Rabobank is pleased to announce that Carlo van Kemenade will join the Managing Board as Director of Retail Netherlands “as of 1 April 2024.”
As a member of the Managing Board, he will be “responsible for the entire Retail domain in the Netherlands for a term of four years.”
The appointment of Carlo van Kemenade is “subject to approval by the regulatory authorities.”
The portfolio rebalancing underlines “the bank’s strategy to strengthen its leading position in the Netherlands and globally to be the leading F&A bank and leader in vendor finance.”
The cooperative Rabobank rebalances portfolios and embeds its strategy in the Managing Board: As of 1 April, Carlo van Kemenade will “become Director of Retail Netherlands and member of the Managing Board.” The Private Clients and Business Clients portfolios “will be merged into Retail Netherlands Carlo van Kemenade’s yet-to-be-appointed successor as CEO of DLL will join the Managing Board in the course of 2024.”
DLL remains a stand-alone entity
By merging the portfolios of private and business clients, Rabobank is “taking an important step towards a simpler and more customer-oriented Retail Netherlands organisation.”
The amendment means that Kirsten Konst (Business Clients) and Mariëlle Lichtenberg (Private Clients) will step down “as MB members as of 1 April 2024. Until then they remain fully committed to contributing to the changes in the retail domain to give the new organisation a good start and to ensure a diligent handover.”
The appointment of Carlo van Kemenade “as Director of Retail Netherlands creates a vacancy for the position of CEO DLL. After approval by regulatory authorities DLL’s yet-to-be-appointed new CEO will join the Managing Board in the course of 2024 and will be responsible for the group-wide vendor finance activities.”
With this decision, Rabobank emphasizes “the strategic importance of its leasing activities and its ambition to consolidate its global leading position in Vendor Finance. As a subsidiary of Rabobank, DLL will remain an independent entity.”
On behalf of Rabobank’s Supervisory Board, Chair Marjan Trompetter said she is very pleased with the appointment:
“With the appointment of Carlo van Kemenade, another seasoned director from our own organisation joins our Managing Board. Carlo has a long history within the Rabobank Group and has proven that he is of great added value to the organisation.”
It’s worth noting that on 14 December 2023, the Dutch Authority for the Financial Markets (AFM) had announced that it “would impose an administrative fine of EUR 12 million on Rabobank for failing to sufficiently comply with the rules on responsible lending. Rabobank has continuously cooperated with AFM’s investigation.”
Rabobank is studying the decision and is “considering whether to lodge an objection.”
Rabobank believes it is important to “responsibly provide credit.”
The bank is also keen to “offer tailor-made solutions where possible, to enable customers with specific financing needs to responsibly buy a home.”
This is sometimes necessary. For example, in case of “an important life change, such as the termination of a relationship.”
For more details on this update, check here.