SNS Reaal to Move Treasury Operations to Utrecht From Amsterdam

SNS Reaal NV (SR), a Dutch bank and insurer, plans to move its financial-markets unit from Amsterdam to Utrecht, where the headquarters are.

The move is aimed at centralizing activities and bringing the treasury activities closer to the bank’s management board, Bart Toering, an Amsterdam-based managing director of SNS Financial Markets, said by telephone today.

The unit, responsible for treasury activities for SNS Bank and partly SNS Reaal group, has about 50 to 60 employees, Toering said. No jobs will be lost as a result of the move, which should be completed by the first quarter of 2014, he said.

The firm’s securities unit will remain in Amsterdam for now, said Jeroen de Graaf, a spokesman for SNS Reaal.

To contact the reporter on this story: Maud van Gaal in Amsterdam at mvangaal@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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