London/ Zurich: ABN Amro Bank NV plans cut 60 of its 100 senior management jobs and reduce the number of top executives by more than half in a revamp that reflects the bank’s shrinking size. A new management board will include the heads of retail, commercial, corporate and institutional, and private banking, the Amsterdam-based lender said in a statement on Monday. The number of executives on the managing board and the senior managing directors will be reduced to nine from 19. Chris Vogelzang will resign from his position as the management board member responsible for retail and private banking after eight years in the role, the bank said. “In recent years, the bank’s total staff has decreased significantly, but the size of the senior management level has remained unchanged,” Van Dijkhuizen said in the statement.

Source: Mint February 06, 2017 17:15 UTC