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.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

ABN Amro CEO-elect Robert Swaak faces AML, M&A test

Former PwC executive Robert Swaak is a 'safe pair of hands', but a money laundering investigation and negative rates heighten existential doubt at ABN Amro.

Robert-Swaak_ABN-Amro-780.jpg

ABN Amro names Robert Swaak as CEO



Robert Swaak is largely unknown, even in the relatively close-knit banking community of the Netherlands, but after a career at the Dutch branch of PwC, he is assuming one of the most influential roles in banking in the country, if not in Europe.

As chief executive of ABN Amro from this April, Swaak will determine the future of what was once a global investment bank. It is still one of three firms that dominate banking in the Netherlands.

Industry insiders, however, say that leading a big European bank these days is such a thankless task – especially in the Netherlands and at ABN Amro – that chairman Tom de Swaan may have had few candidates for the role.

In an era of low growth and lower rates in Europe, being a popular and financially successful bank CEO is getting tougher all the time. Public sympathy for banks remains particularly low in the Netherlands. Its politicians show little care for Amsterdam’s status as an international financial centre.

While ABN Amro is still majority owned by the government, despite its 2015 listing, its CEO’s pay is low compared with global and regional peers, and it would be hard to raise it by more than a percentage point or two every year.




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