Interesting transfer Joop Wijn from ABN to Adyen

| 16-1-2017 | Pieter de Kiewit |

Last Thursday I attended a very interesting breakfast meeting about PSD2, organized by Alexander Huiskes of EY with support from DNB. I will write about this in a separate blog. Not being up-to-date on my Financieele Dagblad reading, I was surprised by the question what my opinion is about the transfer of Joop Wijn from ABN Amro to Adyen. I replied to my best knowledge, digested the question and decided upon this blog.

Not being involved at all, I think there are two aspects in this transfer: industry developments and his strategic career management. Fact is that Joop Wijn surprised us before with career changes from banking into politics and back.

We all know banks have to rethink their place in the value chain and their proposition. New services appear and replace traditional banking services. Also traditional services are executed better or cheaper by new suppliers. Adyen , as a payment services provider, offers a perfect example of these developments. Risk management within Fintech gets, just so, increasing attention. Topics like anti money laundering, authentication, fraud and hacking should be addressed. Not only because regulators want this but of course clients see this as essential. My first thought was that Joop Wijn is too senior, as board member of ABN, to be responsible just for risk. As risk management is essential, I can understand Adyen aims this high and Joop accepted.

From a strategic career perspective I have two assumptions. The first is that one of the motivators of Joop might be the impact he can have. Not being considered as chairman of a Dutch bank stops his career advancement, thus the possibility to increase his impact. Being responsible for a strategic topic within a global market leader in a growing market, might be more appealing. The second assumption is that he made a reshuffle of what is important. I often see this with candidates with a longer track record. This move might enable him to change his priorities.

Perhaps he will inform us about the above, perhaps he will keep this to himself. Fact is, it is an interesting career move.

 

 

Pieter de Kiewit
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