Shared assets

The consortium banks bought ABN AMRO for the quality of its people as much as anything else and that applies to the Central Functions as well. There is a serious job to be done in continuing to run ABN AMRO and run it well. This is all about growth and we need people to deliver that growth. As the combined groups grow, so will the need for quality people to support that growth. Our goal is to create a sustainable platform for future success. Therefore, very little will change to begin with. In due course it is anticipated that the shared assets like Central Functions will move to the businesses they support. In addition there will, of course, be some areas that will continue to support the consortium as a whole. We recognise the need to give clarity on these issues as quickly as possible.

Shared Assets are also those assets that do not have a natural fit with any of the consortium banks existing businesses or strategic priorities and may have a better future with another owner. These businesses are e.g. Saudi Hollandi Bank, Prime Bank, a stake in Unicredit and BU Private Equity.