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Thursday, 11 October 2007, 09:18 GMT 10:18 UK

New owners nominate ABN Amro boss

Exterior of ABN Amro office The new owners of Dutch bank ABN Amro have nominated Mark Fisher, a senior executive with Royal Bank of Scotland (RBS), to be next chairman.

The appointment of Mr Fisher, who joined RBS in 2000, must be backed by shareholders in a special vote likely to take place in the next few months.

Current chairman Rijkman Groenink is stepping down after the RBS consortium successfully bid to take over the firm.

ABN first supported the rival Barclays bid but then pledged its neutrality.

ABN Amro is expected to be broken up following the 71bn-euro ($98.5bn; £49bn) deal, the largest banking takeover in Europe.

The battle to buy the firm took many months following a legal row over the future of ABN's US subsidiary, but was concluded when Barclays withdrew its offer.

Mr Fisher is a member of the RBS board, in charge of IT, property, purchasing and back-office services departments.

He joined RBS when it bought National Westminster Bank in 2000.

The RBS bid was backed by Spanish bank Santander and Belgian-Dutch firm Fortis.




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Related to this story:
ABN Amro head plans to step down (10 Oct 07 |  Business )
RBS secures takeover of ABN Amro (08 Oct 07 |  Business )
Barclays abandons ABN Amro offer (05 Oct 07 |  Business )
Barclays investors back ABN bid (14 Sep 07 |  Business )
ABN says Barclays bid is too low (20 Sep 07 |  Business )

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Barclays
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