ABN AMRO goes from 'green to blue'
By Larry Schlesinger
|
20 Mar 2009
The rebranding of reverse mortgage provider ABN AMRO as Royal Bank of Scotland (RBS) has now been completed. This follows the UK bank buying its Dutch rival last year.
According to Martin Lynch, head of reverse mortgages at the RBS Group, the rebrand has seen a change from "green to blue" but the products and people behind it remain the same.
"It's just name change to products," Lynch said, adding that he believed the RBS people had a stronger understanding of the reverse mortgage business.
"It's also simpler to explain to people who RBS is than ABN Amro...and it's pleased some of our Scottish customers too," Lynch said.
Lynch said business volumes remained strong with the fall in rates stimulating demand.
He also confirmed that commission rates had not changed. "We have a long term view [to working with brokers] and are not looking to develop a direct lending capacity. We need stable relationship," he said.
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Lynch: ABN Amro still strong
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