ABN AMRO Bank Wins Cash Management Mandate for Swedish Match
Swedish Match has appointed ABN AMRO Bank to manage its European cash management needs across four countries. Swedish Match will be able to take advantage of ABN AMRO Bank’s local contacts within its European banking network. To optimise interest earnings and cash management, the euro accounts will be pooled on a cross-border zero balancing basis. This will provide Swedish Match with a single net euro position for the Netherlands, France, Belgium and Spain. Roll-out of the new structure began in September and will be finalised in October 1999.