ABN goes FIPSing crazy

ABN AMRO hires a slew of staff into its FIPS division. But what on earth is FIPS?

Most banks call their financial institutions coverage team the FIG group, but ABN AMRO has created an even broader group called FIPS which stands for financial institutions and public sector team.

Clients range from domestic commercial and public sector banks to central banks while the businesses run the gamut from foreign exchange and credit derivatives through to equity capital raisings. Add in insurance companies and investment management groups and that's a pretty big client base.

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