Transcription
Meeting between : B.P. Constant, Director Corporate Banking Division
M.J.C. Pattinson, Amsterddam
A.D. Dirkzwager, manager Rotterdam Branch
Date : 24th April 1993
Subject : Restructuring of the Dutch operations of Lloyds Bank Plc.
On 12th April 1993 the undersigned was invited for lunch in Amsterdam
together with B.P. Constant, Corporate Banking Director, London and M.J.C.
Pattinson, Principal Manager, The Netherlands on April 19th 1993. No
specific topic was on the agenda. I contacted Mike Pattinson to suggest to
bring along my Deputy Manager, Andrew Bonar, in case detailed questions
would be asked on the number-crushing on our recent adjusted budget
returns. Andrew Bonar's assistance was not required. When I observed if
"Adriaan Dirkzwager" was on the agenda, jokingly Mike responded "You are
always - 24 hours-on my agenda". The lunch was postponed to 22nd April
1993 due to an illness of Mr. Brian Constant.
We met around 11.30 hours at the bank premises in Amsterdam and walked to
the Oesterbar, Leidseplein. After some introductory conversation whether or
not the Bundesbank would lower its interest rate that afternoon and whether
or not gentleman X did act consistently in line with his employment
agreement when reassigned to Head Office in London, the main subject was
broached.
Based on our latest revised budget and after carefully having considered
all options - including the one of transferring the treasury operations to
Rotterdam - the bank is considering, whilst observing all local rules, to
close Rotterdam branch in order to create a long term sustainable operation
in Amsterdam. At this juncture it is only an intention and it will become
reality when all parties concerned have agreed to the restructuring
proposal. Thereafter Brian Constant explained that in the new set-up there
was no place for Adriaan Dirkzwager and with him 4 others as well. Brian
Constant requested my loyal cooperation to the restructuring plans. I
commented that I can understand the business decision, however, I
vehemently disputed the policy ("too germanic") which has brought about
this predicament. The message that I would fall out of the nest and not
having a job any longer was an unpleasant surprise, to put it mildly, the
more so because I was of the opinion that the undersigned was the linchpin
(12 years with Lloyds Bank, the Netherlands in a senior position) of the
Dutch operations which so frequently had to cope with changes in
management. I observed that I could intelligently react to my requested
resignation after I have understood the consequences. This is for me a
totally new situation for which I was ill prepared. Mr. Brian Constant was
appreciative of my ill fortune. The bank would certainly take into account
that Adriaan Dirkzwager has been a loyal employee during twelve years when
we would discuss a compensation. I brought up that most probably the bank
will be represented by Brian Constant - since the Lloyds Bank entity is an
abstract structure - and I requested him to remember that any amount the
bank is being requested to pay as a compenstion for the job loss, that such
monies would not come out of his personal pocket; in other words it would
not be to the detriment of his own networth. I informed both "convives"
that I will seek advice on the new product "Adriaan Dirkzwager" and will
revert as soon as possible.
Signed:
A.D, Dirkzwager
Manager
