The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Roundtable - Jan Kallf, chairman of the managing board, ABN-Amro

Do you expect there to be further consolidation in the world banking industry?

Kalff: There is no doubt that there will be extensive further consolidation in the world banking industry. Most countries are overbanked and certainly overbranched. In the increasingly competitive environment low costs are essential, and therefore larger scale. This will cause hundreds of mergers and takeovers every year in the developed countries alone.

Will there be large-scale cross-border ­ as well as domestic ­ bank mergers?

Kalff: The consolidation will take place for the most part through takeovers, but also mergers will occur. As in a merger the transaction itself, but certainly also the all-important work that has to be done afterwards, is more complicated than in an acquisition. [Therefore] the number of mergers will be relatively low. This is certainly the case with cross-border mergers, where differences in culture, management style, language, corporate governance and other sensitive but important elements play a much bigger role than in the case of a local merger.

Do you see banking consolidation putting any downward pressure on professional salaries?

Kalff: The result of banking consolidation will be that there will be a greater divergence between the top and lower quartile in professional salaries.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree