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Hugh Scott-Barrett quits as ABN Amro CFO

10 May 2007  |  1507 views  |  0 Source: ABN AMRO

ABN Amro announces the resignation of Hugh Scott-Barrett, Chief Financial Officer and Member of the Managing Board.

He will step down per 1 August 2007 and will be succeeded as CFO by Huibert Boumeester, Member of the Managing Board.

Rijkman Groenink, Chairman of the Managing Board, commented: "The Managing Board and the Supervisory Board of ABN AMRO have regretfully accepted Hugh's decision to resign. I want to express my feelings of gratitude and respect to Hugh for his contribution to the growth of the Group. One of the best financial minds in the industry, Hugh brought extensive investment banking experience and sharp analytical skills to the team. We respect Hugh's wish to step down and wish him every success in the future."

Hugh Scott-Barrett said: "Given the expected change in ownership of ABN AMRO this is an opportune moment for me to look at my future and explore new opportunities in my career. Having decided not to take up the offered position in the new entity after the proposed merger of Barclays and ABN AMRO, my resignation is a logical step. I wish my colleagues in the Board and the staff of the bank the very best."

Huibert Boumeester (1960) was appointed to the Managing Board in January 2006. Prior to this appointment, he was Chief Executive Officer of ABN AMRO Asset Management. Mr Boumeester joined ABN Bank in 1987 and has held various positions within the bank in Europe and Asia since, including Country Manager in Malaysia, Managing Director Global Financial Markets and Global Head of Integrated Energy.

Hugh Scott-Barrett (1958) joined ABN AMRO in 1996 and progressed to Global Head of Corporate Finance. He joined the Managing Board in 2000 with co-responsibility for Wholesale Clients. Before his appointment as CFO in January 2006, Mr Scott-Barrett was Chief Operating Officer responsible for Group Shared Services, where he launched a programme focused on improving service quality and efficiency.

As of 1 August, the responsibilities of the Managing Board members are as follows:
  • Rijkman Groenink: Chairman Managing Board, Group Corporate Development, Group Audit, Group Compliance & Legal, Group Human Resources
  • Wilco Jiskoot: BU Netherlands, BU Private Clients, BU Global Clients, BU Asset Management
  • Joost Kuiper: BU North America, Chairman Group Business Committee
  • Huibert Boumeester: Chief Financial Officer, Group Finance, Group Risk Management, Investor Relations, Group Communications, Strategic Decision Support (SDS)
  • Piero Overmars: BU Asia, BU Europe, BU Global Markets, Chairman Commercial Client Segment, Antonveneta
  • Ron Teerlink: BU Latin America, BU Transaction Banking, Services, EU Affairs & Market Infrastructure, Chairman Consumer Client Segment

    This is an announcement pursuant to article 9b paragraph 1 of the Dutch Securities Markets Supervision Decree (Besluit toezicht effectenverkeer 1995).

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