ABN Amro to slash investment bank size after Covid losses
As many as 800 jobs could be lost over three to four years at the investment bank
12 August 2020 - 17:27
Amsterdam — ABN Amro Bank will cut its investment bank by about a third and shut down lending outside Europe as the Dutch bank tries to turn around business hit hard by the market chaos caused by the coronavirus crisis.
ABN Amro will stop providing corporate finance outside Europe and exit trade and commodity financing altogether, the Dutch bank said on Wednesday. As many as 800 jobs could be lost over three to four years as the investment bank pulls back from activities that now bring in about 45% of client loans...
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