test

Bye, bye AAB

Before starting, I have to admit to the following:
I work for ABN AMRO, if only as a contractor, currently for their BU Europe. And I've enjoyed the last 3 years tremendously, learning a lot in a great and inspiring environment. So whoever stumbles over this post, don't expect anything fair and balanced - personally, although working in finance for a long time, I'm pissed by the way the battle for ABN AMRO went as well as by shareholders who traded a sound long term investment against a quick and slick Euro, bill being payed later.

That said,well / since last week it's official. ABN AMRO has been taken over by a consortium, consisting of Royal Bank of Scotland, Banco Santander and, believe it or not, the Belgian Fortis Bank, of all. And Fortis, this sorry excuse for an ill-managed bank aims to integrate the whole Netherlands business of ABN into its Benelux business. Anybody can spell chuzpe for them? But seriously, having private account, business account and a securities depot with ABN Netherlands I'm seriously worried and currently have no clue to which other bank in the Netherlands I could turn. ING probably, who knows.

I know only one thing and that for sure - I'm not having Fortis manage my account for one day and I'd recommend it to anybody (and in fact effectively go forward and try to convince everybody I know privately) to do the same thing. Only the little bit of information I've got from sources in their Basel II Programme regarding the state of affairs regarding regulatory relations and compliance as a whole convinced me to not only reject a couple of advances to work in that Basel II project but also made me sure to not continue any business relationships with Fortis Bank. Actively hiding risk from their own risk managers, obviously with full knowledge and approval of senior management tends to blow up not only in the bank´s but also in the faces of their customers. As the saying goes± If somebody goes great lengths to hide something, he might do so for a reason...

Fortunately this does not effect my business life as the unit I work for will be attached to RBS which is an excellently managed enterprise, albeit with a more Anglo-American touch to it than ABN had. This need not be so bad though, I'd take the chance and give it a try, should I get an offer to extend my contract

ABN AMRO BU Europe Basel II Programme on tour

offsite impressions

BU Europe - Offsite

Austrians vs. Californians through Ingrid's eyes

Austrians vs. Californians through Ingrid's eyes

Austrians vs Californians

Austrians plan things; Californians do things. Austrians have a tendency to think things over till they can think of enough reasons to drop them. Californians don’t waste time planning the details. They solve any problem along the way. This explains why Hans Maier is still re-re-redrafting plans for a house while John Smith is moving into his new mobile home. Austrians prepare to live tomorrow. Californians live today. If Hans Maier wants a new car he works excessively, quits doing anything that consumes money (which is basically everything besides working) and comforts himself with the promise of a better tomorrow. If John Smith desires a new set of wheels, he goes to the bank, gets a loan, and spends his time blissfully driving down the freeway and forgetting about the loan.Austrians fear the problems of the future, and as a result, glorify the past. Californians see the opportunities of tomorrow and forget about yesterday. Unhappy with his job, Hans Maier drowns himself in memories of past delights. In the same situation, John Smith does not waste time and energy reminiscing about past happiness. He gets a new job and feels fine again.Austrians believe in the better judgement of others. Californians believe in themselves. Originally, Hans Maier wanted to become an actor, marry a gorgeous woman, drive a Ferrari and live in Paris. But his mother told him actors were only cheap clowns. His father assured him that he would be better off without a wife. Some friends convinced him of the advantages of a Volkswagen Bug, and the media informed him that the French were snobby and arrogant. Now Hans Maier is an unmarried civil servant who drives a VW and lives in Hintertupfing. John Smith, on the other hand, is married to a living equivalent of the Barbie doll and driving a Ferrari through Paris (the loan he has successfully forgotten about). He’s still trying to make it big in showbiz – but at least he’s trying.Austrians fear the unknown and therefore conform to the norms. Californians relish the unknown and try the uncertain. Hans Maier would love to own his own business but he (successfully) reflects on his fears of going bankrupt until his negativism kills off his wish to open a business. John Smith not only starts up a business, but insists on something new and unique. He establishes the first dating service for dogs.Finally, Austrians complain about their boring, average, and indistinguishable lives and jealously look at Californians. Hans Maier only forgets (or ignores) that having an idea is not enough. You have to act upon it. John Smith did what it takes (or at least tries his best) – and so both get what they deserve. After all, as the Swiss psychiatrist C.G. Jung said, “Everything had to come about the way it did because I am as I am."

Core test cases revisited

testing is mess - that much is sure