Going Dutch leads to damage control at ABN Amro Mellon

The global custody joint venture is prospering, despite some hiccups

For the second time in a few months, Nadine Chakar, chief executive of ABN Amro Mellon, has found herself conducting a rearguard action with her PR department.

The announcement last month that ABN Amro was selling its sub-custody businesses to Citigroup was splashed across the front page of a leading financial newspaper, with the suggestion that it marked further consolidation in the global custody industry.

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