ABN AMRO announces the opening today of a new representative office in Shanghai, which will initially focus on supporting the bank’s Energy, Commodities & Transportation (ECT) business in the region.
China is an important growth market for ABN AMRO’s ECT activities, given the country’s position as the leading global consumer of energy and commodities, as well as being the world’s largest shipbuilder. The Netherlands is also China’s second largest trade partner in the European Union and ABN AMRO has historically been a major source of trade finance between the countries.
The bank intends to convert the Shanghai representative office into a full branch in due course, in order to provide a broader range of services to international and Dutch commercial banking clients. The office will be overseen by Arthur Zou, ABN AMRO’s Country Executive for China.
Joop Wijn, ABN AMRO’s Managing Board Member responsible for Commercial & Merchant Banking (C&MB) said: “With our expertise in commodities, shipping and energy finance, ABN AMRO is well placed to play an increasing role in China’s international trade. Our new Shanghai office marks a further step in the selective rebuilding of the bank’s network in key locations for Dutch and international clients.”.
Part of ABN AMRO’s C&MB division, ECT provides standard and structured wholesale banking services to global clients in sectors such as commodity finance, shipping, oil & gas and offshore oil services. ECT is headquartered in Amsterdam and now includes offices in Athens, Dallas, Dubai, Hong Kong, London, New York, Oslo, Rotterdam, Sao Paulo, Shanghai and Singapore – part of ABN AMRO’s overall international network spanning 23 countries and territories.
ABN AMRO and its constituent entities have been active participants in Asian business and trade since 1720. Today the bank provides services to clients across the region from offices in Hong Kong, Shanghai Singapore, Sydney and Tokyo employing over 600 staff. In addition to its strong positions in regional ECT, the bank is also a growing force in Asian private banking and a top 3 clearer of equities, futures and options in most major Asia-Pacific markets.
For further information please contact:
ABN AMRO Press Relations
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London: +44 7702 237736