ABN Amro to stick with Dutch accountants

ABN
Amro will continue to recruit young Dutch accountants and lawyers
into the bank even if it merged with larger bank
Barclays
, and will influence the culture of the larger group as its head office
would be based in the Netherlands.

The comments, made by ABN Amro chief executive Rijkman Groenink during the
company’s AGM, will raise speculation that a merged group would use ABN’s
external advisers, such as auditor Ernst & Young, ahead of Barclays’
auditors, PwC.

Groenink was responding to fears from shareholders that the group would take
on Anglo-Saxon’ ways of working, reported
The
Times .

‘Our contribution to the economy of the Netherlands will be maintained. Young
graduates can come to ABN in the Netherlands. We will be using Dutch accountants
and Dutch lawyers,’ said Groenink.

‘Let’s not pretend that Barclays is bigger than we are. We’re more powerful
in retail and commercial banking. We have just as much culture and history,
intellect, power and knowledge.’

Further reading:

Lucas to be FD if Barclays and ABN merge

ABN AMRO takeover talks bring E&Y out in a sweat

Dutch tax rules could be a boon for
Barclays/ABN Amro