The Netherlands - banking industry: ABN Amro to slash below board level management from 100 to 40

ABN Amro is planning to reduce the number of senior managers from around 100 to just 40 and is shaking up its executive board to make the bank ‘more client-focused, agile and efficient’.

Among those leaving is Chris Vogelzang, who had been tipped to take over when Gerrit Zalm stood down as chief executive. The managerial jobs to go will run across the level below the executive committee.

The 40 jobs remaining ‘will have a stronger involvement in the strategic direction and the leadership of the bank than before,’ the bank said in a statement. The composition of the ‘top 40’ will be reviewed every year.

‘Over the past few years, the number of bank staff has been reduced considerably but there has been no change in the number of senior managers,’ chief executive Kees van Dijkhuizen said. T

he bank will also have a slimmed down executive board made up of CEO Van Dijkhuizen, chief risk officer Wietze Reehoorn and a new financial boss who has yet to be appointed.

Read more: ABN Amro to slash below board level management from 100 to 40 - DutchNews.nl

European Banking Industry: the Netherlands-Depositing cash into your account is not free at major Dutch banks

Depositing cash into their own  bank accounts is costing Dutch Citizens approximately €5 ($6.82) at a time - after they have done six free deposits -

Dutch banks says it had to introduce these charges and fees because "processing cash is expensive". Children and students, they say  will not have to pay a fee.

As unbelievable as this may sound it is true and worse is that the Dutch center right coalition Government of Rutte and Samson has not taken any action against this disguised form of pure " robbery",

Cash still has a "dominant role" when it comes to small-value transactions. It also remains essential form of payment for lower-income consumers who may not have access to alternative payment options, and it is widely used for retail sector payments.

"Small folks" have made businesses, including banks, who they are, and many companies can collapse as a result of the same "little people" united strength. It's really sad that in 2014 - people still constantly need to fight for what is theirs instead of sharing what we have, so we all can gain.

EU-Digest