groupe salutes the 2017 EY Entrepreneur of the Year© Midwest award winners
3
Lundbeck and Takeda receive Complete Response Letter from the FDA for Trintellix® (vortioxetine) sNDA
4
Results of Operations for the Year Ended December 31, 2016 - American Overseas Group Limited Announces Net Loss Of $7.5 Million and Operating Loss of $14.6 Million For The Year Ended December 31, 2016
5
NXT Energy Solutions Announces Results of Annual General Meeting

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
23 June 2017 18:24:19
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20170623.1 - EUROWEB2 - 2017-06-23 19:24:19 - 2017-06-23 18:24:19 - 1000 - Website: OKAY