Top ABN Amro waives pay rise – ‘totally unexpected’ – nrc.nl

Economy

The board of directors of ABN Amro waives the disputed salary increase. That the board says in a statement.

is in the statement:

“Now that our reward is under discussion and the future of ABN Amro threatens to suffer, let us as always banking and general interest to go and we abandon the conversion. We hope that peace returns now. “

100,000 more

Last week, there was commotion surrounding ABN Amro on the increase in the salaries of six of the seven board members . They were all there at 100,000 euros in 2014, that their overall salary stood at more than 7 tons. Only CEO Gerrit Zalm was no increase.

Dijsselbloem Minister (Finance, Labour) therefore suggested Friday his decision to an IPO of the bank, after pressure from the Lower House.

Council Board just before raising

ABN earlier refused even to reverse the salary increase, showed a letter from the Supervisory Board to the staff of the bank, which is owned by NRC. President Commissioner of ABN Amro, Rik van Slingelandt writes in that he “regretted the negative image that has been created.” He also defends the increase.

It does governance in the explanation:

“The granting of the allowance is based on democratic came about legislation complies with the letter and spirit of the Act, is recorded in a shareholders’ resolution, in accordance with the Minister of Finance and has been reported to the House. “

Our financial policy editor Philip de Witt Wijnen calls the decision governance “totally unexpected.”

“It is contrary to the call of the Supervisory Board. It is a wise decision: we listen to the social unrest. I think this gesture is enough for the Hague critics. Politics, I would think by debate on a socially responsible remuneration policy. Now it comes down to six people who surrender voluntarily. “

Minister Dijsselbloem answered questions in Parliament this week. A debate will probably take place after Easter. Then “could go fast” with the IPO, says De Witt Wijnen. “An IPO in the autumn is now in sight.”

Politics responds positively

Dijsselbloem has announced that following completion of consultations with the room with the Government will reconsider the launch of the IPO. He welcomes the move of the board:

“They thus make an important contribution to the restoration of peace and confidence around the bank. The good results of ABN Amro achieved thanks to the efforts of the employees and directors of the bank, can now receive the attention and appreciation they deserve. “

Henk Nijboer, finance spokesman the Labour Party , said on Twitter:

MP Aukje de Vries of the VVD by news agency Reuters:

” The VVD is fast IPO, but this must be done carefully. I would like the minister to know what timetable he has in mind. This salary increase was bad to explain. Forgoing salary increases indicates that the board has listened to the signals from society and to employees of the bank “

SP -Kamerlid Arnold Merkies.:

“The debate about directors’ salaries at banks goes beyond ABN Amro. Therefore it is good to soon to have a hearing on it in the House “

CDA .

Read NRC Q Why ABN still does not go to the fair, “and” Bankers go again earn more – but is that really so much? “