ABN AMRO Drops The Ax On Fixed-Income Staff

ABN AMRO has laid off roughly 30 professionals in fixed income as part of a broader reorganization that has the bank letting go of up to 120 staffers across its institutional business.

  • 25 Feb 2005
Email a colleague
Request a PDF

ABN AMRO has laid off roughly 30 professionals in fixed income as part of a broader reorganization that has the bank letting go of up to 120 staffers across its institutional business. The bank is condensing its 10 institutional business lines into three: global markets (which encompasses fixed income), global clients and services, according to an internal memo obtained by BW.

"It's yet another reorg at a reorg company," quipped one outsider, referring to ABN AMRO's tendency to regularly bulk up and scale back its efforts in the U.S.

"The positions that are being eliminated...have been identified and affected staff are being notified. The process is difficult for all involved, yet it is necessary for optimizing our organizational structure," John Nelson, chairman of ABN AMRO's institutional business, wrote in the memo. A call to Nelson was referred to Kimberly Williams, spokeswoman, who declined comment. And Kim Rosenkilde, head of North American global markets, did not return calls.

At least some of the cuts affected ABN AMRO's fixed-income research department. Jim Rhodes, agency strategist, is one of those affected, according to an official at the company. Rhodes reported to Steve Ricchiuto, chief U.S. economist. Ricchiuto was out of the country and did not return a call. Rhodes could not be reached.

  • 25 Feb 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 317,691.74 1201 8.90%
2 JPMorgan 291,227.96 1326 8.16%
3 Bank of America Merrill Lynch 285,088.11 991 7.99%
4 Goldman Sachs 217,749.25 714 6.10%
5 Barclays 209,291.80 811 5.87%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,320.82 147 6.67%
2 Deutsche Bank 32,259.50 104 6.66%
3 Bank of America Merrill Lynch 28,890.43 85 5.96%
4 BNP Paribas 25,663.29 144 5.30%
5 Credit Agricole CIB 22,617.86 130 4.67%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 18,160.85 71 9.15%
2 Morgan Stanley 15,215.44 76 7.67%
3 UBS 14,195.29 55 7.15%
4 Citi 14,014.57 86 7.06%
5 Goldman Sachs 12,113.98 67 6.10%