ABN AMRO will start providing its escrow and settlement services in Asia as it focuses its international growth on specialist businesses.
Paul Timmermans has been appointed head of Escrow and Settlement Asia and will be responsible for building its escrow franchise in the region.
"As an escrow agent, the bank acts as a neutral third-party holding funds in a blocked account on behalf of contract parties subject to terms and conditions as agreed in an escrow agreement," it said.
Escrow and Settlement also has offices in Rotterdam and London.
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