1530 GMT - The appointment of Marguerite Berard as ABN Amro's new CEO brings some stability to the Dutch bank, ING writes in a research note. CEO Robert Swaak surprised the market last August by announcing his intention to step down shortly after being reappointed. Berard, who comes from BNP Paribas, could bring ABN Amro valuable experience to redefine its focus and strategy as it moves on from the restructuring phase, analyst Jason Kalamboussis writes. While the appointment may fuel speculation about potential takeover interest from BNP Paribas, this would seem very premature, he says. "Given a long history of management changes, stability and staying long in the role if successful would be paramount for ABN at this stage," he notes. Shares rise 0.9% to 15.6 euros, building on Friday's gains. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 10:32 ET (15:32 GMT)
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