ABN AMRO’s Jewelry Business Goes to Fortis

ABN AMRO’s diamond and jewelry division, responsible for an estimated quarter of the jewelry industry’s financing, will be headed to Belgium-based Fortis Bank, a member of the consortium that bought ABN AMRO. The announcement was made by Victor Van Der Kwast, the division’s head, at the Israeli Rough Conference in Tel Aviv.

“We are in the business to stay,” said Van Der Kwast. “We have no intention of reducing our commitment to the industry.”