'Spotlight on’ Relationship Management with Edwin & David

Q1. Describe your role within the International Desk team at ABN AMRO UK (general description)

Edwin: As the head of the IDUK, I have the pleasure and honour to manage an ambitious team of highly professional sales, account management and product experts whilst at the same time being responsible for several key client relationships and all regulatory duties.

David: I am a Relationship Manager within the team, and my key focus is on initiating and building client relationships, whilst also keeping a close eye on the risks we are exposed to including credit and financial crime. I focus on marketing our services to our colleagues in CB and C&IB in the Netherlands and the local business units.

Q2. Has there been a significant shift in your role since the pandemic began?

Edwin: One thing of note is the impact of lockdown and other restrictions in relation to our volume-related business, such as payments and cheque processing. Not surprisingly, it is not only banks but also our clients who have had to adapt to the pandemic's impacts. We can see the results of such in our day to day business and our financial results.

Q3. The Bank is undergoing a energy, mobility & logistics and digital transition phase – what opportunities and challenges do you foresee?

David: Our mandate is to only bank existing ABN AMRO Group customers, either in the International locations or in the Netherlands. Therefore, when the Bank moves in strategy, we also intrinsically move with it. We can assist our clients through the impacts of global changes, of which Brexit is a good example. We can support the right businesses to operate in jurisdictions where they do not have a corporate residence, whereas many high street banks are no longer able. We also increasingly assist clients with the issuance of duty deferment guarantees. This is where we need to choose between supporting the right businesses and the right trade flows, aligning our choices to the Bank's strategic sectors.

Edwin: There are always challenges associated with strategic change: costs associated with banking operations in the UK, the dilemma of continuing a relationship with a financially profitable client but with a "shady" sustainable profile. The trade-off being, how much impact can we, with our product set, actually have on these clients decisions around sustainability. We need to ensure to operate within the strategy & purpose of the Bank with whatever means we have, and sometimes tough choices need to be made.

Q4. How can banks do more to become 'changemakers'?

Edwin: The Bank's strategy has to be more than just a sales pitch. In the UK, we have hosted client events linking clients in specific sectors with experts in the field to help with their transition to a more sustainable future. Furthermore, the regulatory requirements placed on us to 'Know Our Clients' can be used as a strong tool to force and at a minimum encourage clients to adapt to expected market norms particularly anti-bribery and corruption, sustainable supply chains, modern slavery, sustainable use of palm oil and other environmentally impactful industries.

Q5. What do you hope to see within the finance industry in the next ten years?

David: Bank's need to be careful that they do not cede too much ground to fintechs and new challengers in the market. We need to invest not only in new technology but also in partnerships, to ensure that we do not fall too far behind in the rapidly developing technology space so as not to rely on traditional banking products where depressed interest rates are eroding ROE. We also need to address our industry-wide gender pay gap, which is out of touch with the demographic reality and ensure that we walk the walk, and not just talk about Diversity & Inclusion initiatives.

Q6. In a sentence, summarise the impact of 2020 on your business and your outlook for 2021?

David: 2020 has been a year of challenge and change for our business and our clients - yet with change always comes opportunities to grow, and in 2021 we will begin to see that growth start to play out.

Edwin: Yes, I agree. I also expect much from 2021: ABN AMRO's "One Bank" approach (Corporate and Private Banking) and our focus on sustainability, client centricity, and digitalization will be an energizer to our staff and clients. Together we can and will move forward.