Here is a shock:
Anna Martin, a true legend in the business and for over 40 years a stalwart of ABN-Amro’s Diamond and Jewelry Division in New York, has left the bank, to take a position at another bank, where she will also work with the diamond and jewelry business.
ABN has already appointed a successor – Rob Broedelet.
Broedelet “has been with ABN Amro since 1980 and he has a similar background to mine,” says Loet Kniphorst, the head of the global ABN Amro Diamond and Jewelry Division. “He has worked with Latin America and the Far East and the Middle East and done some work with the diamond line.”
Kniphorst notes that, despite Anna’s departure, ABN “has no intention to change things. In terms of exposure and credit lines, we have actually increased, rather than decreased, our commitment.”
He notes that his bank has been in dialogue with the major rough producers about supplies and pricing.
“I think they all understand that, with credit today, you can no longer just snap your fingers and get $10 million,” he says.
The fate of the ABN-Amro D and J division has certainly been the subject of much speculation lately. The bank was first taken over by Fortis, and is now the property of the Dutch government.
Kishore Lall, who worked with Anna as global head of business development, also left the bank about a month ago to go to Standard Chartered Bank to develop a diamond and jewelry portfolio.
While it is shocking to see Anna leave ABN, having more banks involved in the industry is certainly positive for the trade and we hope to bring you more on this soon.