ABN AMRO forms subsidiary for investments in financial services sector

ABN AMRO has established FI Equity Partners BV, a subsidiary body within the Financial Institutions group of the bank's Wholesale Clients SBU. FI Equity Partners' mandate is to identify non-strategic private equity investments in select financial services companies. Samuel Zavatti, global head of financial institutions at ABN AMRO, indicated that the new business would actively seek investment opportunities that can create significant value for the bank's shareholders, and build a carefully-selected portfolio of financial institutions holdings. FI Equity Partners will principally be looking to undertake restructurings, buyouts and investments in medium-sized companies based mainly in Europe and Asia. The unit will take significant equity shareholdings in companies with an investment horizon of between three and five years. The amount permitted to be invested per transaction has not been specified, but rather the group will consider the size of investments on a case-by-case-basis. The group, to be headquartered in Amsterdam and Hong Kong, will be headed by Arnold van Os, who has over 15 years experience as an advisor and a principal in the sector. His previous positions at ABN AMRO include head of corporate development and head of financial institutions corporate finance for Europe. The present team, which is expected to expand to eight members by the end of 2003, comprises Chu Kim (head of Asia), Paul van Neerven and Floris Roskam.

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