Steps in the process

Employees from across all four banks worked together to create transition plans for the separation and transfer of the ABN AMRO businesses to the respective consortium banks. These plans were submitted to the Dutch Central Bank (DNB) and Works Councils for approval and in early March 2008, the DNB approved the overall transition plan, issuing a 'declaration of no objection'.

Some businesses will begin separation and integration sooner than others. Timing will depend on a number of factors, including the complexity of the separation task. BU Asset Management, for instance, officially transfered to Fortis on 1 April 2008, while BU Netherlands will not move until 2009.