Governance
Management Board Members
Rutger Schellens
Rutger Schellens has been Chief Executive Officer and a member of the Management Board of ABN AMRO Clearing Bank N.V. since March 2017. He is overall responsible for the Clearing Bank and is a member of ABN AMRO’s Corporate Bank management team. Rutger has held a wide range of senior executive roles in wholesale banking and capital markets. Prior to his current role, he served in various senior management positions at ABN AMRO and Rabobank, including as Managing Director of Global Markets and as a member of the Managing Board of Rabobank International. He has been a board member of the International Capital Markets Association and is currently a member of the Supervisory Board of Frontclear. Rutger brings extensive experience in global financial markets, governance, risk and large-scale international operations.
What does the Supervisory Board do?
The Supervisory Board supervises the Management Board as well as the general course of AACB affairs and those of its affiliated entities. In addition, the Supervisory Board assists the Management Board by rendering advice.
In performing their duties, Supervisory Board members are guided by interests and continuity of AACB and its affiliated entities, taking into consideration the interests of all AACB stakeholders and society at large. Several powers are vested in the Supervisory Board, including approval of certain resolutions proposed by the Managing Board. The Supervisory Board meets at least four times per year and whenever any Supervisory Board member deems necessary.
Introducing the Supervisory Board
Appointment, suspension and dismissal
An overview of the current composition of the Supervisory Board can be found below. Most Supervisory Board members are employed by ABN AMRO Bank and do not receive separate compensation for AACB Supervisory Board membership. Supervisory Board members are appointed and may be suspended or dismissed by the General Meeting.
Sarah Russell - Chairman of the Supervisory Board
Since 20 April 2022, Sarah was also appointed to the ABN AMRO Supervisory Board and as Chair of the Audit Committee. She has built an extensive international career in financial services since starting in 1981 at Toronto Dominion in Australia. Sarah joined ABN AMRO in 1994, holding senior roles including CFO of the Wholesale Clients Business and CEO of ABN AMRO Asset Management until 2008. From 2010 until 2019, she served as CEO of Aegon Asset Management and was a member of AEGON N.V.’s Managing Board from 2016. Throughout her career, she has also held numerous non-executive and supervisory board positions across Europe and the U.S., including roles at APG Groep and its subsidiary APG Asset Management, The Currency Exchange Fund, Nordea Bank, and La Banque Postale Asset Management.
Hans Hanegraaf - Member of the Supervisory Board
Having held a large variety of positions both in the Netherlands and abroad, Hans has amassed up to 30 years of experience in international banking. Currently he is the Chairman of the Management Board of Bethmann Bank AG in Frankfurt, one of the largest private banks in Germany in terms of assets under management. Prior to working in Germany, Hans served as the Country Executive of ABN AMRO Singapore from 2014 to 2017. Before embarking on these international postings, Hans served as the CEO of Commercial Banking of ABN AMRO N.V. in Amsterdam from 2010 to 2014.
Frank Graaf - Member of the Supervisory Board
Frank Graaf was appointed to the Supervisory Board of ABN AMRO Clearing Bank N.V. on 22 June 2020. Frank Graaf is currently Of Counsel at Clifford Chance, a global law firm, having been a partner and the Head of the Capital Markets, Financial Regulation and Derivatives Group at Clifford Chance in Amsterdam for more than 27 years.
Eric Drok - Member of the Supervisory Board
Eric is an experienced Executive, Non-Executive board member and ex Banking CEO. He has a strong Retail- and Corporate banking background and has had postings all over the world. He currently serves as an Operating Partner at Hg, a specialist private equity investor focused on software and service businesses. Eric currently also holds several supervisory board member positions in various financial institutions including CBA Bank(Europe) NV ,Cooperatie The Greenery UA, and Fair Trade Nederland . Eric also recently served as the Chairman of the Supervisory Board of Flow Traders N.V. from 2015 to 2021, prior to which he also held several Non-Executive Board Membership postings in Banking and Service Industry across different banks in Belgium, Zambia, Poland, Australia and New Zealand.
Marcel Prins - Member of the Supervisory Board
Marcel Prins was appointed to the Supervisory Board of ABN AMRO Clearing Bank N.V. on 1 January 2025. Marcel currently is Chief Operations Officer at Robeco where he is responsible for driving the digital transition within the organisation. Marcel is passionate and curious about Big Data, AI, and Machine Learning and uses this to help improve organisational capabilities an maximise performance.
Appointment, suspension and dismissal
An overview of the current composition of the Supervisory Board can be found below. Most Supervisory Board members are employed by ABN AMRO Bank and do not receive separate compensation for AACB Supervisory Board membership. Supervisory Board members are appointed and may be suspended or dismissed by the General Meeting.
Sarah Russell - Chairman of the Supervisory Board
Since 20 April 2022, Sarah was also appointed to the ABN AMRO Supervisory Board and as Chair of the Audit Committee. She has built an extensive international career in financial services since starting in 1981 at Toronto Dominion in Australia. Sarah joined ABN AMRO in 1994, holding senior roles including CFO of the Wholesale Clients Business and CEO of ABN AMRO Asset Management until 2008. From 2010 until 2019, she served as CEO of Aegon Asset Management and was a member of AEGON N.V.’s Managing Board from 2016. Throughout her career, she has also held numerous non-executive and supervisory board positions across Europe and the U.S., including roles at APG Groep and its subsidiary APG Asset Management, The Currency Exchange Fund, Nordea Bank, and La Banque Postale Asset Management.
Hans Hanegraaf - Member of the Supervisory Board
Having held a large variety of positions both in the Netherlands and abroad, Hans has amassed up to 30 years of experience in international banking. Currently he is the Chairman of the Management Board of Bethmann Bank AG in Frankfurt, one of the largest private banks in Germany in terms of assets under management. Prior to working in Germany, Hans served as the Country Executive of ABN AMRO Singapore from 2014 to 2017. Before embarking on these international postings, Hans served as the CEO of Commercial Banking of ABN AMRO N.V. in Amsterdam from 2010 to 2014.
Frank Graaf - Member of the Supervisory Board
Frank Graaf was appointed to the Supervisory Board of ABN AMRO Clearing Bank N.V. on 22 June 2020. Frank Graaf is currently Of Counsel at Clifford Chance, a global law firm, having been a partner and the Head of the Capital Markets, Financial Regulation and Derivatives Group at Clifford Chance in Amsterdam for more than 27 years.
Eric Drok - Member of the Supervisory Board
Eric is an experienced Executive, Non-Executive board member and ex Banking CEO. He has a strong Retail- and Corporate banking background and has had postings all over the world. He currently serves as an Operating Partner at Hg, a specialist private equity investor focused on software and service businesses. Eric currently also holds several supervisory board member positions in various financial institutions including CBA Bank(Europe) NV ,Cooperatie The Greenery UA, and Fair Trade Nederland . Eric also recently served as the Chairman of the Supervisory Board of Flow Traders N.V. from 2015 to 2021, prior to which he also held several Non-Executive Board Membership postings in Banking and Service Industry across different banks in Belgium, Zambia, Poland, Australia and New Zealand.
Marcel Prins - Member of the Supervisory Board
Marcel Prins was appointed to the Supervisory Board of ABN AMRO Clearing Bank N.V. on 1 January 2025. Marcel currently is Chief Operations Officer at Robeco where he is responsible for driving the digital transition within the organisation. Marcel is passionate and curious about Big Data, AI, and Machine Learning and uses this to help improve organisational capabilities an maximise performance.
Governance
ABN AMRO Clearing Bank N.V. (AACB) is a public company with limited liability, incorporated on 26 November 1982 under Dutch Law, and is a wholly owned subsidiary of ABN AMRO Bank N.V. (ABN AMRO Bank). AACB has its registered office in Amsterdam. It has branches in Hong Kong, Singapore, London and 100% subsidiaries in Hong Kong, Singapore, London, Chicago, Tokyo and Sydney. AACB also has offices in New York, São Paulo and Frankfurt.6 7The financial statements of AACB are incorporated in the consolidated financial statements of ABN AMRO Bank. As of November 2015, ABN AMRO Bank is listed on the Euronext Amsterdam Exchange. AACB does not operate a proprietary trading desk and is therefore an independent third party clearing member that does not compete with our clients.8 9The clearing activities of ABN AMRO Bank N.V. operate from ABN AMRO Clearing Bank N.V., a 100% subsidiary of ABN AMRO Bank N.V. The clearing activities are therefore legally separated from ABN AMRO Bank's general banking activities.
Dutch Banking Code
The principles of the Banking Code are applied by the ABN AMRO Bank N.V. in full to all relevant entities within its group of companies on a consolidated basis. In accordance with ABN AMRO's management framework, all members of the group are an integral part of the ABN AMRO organisation.14 15The management framework entails that the bank's policies and standards related to compliance with internal and external regulations and best practices are applicable to the full group and consequently are defined at group level for implementation within the different parts of the organisation. Please refer to the website of ABN AMRO and/or the annual report of ABN AMRO Bank N.V. for additional details on the application of the Dutch Banking Code.