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Investing.com -- ABN Amro Bank NV has started reorganizing its corporate banking unit under newly appointed Chief Executive Officer Marguerite Berard, who took the helm just one month ago.
The Amsterdam-based lender announced the restructuring internally on Wednesday, according to Bloomberg, citing a company spokeswoman. The changes will affect a "small" number of employees, though specific details about the reorganization were not disclosed.
Berard, who previously worked as an executive at BNP Paribas SA (ETR:BNPP), assumed the CEO position at ABN Amro in April. The bank had already implemented a hiring freeze earlier that month as part of efforts to meet its full-year cost targets.
The new CEO is currently conducting a comprehensive review of the bank’s operations with the goal of enhancing profitability. ABN Amro has indicated that Berard plans to unveil a new strategic direction for the company in November.
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