ABN Amro shake up as investment banking dives

EU sets May 4 deadline for Bank of Italy over Antonveneta

ABN Amro, the Dutch banking group bidding €6.3bn ($8.1bn) for Banca Antonveneta in Italy, has revealed a fresh overhaul of its wholesale banking division, where profits dropped nearly 12% in the first quarter this year.

Financial News reported on Monday that ABN Amro is radically restructuring its investment bank to concentrate on fixed income, financial markets and derivatives.

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