Dutch investment bank NIBC has recruited a former ABN Amro executive to replace one of two board directors who resigned following the collapse of NIBC’s €3bn ($4.4bn) takeover by Icelandic financial services group Kaupthing last month.

NIBC said in a statement today it has hired Jan Sijbrand as chief risk officer, effective immediately, to replace Jurgen Stegmann, who tendered his resignation along with NIBC chief executive Michael Enthoven on January 30.