International An interview with Mr. P. J. Pistor Acquisition of LaSalle National Bank completed CHICAGO, II, AUGUST 14 - ABN Bank and GATX Corporation today completed the sale of almost 100 of the stock of LaSalle National Bank to ABN. The Federal Reserve Board approved the acquisition on July 13 enabling GATX to comply with regulatory requirements to divest itself of its banking interests. Under the terms of the agreement reached last November, ABN Bank is paying S 118.20 per share. The total investment in LaSalle Bank is 82 million. Harrison I. Steans, Chairman of LaSalle's Board, said, "The affiliation of LaSalle with one of the most prominent European Banks adds a significant global dimension to LaSalle. We will have the advantage of international services for our corporate customers plus financial support for the bank." LaSalle National Bank is the sixth largest Bank in Chicago with S 925 million in assets as of June, 1979. The bank has approximately 700 employees and is ranked 190th among United States banks as of December, 1978. its existing U.S. network, consisting of eight offices, two in New York, plus one each in Los Angeles, San Francisco, Houston, Atlanta, Pitts burgh and Chicago. ABN's branch in Chicago will continue its whole sale operations complementary to LaSalle's services. Door to new opportunities The acquisition of LaSalle is fully in line with ABN Bank's strategy to obtain a sound and well-run bank ing business in one of the United States' most important industries and financial centers. For the La Salle National Bank the acquisition opens the door to new opportu nities from which its customers and personnel may benefit. Dr. Andre Batenburg, chairman of ABN Bank's Managing Board, pointed out that ABN Bank, on which LaSalle National Bank will now be able to rely for internatio nal expertise and capital needs, has Staff journal of the ABN Bank, Amsterdam, Holland, and affiliations October 1979, No. 3 LaSalle's top-management. F.l.t.r.: Harrison I. Steans, Chair man of the Board; Thomas J. Wage- man, Executive Vice President; James G. Costakis, Chairman of the Executive Committee and Presi dent; Edward R. Grant, Executive Vice President; Milton F. Darr, Jr., Vice Chairman of the Board; Jack A. Gallas, Executive Vice President. over 40 billion in assets, approxi mately 900 branches in 40 coun tries and a staff of 26,000. Both Mr. Steans and Dr. Baten burg underlined that the acquisition is a meaningful development for the two banks. For ABN Bank, it im plies a significant penetration in the Midwest and a powerful addition to Dr. Batenburg emphasized, "La Salle will remain an American Bank for American people, with a predo minantly American Board of Direc tors, but now it will be enhanced by the financial and professional strength of a truly international bank." He further added, "ABN Bank is The LaSalle Bank Building in Chicago very much aware that LaSalle Na tional Bank plays an important role in serving the local communities in Chicago, and we have made it a point with the regulatory authori ties that LaSalle's position under our ownership will continue to be one of a responsible partner in those communities. LaSalle will continue to be a member of the Federal Reserve System and there will be no change in the FDIC insurance for its deposits." (Continued on Page 4, Col. 1) developed to a certain extent in the past decade or so by reason of the fact that in the early Seventies the Managing Board decided that they would like to concentrate their investments and the new activities of our overseas branches in coun tries which are deemed to be ecorto- mically and politically stable, in the sence that their development is more or less parallel to develop ments in Holland, obviously with out neglecting commercially attrac tive opportunities elsewhere. This was firstly the case in west ern Europe, secondly in North America. In consequence the net work of branches and subsidiaries in Europe is relatively young. It cannot be compared with, say, the Far East, where we have been ope rating for over 150 years, or South America, or even the Middle East." Interesting development "The development in Europe has been most interesting. On the one hand we have started up quite a number of branches under our own (Continued on Page 2, Col. 1) Mr. P.J. Pistor, 48, has been a general manager of the Bank since 1975. He is on the staff of the International Directorate, where he bears special responsibility for Continental Europe, one of the five-country groups into which, for the purposes of the work of the Directorate, the world has been divided (see the Organizational Plan on page 2 of the previous issue). In an interview with the editor of ABN Banknotes, Mr. Pistor dealt with the latest developments in the area for which he is responsible. It is proposed to publish interviews with the other general managers of the Directorate in forthcoming issues. "Let me first say," Mr. Pistor told your editor whom he was receiving in his tastefully furnished room at Head office, on Amster dam's Herengracht, "that it is a great pleasure to have this inter view, because it is always useful to have an opportunity to reveal one's view to one's colleagues at the bank." That is our feeling too, Mr. Pistor. That is the purpose of our new series in ABN Banknotes, and to start with it would be interesting if you could review recent develop ments in Europe. "These European activities have Mr. P.J. Pistor o wnntajBm Amsterdam Ttra<l<.nCXJT„,»,™/* r->L.. A. Jersey (St. Heifer) Vuilly-sur-Soim 0 Zurich Geneva ABN Banknotes Welcome into ABN's worldwide 'Nothing is a fantasy!'

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Algemene Bank Nederland - Banknotes | 1979 | | pagina 1