ABN Amro Jewelry Group Copes With Changes

G. Loet Kniphorst, global director of the ABN Amro Diamond and Jewelry Division, announced his retirement recently. Kniphorst's retirement comes as the jewelry group, which accounts for an estimated 25 percent of the industry's financing, has been beset by sudden and unexpected changes. First, the division was purchased by Scottish bank Fortis. When Fortis failed, the jewelry group became the property of the Belgian government, and now the Dutch government. In November, Anna Martin, a mainstay of the New York jewelry division for over 40 years, left the company to become managing director of the new diamonds and jewelry division at Standard Chartered Bank. She was replaced by Rob Broedelet. Kniphorst said he will remain as a consultant to the group.

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