ABN Head of Commodities Said to Leave Dutch Bank to Start Fund

  • Jan-Maarten Mulder joined ABN Amro from trading firm Trafigura
  • Mulder said to leave to create his own venture capital fund

The head of commodities at ABN Amro Group NV is leaving the Dutch bank after nearly three years to start his own venture capital fund, according to a person familiar with the matter.

Jan-Maarten Mulder, who joined in 2013 from oil and metals trading house Trafigura Group Pte, where he worked as global head of corporate finance, is leaving the commodities sector to invest in the financial services technology sector, the person said, asking not to be identified because the information isn’t public.

A spokesman for ABN confirmed that Mulder was leaving and declined to comment further.

The lender, together with Dutch rivals ING Groep NV and Rabobank Groep, has seen lending to commodities traders as a key area for expansion as competitors, including French banks, retreated.

ABN Amro boosted average annual revenue at its energy, commodities and transportation client division -- which includes lending to commodity traders and producers -- by 10 percent to 20 percent in the seven years through 2015.

The Netherlands has been engaged in commodities trade since the Dutch East India Company began bringing spices from Indonesia to the canals of Amsterdam more than four centuries ago. ABN Amro and ING trace their roots to merchant banks, while Rabobank was formed as a cooperative lender in 1898 to serve Dutch farmers.

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