leading growth in europe the executive perspective dolf collee member of the managing board annual...
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Leading Growth in EuropeThe Executive Perspective
Dolf Collee
Member of the Managing Board
Annual Conference of the Foundation for European Leadership
Amsterdam, 23 September 2005
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Leading Growth in Europe
1. The Road to Growth
2. Growth in Europe 3. Leading Growth
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Leading Growth in Europe
ABN AMRO’s Road to Growth - in three phases
Making the organisation transparent
Creating focus
Formulating and realising a growth strategy
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ABN AMRO’s Road to Growth – Phase I
Making the organisation transparent Before 2000 2000
Strategic Business Units
Client lead
Consumer & Commercial
Clients
Wholesale Clients
Private Clients & Asset Management
Divisions
Geography lead
Netherlands
Investment Banking & Global Clients
International
3
Introductionof
“Managing for Value”
Visible revenue streams and profitability
Allocate capital and (human) resources to activities with highest
(future) returns
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ABN AMRO’s Road to Growth – Phase I
Making the organisation transparent
Consumer
“Playing to our strengths”
Mid-marketStrategy
Market lead
Commercial
Mid-MarketClients
Multi-NationalCorporations
TopPrivateClients
Mid-Market /Financial Institutions
Private Clients /Mass Affluent
Mass Retail Small Business
Transparency led to: Better and more open dialogues
– Based on facts
– Organisation and clients leading Better-founded follow-up action Started at the top
Reflected throughout organisationResulted in improved insight
into our performance in - specific client segments
- specific products
- product-market combinations
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ABN AMRO’s Road to Growth – Phase II
Creating Focus
ABN AMRO created focus supported by Managing for Value
Do activities add value in the short and long term?
– Reorganisations, e.g. “No Detours” in the Netherlands
– Divestments, e.g. WCS: From 10 to 3 BU’s and withdrawal from 10 countries
Are activities focused on our strengths?
– Divestments and investments, e.g. US: Sale of European American Bank and investment in Michigan National.
Are activities part of our core business?
– Divestments, e.g. Sale of Leaseplan, Bank of Asia and Trust
As a result, focus on mid-market segment
of our consumer and commercial clients5
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ABN AMRO’s Road to Growth – Phase III
Formulating a growth strategy
Financial ambition Financial target
To be in the top five An average Return on Equity of our self selected peer group of 20% over the period 2005 – 2008. in terms of total return to shareholders at the end of every four-year cycle.
Our ambition and target
The conditions: Client Intimacy and loyalty is key
The value proposition for our mid-market customers:
Professional employees who create a long term partnership through innovative and competitive products and services.
– Innovation example: Private Investor Products
Making more possible
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Our Growth Strategy
Growth in Europe
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Growth in Europe
Europe as single market from a banking perspective
Europe: Is the sum of several countries
– Each country has own banking rules, authorities and competitors
– Strong local markets, e.g. co-operatives
Growth in Europe: Is investigating your opportunities in every single country
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Growth in EuropeSustainable growth opportunities in Europe
based on our growth strategy:
1&2. Grow existing clients and new clients in existing markets
- Is business as usual and limited by country boundaries
Conclusion: Tough competition
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3. Organic growth
- On average the European markets are too mature for organic growth, but markets like Romania are interesting growth markets
Conclusion: Few opportunities4. Acquisitions
- Depend on life cycle of a country’s banking industry and protection measures Conclusion: Fragmented view
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Leading Growth
Sustainable Growth and Values
Our Corporate Values and Business Principles are key in realising sustainable growth
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Growth in Europe
THE EUROPEAN DREAM
Sustainability & quality of life
“Thick” enough?
Enough drive?
Source: Het Financieele Dagblad
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Leading Growth
Continual and Cyclical Process with Value Focus
1 Clear Focus…
2 – 4 …
Customer-
Driven Plans…
5 – 6 ...
Turning
Plans Into
Results…
Select Growth
Platforms
Build Deep
Customer
Insight
Remove
Organisational
Growth Barriers
Target Headroom For
Profitable Growth
Aligning Operations
Address
Growth
Priorities
1
2
3
4
5
6
Deliver Growth Strategies
Develop Growth Strategies
ValueFocus
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Leading Growth
Leading growth through people and leadership
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Leading Growthin Europe