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Thursday, May 20, 1999

ABN buys BankAm retail business for $200 mn

 
MUMBAI, MAY 19: ABN Amro Bank has announced the acquisition of Bank of America's (BankAm) retail-banking businesses in India, Taiwan and Singapore in a deal worth $ 200 million.

BankAm group executive vice-president James Hulihan said "We will work closely with ABN Amro in each country to ensure that our customers continue to receive a high quality of service through this transition. Customers need not take any action now. We will ensure that they are provided timely information to assist them as we move forward."

ABN Amro Bank also announced that it had appointed former BankAm's consumer-banking head N Rajashekaran as its chief of consumer-banking operations. Meanwhile BankAm's senior vice-president and country manager (India retail banking group), Anuroop "Tony" Singh will join ANZ Grindlays Bank as its country head (India) and regional head, personal financial services in South Asia and the Middle-East.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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