NETHERLANDS - Dutch securities bank Kas Bank today said it will propose Jean Frijns, former director of investments at Dutch pension fund ABP, as a new supervisory director.

Frijns has been proposed to replace the departing Paul Ribourdouille (70), who served as chairman of the supervisory board in the past six years, but has decided to retire.

The appointment of Frijns - who since 2004 was also the chairman of the Monitoring Committee Corporate Governance Code or ‘commissie-Frijns' - will be proposed at the general meeting of shareholders on April 23.

Albert Röell, chairman of Kas Bank's managing board, said of the proposal: "We expect that Frijns can make a valuable contribution to the further development of our specialised wholesale services within Europe."

He added: "As former managing director of one of the largest global pension funds, he is an expert in the Dutch and European pension industry and international financial markets. With his broad experience in the area of national and international investing and international enterprise, he is a suitable candidate within the required profile as new supervisory director."

Frijns added he will focus on the further expansion of Kas Bank as European securities specialist, in consultation with his fellow supervisory directors.

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