NEWS: Dutch bank picks Financial Dynamics

ABN AMRO, the acquisitive Dutch bank which is the parent company of Hoare Govett, has hired Financial Dynamics as its first retained UK PR agency.

ABN AMRO, the acquisitive Dutch bank which is the parent company of

Hoare Govett, has hired Financial Dynamics as its first retained UK PR

agency.



The agency, which has handled project work for the bank since February,

was appointed last week to an account understood to carry fees in excess

of pounds 100,000.



Jules Prast, ABN’s chief spokesman and head of its six-strong press

office, said he had informal discussions with two other agencies which

he declined to name. He said the bank had been attracted by FD’s

‘international orientation’ - the legacy of its French parent BDDP and a

strong international client list including Euro Disney and AXA.



He described FD’s brief as ‘international corporate press relations

through London’ - which has been the centre of the bank’s international

equity activities since the acquisition of Hoare Govett in 1992.



The bank had been named as a possible bidder for three merchant banks -

Barings, Schroders and Kleinwort Benson - although it never actually

made an offer. However, in August it confirmed it was looking for

further acquisitions in the UK and US investment banking sectors.



‘We have a major operation in the UK, and that interest will become even

more important in the near future,’ said Prast. ‘Apart from that we are

the number six bank in Europe. We would see London as a very important

place for international media.’



Prast said the bank had concentrated on the domestic media and

international publications such as the Financial Times and Wall Street

Journal, which have correspondents in Amsterdam. However, from next

February it will, for the first time, be briefing the press on its half-

yearly results in London as well.



Prast said the bank also wanted to raise the profile of its UK

subsidiaries - ABN AMRO Hoare Govett, ABN AMRO Bank and ABN AMRO

Securities UK - and revealed it is seeking a new London HQ to house all

three.



ABN AMRO was formed in 1990 from the merger of two of the Netherlands’

largest banks. Hitherto, Prast said it had concentrated on ‘controlling

the internal process’ and was only now looking to raise its profile

internationally.



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