ABN Amro aims for one of the top three places on the local private banking market within the next five years, and expects an up to 20% share of a market estimated to include 500,000 clients by 2012. "Currently, we are operating on a private banking market estimated at 100,000 clients, which could reach 500,000 clients by 2012. We want ABN Amro to be one of the top three players and to have a 15-20% share of the private banking market," John Bell, head of the retail division of ABN Amro in Romania, said yesterday. The bank has launched exclusive "Preferred Banking" services, dedicated to clients with over 5,000-euro monthly incomes, as well as to clients with over 50,000 euros in cash available. "We are mainly addressing senior managers in multinational companies, entrepreneurs, as well as those who practise liberal professions (doctors, lawyers, etc)," explains Peter Weiss, president of ABN Amro Romania, who added that the new services will enable the clients to invest in mutual funds and in corporate bonds. The concept includes a dedicated relationship manager (accessible through a call centre with a personalised access number), available 24 hours from anywhere in the world, a current account, a debit card, an overdraft facility and a Black exclusive card. In terms of investments in mutual funds, ABN Amro will work with the local division of the investment management company Pioneer Investments, a member of the UniCredit group. "In the future, we expect the number of partners in the investment management sector to grow," said Bell. The bank will also concentrate on consumer banking in the coming period.
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