In a joint statement, James Stewart, CEO and Michiel van Schaardenburg, COO of ABN Amro Bank, said: “The next key step towards separating the interests of Consortium members is legal segregation. This involves the reorganisation and a split of the activities of ABN Amro Group, which we plan to take place on February 6, 2010.
“Following legal segregation, we will undertake legal separation of consortium member interests. Legal separation entails the transfer of the Dutch State-acquired business from ABN Amro Holding to a new state holding company, wholly-owned (directly or indirectly) by the Dutch State. RBC will continue to be a member of the RBS Group.”
In a communique to customers, Simon Penney, country executive of the bank in UAE, said: “It is intended that renaming to The Royal Bank of Scotland will take place on February 6 in the UAE. All our details such as address, company number, VAT number etc will stay the same following the name change. SWIFT codes and numbers will also stay the same though the name will change.”
Reportedly, ABN Amro Bank was acquired by a consortium of Fortis, RBS and Santander in October 2007. The Dutch state has bought Fortis Bank Nederland in October 2008, including its interests in ABN Amro. In December 2008, the Dutch state replaced Fortis as a stakeholder in RFS Holdings, which continues to manage ABN Amro.
