ABN Amro Bank may cut 60 of its 100 senior management jobs and reduce the number of top executives by more than half. It is proposed that the new management board will include the heads of retail, commercial, corporate and institutional, and private banking. It will include chief executive officer Kees van Dijkhuizen as well as the vice chairman and a chief financial officer who has not yet been appointed. The bank, which is 70% owned by the Dutch government following a state rescue, had said it would cut 1500 jobs as it steps up cost reduction. Under the new structure, the composition of the remaining 40 executives will be reviewed annually. The number of executives on the managing board and the senior managing directors will be reduced to nine from 19.
