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RAPAPORT... ABN AMRO reorganized its client segments, which the bank contended would improve the transparency of each business sector. Beginning with the third quarter results, ABN AMRO will present four reporting segments, namely retail banking, private banking, corporate banking (including sub-segments) and group functions. The bank renamed its commercial and merchant banking segment to just corporate banking and its mission is designed with a sector-based approach that includes commercial clients, international clients and capital markets solutions. The diamond and jewelry sector now falls under ABN AMRO's international clients business, which also includes business clients with revenue in excess of $310 million (EUR 250 million) as well as those in the energy, commodities and transportation sectors. Diamond and jewelry clients were previously under ABN AMRO's private banking umbrella. The bank will release its third-quarter financial results on November 14.
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