Robeco
From Wikipedia, the free encyclopedia
| Robeco Groep N.V. | |
|---|---|
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| Type | Subsidiary |
| Founded | 1929 |
| Headquarters | Rotterdam, The Netherlands |
| Key people | George Möller (Chairman) |
| Industry | Financial services |
| Products | Asset Management |
| Revenue | ▲ €1.166 billion (2006) |
| Operating income | ▲ € 657.5 million (2006) |
| Net income | ▲ €193.4 million (2006) |
| Employees | 1600 (2006) |
| Parent | Rabobank Groep |
| Website | www.robeco.com |
Robeco is a Dutch asset management firm founded in 1929 as the Rotterdamsch Beleggings Consortium (Rotterdam Investment Consortium). In 2006 the company had more than € 141 billion of assets under management. It was acquired in 2001 by the Rabobank Groep
Robeco offers assets management services to both institutional and private investors. The funds for private investors are available through Robeco itself and other financial institutions, a number of these funds are also listed on major European stock exchanges. Since 1981 the company also offers savings accounts through its own savings bank Roparco.
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[edit] History
Robeco was founded in 1929 as the Rotterdamsch Beleggings Consortium by a group of prominent investors from Rotterdam. The company had a startup capital of almost 2 million guilders, but by 1931 less than half was left. [1] But the company managed to survive the 1930s and managed to grow during the second world war by heavily investing in United States.
The period after the second world war was characterised by further growth and the launch of a number of successful funds. By 1975 the company had grown to be the largest asset management fund in the Netherlands and one of the largest in Europe. [2] In the 1980s the company started to diversify by opening its own savings bank Roparco. The company also expanded internationally by opening offices in other European countries. The company continued its international strategy in the 1990s and 2000s by acquiring a number of US based firms. The company also started a close cooperation with the Rabobank, which would eventually lead to the takeover of Robeco by the Rabobank in 2001.
[edit] Performance
The stocks managed by Robeco performed better than the benchmark over the period 2004-2006, beating the benchmark on average with 0.89%. However performance was weaker over 2006 than it was over 2004 and 2005. The bonds managed by Robeco performed below the benchmark, however.
[edit] Headquarters
Robeco is currently headquarters in the 95 meter tall Robeco toren in Rotterdam on the corner of the Coolsingel and Blaak. The building was designed by the architect Wim Quist and was completed in 1992. The building is clad in a polish black granite, which, according to some, gives it a strict and formal appearance [3], while others call it a "doodsquist" [4] (a pun combining the Dutch word for coffin and the name of the architect).
The building however, was designed to house approximately 700 employees, but the company has since grown to approximately 1600 employees, meaning the current building is too small and the employees are scattered around the city over different locations. The floor space of each floor is also to small which hampers internal communication and cooperation. [5] The company is thus looking for a new officebuilding. The most likely candidate are the Coolsingel Torens by design of Christian de Portzamparc which would be completed by 2012.
[edit] Links
(Dutch) Robeco, a short history
[edit] References
(All references are Dutch)
- ^ Robeco groeit aan Coolsingel in ‘doodsquist’ uit zijn jasje - dinsdag 12 februari 2008 - DePers.nl
- ^ Robeco Institutional - History
- ^ #26 Robeco, Rotterdam - Page 2 - SkyscraperCity
- ^ Robeco groeit aan Coolsingel in ‘doodsquist’ uit zijn jasje - dinsdag 12 februari 2008 - DePers.nl
- ^ SkyscraperCity - View Single Post - Rotterdam: Coolsingeltoren (5)
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