ABN Amro Asset Management has responded to attempts to poach senior members of its Australian equity team by devising a new incentive structure, to which its star analysts have broadly agreed.

It is understood that senior members of ABN Amro AM’s team, including head of Australian equities George Clapham, and senior analyst Mark Nathan, had been receptive to overtures from backers Fortis will be acquiring (amongst other parts) ABN AMRO Asset Management, globally. As there is no Fortis Investments in Australia, this should be quite straight forward and we expect business to continue as usual. In relation to the “;interest”; in the Australian Equity team, we have been conscious for some time that they would have been an attractive target for a third party, given their success over the last few years. As a result, we have been working with the team to set up a more appropriate structure to reflect their contribution to our business. We have recently agreed on the terms of this structure with the team and will finalise the arrangement shortly.