Magazine article American Banker

New CEO at Securities Unit of Amro to Stay on Course

Magazine article American Banker

New CEO at Securities Unit of Amro to Stay on Course

Article excerpt

Wilbert A. Thiel, chief executive officer of ABN Amro's U.S. securities subsidiary since May, wants to consolidate the growth the company had under his predecessor.

"I want to keep the ship moving forward," said Mr. Thiel, adding that he particularly wants to continue expanding in the international equities and futures markets.

Mr. Thiel arrived at ABN Amro Inc., the North American investment banking and brokerage affiliate of Dutch giant ABN Amro Holding, through its 1997 acquisition of the Chicago Corp. During a 30-year career there, he had held a variety of posts, including president, treasurer, chief operating officer, and director.

In May, Mr. Thiel succeeded John A. Wing as chairman and chief executive officer of ABN Amro Inc., while retaining the title of president. He said he expects to hire a treasurer and chief operating officer soon, probably from within the firm.

Mr. Wing left the company to become a full-time executive director of the new Center for the Study of Law and Financial Markets at the Illinois Institute of Technology. He too is a veteran of Chicago Corp.

Before its acquisition by ABN Amro, the world's 14th-largest banking company, Chicago Corp. focused on equities and futures sales and trading. Another U.S. Amro unit, ABN Amro Securities Inc., focused on a range of debt products.

ABN Amro Holding put the two securities companies together to form ABN Amro Chicago Corp. Last winter it was renamed ABN Amro Inc.

The unit has expanded its activities to focus more on debt and equity underwriting in Europe and emerging markets, with offices in London and Sydney. …

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