NETHERLANDS - KAS Bank has named Egon Tibboel as director of institutional investors, a new role, in a revamp that has seen the creation of two new divisions.
“KAS Bank is building on the success of 2004 by creating two new divisions,” the group said in a statement. “These represent the core client segments within institutional banking: financial intermediaries and institutional investors.”
Tibboel, 41, was named director of institutional investors while Ryanne Cox becomes director of financial intermediaries. They still report to managing director Laurens Vis.
“This move shows our clients how serious we are about meeting their needs and the growing needs of the industry,” Vis said. “We are confident that Egon and Ryanne will both be extremely capable leaders.”
KAS said the move to set up two new divisions was “a direct result of the development and growth in client relationships”. It added: “The new structure also permits a greater focus and a more efficient allocation of resources.”
The institutional investors team will focus on custody and investment management support services to institutional investors, investment funds and fund managers.
The financial intermediaries arm will focus on offering a range of European securities services to banks, custodians, investment banks and broker/dealers.
“Clients are becoming more and more important,” Tibboel said in an interview, adding the revamp would enable better client service and product development. Vis would now be looking more at external issues and development opportunities.
Tibboel has been at KAS for 13 years. The institutional team has 17 members in the front office, with a further 20 in the mid-office. He said the main challenge is growing the client base in the UK and the Netherlands – as well as new countries in Europe, such as Germany, Luxembourg and Ireland.