ABN Amro loses lawyers after RBS takeover causes shake-up
ABN Amro has lost a number of senior lawyers in its Dutch headquarters as the bank restructures in the wake of its takeover by Royal Bank of Scotland (RBS). It is understood that seven lawyers have left the bank in recent months, including global general counsel Eva Simon Thomas and corporate general counsel Penelope Simmers as well as supporting corporate M&A and regulatory lawyers. The losses follow Dutch Central Bank approval of integration plans between the RBS-led consortium - also comprising Fortis and Santander - and ABN. RBS declined to comment on redundancies but confirmed that both Simon Thomas and Simmers left their positions earlier this year.Meanwhile, it is understood that ABN has appointed a new head of legal for the Netherlands, with Rein Graat thought to have taken up a new position. Linklaters has been aadvising RBS throughout the restructuring with four lawyers in London - led by corporate partner Anne Drummond - and four in Amsterdam led by corporate partners Peter Goes and Henk Arnold Sijnja working on the matter. Following public criticism of the takeover the Dutch ministry of finance is currently preparing a legal analysis on the merger, with local leader Loyens & Loeff advising.
August 28, 2008 at 02:00 AM
2 minute read
ABN Amro has lost a number of senior lawyers in its Dutch headquarters as the bank restructures in the wake of its takeover by Royal Bank of Scotland (RBS).
It is understood that seven lawyers have left the bank in recent months, including global general counsel Eva Simon Thomas and corporate general counsel Penelope Simmers as well as supporting corporate M&A and regulatory lawyers.
The losses follow Dutch Central Bank approval of integration plans between the RBS-led consortium – also comprising Fortis and Santander – and ABN. RBS declined to comment on redundancies but confirmed that both Simon Thomas and Simmers left their positions earlier this year.
Meanwhile, it is understood that ABN has appointed a new head of legal for the Netherlands, with Rein Graat thought to have taken up a new position.
Linklaters has been aadvising RBS throughout the restructuring with four lawyers in London – led by corporate partner Anne Drummond – and four in Amsterdam led by corporate partners Peter Goes and Henk Arnold Sijnja working on the matter.
Following public criticism of the takeover the Dutch ministry of finance is currently preparing a legal analysis on the merger, with local leader Loyens & Loeff advising.
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