ABN Amro Private Banking has appointed Arjan de Boer as head of private banking for Hong Kong. He reports to Hans Diederen, Asia head of private banking, who had needed someone to assume this role following his promotion to head of Asia in September.
Hong Kong-based Diederen assumed his current post after Barend Janssens left the firm.
De Boer has relocated to Hong Kong from Singapore for the new role. His previous role was regional head of treasury and special products for Asia at ABN Amro Private Banking, which he has held since early 2006.
He has 11 years of experience at the firm, of which more than four years have been in Asia. De Boer's career started with Hollandsche Bank Unie, after which he became head of treasury and special products for ABN Amro Private Banking in the Netherlands.
ABN Amro Private Banking is one of the group's businesses that is now owned by the Dutch state. ABN Amro Holding was acquired by a consortium of banks through RFS Holdings in October 2007. The consortium consisted of The Royal Bank of Scotland Group (38%), Fortis Bank (34%) and Banco Santander (28%). In December 2008, the Fortis share in RFS was transferred to the Dutch state.
Recently the Dutch state-owned businesses, including the private-banking unit, in Hong Kong, Singapore and Dubai were transferred to a new legal entity, ABN Amro Bank. The transfer of the private-banking business was made possible as the firm received new banking licences from the Monetary Authority of Singapore on March 23, the Hong Kong Monetary Authority on March 17 and the Dubai Financial Services Authority on February 25.
Any further announcements about hires and other moves will be made after the state-acquired businesses have been legally separated from RFS, says a spokeswoman for ABN Amro. The separation is slated to be completed in the first quarter, she adds.