ABN Amro Asia Pacific sustainability chief departs as bank cuts non-European corporate finance business

Ghislaine Nadaud leaves the Dutch multinational bank after 14 years of service, as ABN Amro's sustainability function moves out of Asia.

ANB Amro
ANB Amro's exit from the corporate finance sector in Asia and other non-European markets will lead to the loss of around 800 jobs. Image: Valuer

The Asia Pacific head of sustainability of ABN Amro has left the business, as the Dutch multinational bank scales back its operations in the region in the wake of the economic turmoil caused by the Covid-19 pandemic.

ABN Amro exited the corporate and institutional banking sector outside of Europe in August after reporting second-quarter losses, at an estimated cost of about 800 jobs globally. 

The restructures sees APAC sustainability head Ghislaine Nadaud move on after 14 years with the company.

A former lawyer, Nadaud started out as legal counsel for the bank in Amsterdam, then moved into environmental, social and governance (ESG) risk, advisory and monitoring. She has led ANB Amro’s APAC sustainability function since 2016, based in Singapore.

An active figure on Asia’s sustainability scene, Nadaud chaired the sustainable business committee for ADB-DutchCham and is a member of the shared responsibility taskforce for the Roundtable on Sustainable Palm Oil. In a LinkedIn post, Nadaud said she wanted to continue to work in sustainability in Asia.

In response to questions from Eco-Business about its sustainability priorities in the region, the bank said: “ABN Amro remains committed to sustainability. The decision to reduce our presence in APAC is the outcome of a review of our corporate and institutional banking activities.”

“Going forward, our focus will be on clients in Northwest Europe, except for our clearing business which will keep a global scope and presence. Clearing will also have a presence in APAC. Clearing has an important sustainability agenda, which is coordinated centrally out of Amsterdam.”

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