ABN Amro rises again

[SINGAPORE] ABN Amro, the oldest bank in Singapore, is basking in the sun again. The sign of the Dutch bank was restored on Monday to prominence on the facade of One Raffles Quay, signalling the bank's resurgence following the global financial crisis, when the group had to be rescued by the Dutch government.

"I will not be emotional at an interview . . . but it is emotional to see this," said Jeroen Rijpkema, chief executive officer of ABN Amro Private Banking International.

The bank was an anchor tenant at One Raffles Quay, taking up six floors of the building when it was opened in 2006; the sign came down in 2008 when the bank had to sell many businesses, including its retail unit. The bank now employs 520 people in Singapore, of which 330 work for the private bank. In 2007, it employed 1,500 staff.