Concerns roil prop clearing waters in wake of ABN losses
State-backed lender insists few clients have defected – but sharks circle, post-Parplus
When ABN Amro Clearing sustained a $200 million net loss from New York-based hedge fund Parplus Partners, it contacted its hundreds of clients to explain what had happened, and reassure them all was well.
But as the months rolled by, firms’ curiosity has shifted from what happened in March to what will happen in August.
That’s when the lender will announce the results of a major review of its corporate and investment banking division, which suffered a loss of €575 million ($649.8 million)
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