NEWSLETTER NEWS & EVENTS President’s Letter SPRING 2011 Event Calendar Alumni Survey A review of 2010 and a look The first events for 2011 are A first look at the results of the ahead to another exciting year, confirmed! Find the outline on membership survey conducted by Olivier Gorter. Page 2/3. page 2. in March 2011, on page 4. Sustainability @ Philips Book Launch Dance with Chance Sustainability & Real Estate @ TNT Our National Pride is making strong inroads into sustainable growth through their program EcoVision5. Pages 5 & 6. INSEAD Prof. Spyros Makridakis A lively discussion at the launched the Dutch version of carbon-neutral TNT distribution his book in the Holland Casino center. Read more on page 8. Rotterdam. More on page 7. Booz Strategy Forum Alumni On the Move Salamander Road Challenge 2011 Booz hosted a highly interactive Strategy Forum at the Cobra Museum, themed around the new generation of employees. Read more on page 9 Guido Dubbeld and Nieke Martens, both very active in the NAA, made significant career moves in the past months. More on page 10. Join us for the Salamander in scenic Road Challenge Gelderland, on Saturday June 18th! More information on page 11. Plus…… New Year’s Drinks 2011– page 6 Alumni Authors: Peter Idenburg – page 11 New Arrivals – pages 12/13 Congratulations – page 13 Obituary Willlem Cordia – page 13 Contact details of the IAA NL Board, Clubs and others – pages 14/15/16 Corporate Sponsors of the INSEAD Alumni Association of The Netherlands NEWSLETTER SPRING 2011 EVENT CALENDAR Date Event Location 26 April Health Care Club: Lean in de Zorg Zeist 28 April SIN meets New Venture(s) Amsterdam 12 May Energy Club: Liquid Natural Gas Amsterdam 24 May Meet the Company: Equens Utrecht 6 June New Media Event @ Google Amsterdam 16 June INSEAD Coaching Event Diemen 17/18 June Salamander Road Challenge Gelderland Please note that the Meet the Company Equens has been postponed to later in the year PRESIDENT’S LETTER Dear friends of INSEAD, Happy Easter to all of you! On Thursday april 14th, before the start of the successful Booz & Company Strategy Forum, the INSEAD alumni association of the Netherlands held its Annual General Meeting. All alumni are invited to that meeting, at which your board informs you about the past year, its events, its novelties and its numbers. 2010 was a packed year with lots of high quality events. Besides social events and 3 Meet the Company events, we had an annual dinner at Heineken, we raised € 50.000 to cofound the Alumni Endowment at the Deloittehosted fundraising dinner and we launched a € 1 million fellowship on leadership and governance at INSEAD with Prof. Manfred Kets de Vries. The special interest groups were very active with 15 events including Masterclasses, combined sustainability/energy events such as Electric Cars and a Golf Tournament. Last but not least IN-NED held 4 seminars, a governance Lab and started a new wave of its Academy. decreased to cf. 70%. In addition, few of these members have participated in more than 1 or 2 events. Towards the end of 2010, we have held focus groups with active members from the last 10 years to get ideas on how to counter this trend. The diagnosis was that a ‘soft landing’ needed to be organized for new members, that social networking was increasingly important, that there was a need to ‘bridge generations’ and that some recent grads just don’t have the time but will have time in a few years. After a survey to check our inputs and test our ideas, these ideas have now materialized into our In the meantime, we are looking closely at our membership numbers. We will reach the 1000 members in the next 2 years with half of those MBA’s and half EDP’s. The Netherlands (with Spain) has the highest percentage of alumni who are member of the Alumni Association in a country worldwide (40% of all alumni and 80% of MBA’s) but in the last 10 years the percentage of MBA members has DUTCH ALUMNI ASSOCIATION 2 NEWSLETTER SPRING 2011 plan for 2011 as detailed below. Thank you all for your great ideas. A survey in 2009 by Booz & Company had shown great membership satisfaction (94%, the highest in the world!). In our survey we have reviewed this and came to a ‘recommendation level’ of an average 7.8 and very high satisfaction of Meet the company events and special interest group events. With respect to new event ideas, events with INSEAD professors seem very popular. On-line, we are working hard to improve your experience with INSEAD Connect. In 2010 Connect has migrated to a new platform. In 2011 we will improve navigation, introduce on-line registration for events, introduce a mobile app and improve the website content. The financial year 2010 was a successful year with higher membership income, € 23.000 income from sponsorship, a one-time cost of € 16.000 for the dinner costs of the fundraiser (as agreed at the last AGM) and a result of € 12.000. We have healthy reserves to cover for more difficult times. The IAF had a year that is comparable to 2009 with 140 alumni giving € 180.000. With a participation of 23% the Netherlands is number 1 worldwide in IAF participation. 60% of all gift money has gone to MBA and PHD scholarships and 30% to research. In 2011 we plan to increase membership and activity level of recent graduates through targeted events, involvement of social media DUTCH ALUMNI ASSOCIATION in event invitation and convocation and through a more proactive welcoming attitude toward new graduates. We will work on the bond between alumni through intergeneration activities such as Careers Club and coaching events. We will aim to offer a range of activities that appeal to a broad group of alumni at different stages in their life and with different (professional) interests. In addition, we will further increase the quality of events and organize large (and possibly international) events with external exposure to strengthen INSEAD's brand name in the Netherlands. We intend to further increase the participation % of Dutch alumni in the INSEAD Alumni Fund, both on an annual level and with regards to long term pledges. Sadly, Nieke Martens has decided to leave the IAA Board due to her demanding job, which makes it difficult for her to attend events in the early evening. Nieke has had great contribution in our meetings in the past year and we thank her very much for her enthusiasm and commitment. As an addition to our Board, we welcome Saeske van der Pas-Hogeveen who was a very active and creative member of our focus group on membership. Saeske will be responsible for Membership and for Events together with Jeroen. We have another season ahead of us, packed with great events. I hope to see you there! Olivier 3 NEWSLETTER SPRING 2011 ALUMNI SURVEY Results In March 2011 we held the second bi-annual membership survey, targeted to our Alumni in the Netherlands. Our aim was to get feedback on our current activities and to understand which activities would be preferred for future deployment. Thank you to all of you who took the time to complete the survey! Average Average recommendation recommendation level 7.8 level 7.8 50 40 # Respondents Two surveys were sent out; one to our alumni members, and one shorter version to our non-member alumni. The response rate was 16% for the former and 8% for the latter – a satisfactory result in the area of online surveys. 30 20 10 0 1 2 3 4 5 6 7 8 9 10 Level of Recommendation (scale 1‐10) The main outcomes indicate that we are on the right track, with room for improvement. Also, the survey respondents suggested ideas for new events and special interest groups. In the coming weeks we will analyze the results in detail and follow up accordingly. 160 Not interested Somewhat interested Very interested 140 120 100 80 60 40 20 0 INSEAD Professors presenting Entrepreneur / Investor Speed‐dating Annual "Landing" event new members DUTCH ALUMNI ASSOCIATION Events per graduating class Random Dinners INSEAD gala ball Sports Tournament 4 NEWSLETTER SPRING 2011 REVIEW Sustainability club @ Philips On Thursday November 25, the sustainability club was hosted by Philips in its Corporate Headquarters in Amsterdam. Around 40 alumni joined to listen to an extensive program of presentations by Philips managers about its efforts in sustainability. Joop Heijenrath reports. The event was organized and introduced by Ayelet Barneah (MBA ‘06D), Director at Philips Consumer Lifestyle and INSEAD alumna. recognized as a sustainable leader, so it can be well positioned to take part of that growth. Therefore Philips has put goals in place to have 50%+ of its revenues come from green products by the year 2015. Robert Metzke, Director of Corporate Sustainability at Philips presented the overall vision on sustainability from Philips: EcoVision5. Especially the conclusions around the correlation between human development index, ecological footprint and the amount of planets Earth that are required to fulfill the required growth were eye-opening. There is clearly not enough Planet Earth capacity left for the emerging markets to grow at the same rate and with the same characteristics as the current Western world. After the overall strategic introduction, managers of various product groups introduced their efforts of developing greener products. The greenest LCD TV in the world was presented, including solar powered remote control, as well as the greenest vacuum cleaner. Kaj den Daas, former President of Philips Lighting North America, spoke about the Philips Lighting efforts to green the planet. Its LED and other energysaving technologies were discussed. It means that growth needs to come in a different way. Philips wants to be ready to meet the growth demands in these countries by using sustainable solutions. It means that Philips, more than ever before, wants to be A recurring theme in the discussions and presentations was the apparent change of Philips from a technology push company in the past to a consumer centric firm today. This creates a dilemma when it comes to DUTCH ALUMNI ASSOCIATION 5 NEWSLETTER SPRING 2011 sustainability. The reason is that the “education” by the company to its customers by providing better and greener products developed by engineers has taken a step back versus the customer centric approach of listening to what the consumer actually wants and is willing to buy. Since sustainability is only a high priority with the cultural creative segment, Philips as a main stream provider is not (yet) willing to put all its bets on development of sustainable products alone. This evidently leads to several discussions within Philips, regarding the amount of green products and the positioning of green products versus its traditional or main stream products. Another dilemma that was brought to the table was the concept of Total Cost of Ownership: for example LED lighting is more expensive to purchase, but during the life of the product this is easily been made up for. Philips holds a traditional view on price premiums for sustainable products because of the TCO concept; however consumers do not always use TCO in their purchasing habits. Therefore there is more needed to make the main stream consumer shift. Break-outs were held to discuss the various angles and approaches that Philips could take to become more engaged in sustainability. During this lively group work with old INSEAD memories of cubicles, the various topics were discussed. The main conclusion of the audience was that, although Philips is making significant inroads into sustainability, given its heritage of innovation and social leadership, the company can and should embark on a program with bolder targets than its current mission. After a good discussion, the Philips team was thanked for its presentations and the provided hospitality by the INSEAD Sustainability Club, of course not without presenting them with the traditional gift: a management book from Manfred Kets de Vries. REVIEW New Year’s Drinks @ DLA Piper On Tuesday, January 18th, we were kindly hosted by DLA piper to have our New Year’s Drinks at their offices in Amsterdam. Managing Partner Frans Stibbe kicked off the evening with a presentation, describing the DLA Piper business in the Netherlands, and treating the audience to some classic lawyer jokes. Olivier Gorter, our NAA President briefly looked back on 2010 and outlined the association’s plans for 2011. DUTCH ALUMNI ASSOCIATION 6 NEWSLETTER SPRING 2011 REVIEW Dance with Chance: Dutch Book Launch On December 8th, Maven Publishing organized an event around the book “Dance with Chance” written by Spyros Makridakis, professor in decision sciences at INSEAD. The event was well attended with about 30 INSEAD alumni and some 40 other participants at the Holland Casino in Rotterdam. Charles Kotting reports. The host for the evening was the COO of Holland Casino, Noël Leise. He opened the evening by giving an impression on how Holland casino handles risk in its environment. Ignoring the individual outcomes is the best way - with an average 2% take the bank always wins - in the long run. This profit level gives Holland Casino the ability to work on being a responsible business owner: having about 30.000 interviews per annum with visitors who probably should not be gambling. This was completely contrary to Makridakis’ views, who actually tried to explain the public that they should be gambling more. Take the plane, instead of drive – the control you feel you have by driving is an illusion. The plane is the safer transportation mode. Don’t do yearly medical checkups – the false positive is a larger risk to your health than the chance of actually finding something. All very contrary to our perceptions and our perceived need to have control over our lives! DUTCH ALUMNI ASSOCIATION After a light dinner, Jeroen Smit, author of “De Prooi” and “Het Drama Ahold” gave his insights into the behavior of CEO’s. Jeroen Smit suggested that no successful CEO should be in place more than five years –after this time they start doing more harm than good. He gave some good insights in how well he actually knows the Dutch economic environment and the players involved. He did well in promoting more diversity in boards and following your passions, e.g., not studying business when you are young [red: there is always INSEAD when you want to do it later!]. The evening was closed with some drinks in the casino – who took a risk and won from the bank? For anybody interested in the book “Dance with Chance”, please see http://bit.ly/gcbqya or http://www.analist.nl/hottopics/2010/12/16/7 226/Pas+op+voor+zekerheden 7 NEWSLETTER SPRING 2011 REVIEW Sustainability Club on Real Estate @ TNT On February 15th, TNT hosted a meeting for the INSEAD Sustainability Club in one of its mail distribution centers in Veenendaal. This center is the first carbon-neutral distribution center in the Netherlands. A group of approximately 30 alumni came to listen to the impassioned presentations of our two guest speakers. Joop Heijenrath reports. Flip Verwaaijen, Head of TNT Real Estate, took the group on a tour through the world of (sustainable) real estate at TNT. He shared the reasoning why the company had decided to build a brand-new carbon-neutral/positive head office (the existing real estate investor did not want to join the step towards sustainability), but he also shared the challenges that TNT faces today. the monitoring and measurement of sustainability with the introduction of the BREEAM certificate. Stefan gave an overview of the developments of sustainable real estate and also outlined the challenges in the market. The issues of the high vacancy rates will increase in the next years due to the New Working style, which will allow more people to work from home. He presented with sharp analysis the current ambitions of TNT Real Estate, the role of real estate in the carbon footprint of the company and he discussed the core business at TNT and who the owners of the sustainability drive are inside TNT. His “provocative” style immediately led to a very lively discussion with the audience. After a nice meal, a plenary discussion took place around the challenges that TNT’s Flip Verwaaijen is facing due to the break-up of TNT into two pieces and the departure of Peter Bakker, who was the main catalyst for sustainability within TNT. Also, a discussion took place around several statements that Stefan van Uffelen had brought to the table. Subsequently Stefan van Uffelen from the Dutch Green Building Council (DGBC) took the floor. The DGBC is an independent organization that plays a leading role in the transition towards a sustainable built environment. The DGBC has 326 members from the real estate community, since its inception in 2008. The DGBC is focused on DUTCH ALUMNI ASSOCIATION Everyone went home refreshed with new ideas. Or with the words of the two speakers: Stefan van Uffelen “I really liked this session here tonight.” and Flip Verwaaijen “What an open and enthusiastic crowd. It did give me some new ideas to think about.” 8 NEWSLETTER SPRING 2011 REVIEW Booz Strategy Forum On April 14th, Booz & Company hosted the recurring Booz Strategy Forum in the Cobra Museum with the Theme ‘A new generation of employees, low in numbers, high in Demand.’ Ben Noteboom CEO of Randstad en Prof. Kees Cools, VP at Booz & Company shared their thoughts in an interactive discussion facilitated by Michiel Bicker Caarten. Jeroen Koot reports. Ben Noteboom, with his typical open challenging style, opened with some worrying statistics: in 2030 a shortage of 500,000 people is foreseen in the Dutch job market, in 2050 the shortage will be 1.4 million people. Main drivers for these developments are: a shrinking and aging population and new generations X and Y with a totally different view on life and working. The Schism in society between groups with education and groups without only exacerbates the social problems. Immigration is unavoidable to solve these issues, and lower level jobs are required to provide lower-qualified groups with work. Talent Management should be on the strategic agenda of each board, Ben pleads. given people the freedom back to organize themselves in smaller efficient groups. The scarcity of labor will only accelerate this trend. Employers will have to adapt to this new fact. Each company should develop a view the motivators of these generations: flexible work, jobs with meaning and purpose, and the possibility to develop experiences. Employee loyalty is not a given any more A lively discussion followed with alumni, quoting from their own experiences, well led by Michiel Bicker Caarten. The evening was concluded with a nice dinner next to Appel’s and other beautiful Art of the Cobra Museum. In his presentation “De Bevrijde Aap”, Prof. Cools argued that the optimal group size for humans is approximately 100, like in prehistoric times. The industrial revolution gathered humans around big capital investments like factories, creating large inefficient groups called companies. The IT revolution and new social structures have DUTCH ALUMNI ASSOCIATION 9 NEWSLETTER SPRING 2011 ALUMNI ON THE MOVE Guido Dubbeld (AMP '08Oct): CFO Eneco Per April 1st, Guido Dubbeld (AMP'08Oct) has been appointed CFO of Eneco Holding N.V. Guido has extensive knowledge and experience in the financial and energy sectors. He joined Eneco in 2002 as Risk Manager and subsequently Manager Finance & Control. He was Director Eneco Energy Trade as of 2007. Before joining Eneco, he worked at various financial institutions. Nieke Martens (MBA ‘02J) : Director Private Banking Van Lanschot DUTCH ALUMNI ASSOCIATION 10 NEWSLETTER SPRING 2011 ANNOUNCEMENTS Salamander Road Challenge 2011 “Midsummer Night in Gelderland!” Alumni Authors Peter Idenburg Once again the INSEAD alumni will be hitting the roads for a fun filled event; our 7th Salamander Road Challenge on Saturday, June 18th - this time back in the Netherlands, in scenic Gelderland. “Am I on the right track?” “Is this all that life has to offer?” “If not now, then when?” Mark your calendars and pre-register your equipe (2 persons; alum or partner) with Mary Linn at [email protected] to be guaranteed a start position. First come, First served rule. Peter Idenburg has written an insipiring book “Kentering en Keerpunt – kunst als inspiratiebron voor zelfinzicht”, for people at a hectic point in their life, who do dare to take the time to reflect. Classic cars, lease cars, trucks, cabrio’s all welcome. Prizes for navigation and beauty. No costume required this year! Costs for the SRC 2011 will be €150 per equipe. Date: Saturday June 18th Location: Gelderland Information & Registration: [email protected] DUTCH ALUMNI ASSOCIATION Information: [email protected] 11 NEWSLETTER SPRING 2011 NEW ARRIVALS Paul van Bennekom (AMP’10) The Walt Disney Company (Regional Director) Email: [email protected] Elke Klaassen (MBA’10 D) Boston Consulting Group (Consultant) Email: [email protected] Désireé van Boxtel ( YMP ’97) Karmijn Kapitaal (Partner) Email: [email protected] Roderick Jorna (MBA’10J) McKinsey & Company (Associate) Email: [email protected] Sebastiaan Burgmans (MBA ’10 D) Email: [email protected] Geert-Jan Logtestijn (MBA’85) Bredius Corporate Finance (Director) Email: [email protected] Anita Coronel (MBA’10D) Boston Consulting Group (Consultant) Email: [email protected] Jur Gaarlandt (MBA’10 D) McKinsey (Consultant) Email: [email protected] Jacqueline Govers (MBA’10 D) Boston Consulting Group (Consultant) Email: [email protected] Rolph Haspers (MAP’11) Lease Web BV (Operations Director) Email: [email protected] Joost Heeremans (MBA’10D) Booz&Company Email: [email protected] Wim Heijting (AMP’99) Finch Corporate Strategy Services (Owner/Managing Director) Email: [email protected] Sebastiano Macchi (MBA’09J) Boston Consulting Group (Consultant) Email: [email protected] Tijmen Moerland (MBA’10 D) Booz & Company (Associate) Email: [email protected] Rohit Nalgirkar(MBA’10J) Boston Consulting Group (Contsultant) Email: [email protected] Dirk Pekelharing (Alpha’95) Coloplast (VP) Email: [email protected] Steven de Ridder (MBA’10D) Boston Consulting Group (Consultant) Email: [email protected] Emile Ruempol (AMP’11) HEMA (Manager Franchise Email: [email protected] Bastiaan Hoogendoorn (EMBA’08) KLM Cargo (Head of Freight Handling) Email: [email protected] Sacha Scholten (CCC’10J) SWS Coaching & Consulting (Director) Email: [email protected] Joris Hulst (MBA’10J) McKinsey & Company (BTO Associate) Email: [email protected] Harry Seip (MBA’10D) McKinsey & Company (Associate) Email: [email protected] Jan van Herwijnen (AMP’09Mar) BAM Civiel (Managing Director) Email: [email protected] Ed van Sluijs (AMP’07) GITP (Executive Consultant) Email: [email protected] DUTCH ALUMNI ASSOCIATION 12 NEWSLETTER SPRING 2011 Karine Solnon (IEP’07) Computer Sciences Corporation (Asst. General Counsel) Email: [email protected] Lennert Spek (MBA’10J) Bain & Company (Case Team Leader) Email: [email protected] Olesya Struk (MBA’07J) Philips International (Sr Manager Corporate Strategy & Alliances) Email: [email protected] Hans Taal (IEP’10D) Aon Risk Solutions (Managing Director) Email: [email protected] Jurgen Tolsma (MAP’11F) ING Commercial Banking (Balance Sheet Manager) Email: [email protected] Sjoerd Trompetter (MBA’10D) Email: [email protected] Jesse van Vollenhoven (MBA’10D) McKinsey & Company (Associate) Email: [email protected] Boris Wachters (IEP’09 D) ING (Manager) Email: [email protected] Evert van Walsum (EMBA’08) AFM (Head of Division) Email: [email protected] Annemieke Wisse (MBA’10J) de Baak (Business Development) Email: [email protected] Pascal Wolter (IEP’10D) APG (Programme Manager) Email: [email protected] Ruud van der Zanden((MAP’11F) Philips Lighting (Global Marketing Manager) Email: [email protected] WE CONGRATULATE Raymond (MBA’99D) and Hanneke van Hulst-Steuten on the birth on their daughter, Eline Julie, on November 17, 2010 Michiel (MBA’00D) and Constance Mensink-Gaultherie van Weezel on the birth of their son, Max Johan on February 28, 2011 Nieke Martens (MBA’02J) and Jorrit Schmidt on the birth of their son, Tibbe Henricus Robert Franciscus on March 31, 2011 OBITUARY We extend our sincerest condolences to the family of Willem Cordia (INSEAD Council Member - NL) who passed away on March 31, 2011. DUTCH ALUMNI ASSOCIATION 13 NEWSLETTER SPRING 2011 CONTACTS INSEAD ALUMNI ASSOCIATION BOARD President Olivier Gorter [email protected] Tel. 06 46 25 17 46 Treasurer Charles Kotting [email protected] Tel. 06 53 17 16 06 IAF Joop Heijenrath [email protected] Tel. 030- 228 81 42 Events Jeroen Koot [email protected] Tel. 06 20 44 45 08 Communications, IT & Website Annemarie van Neck [email protected] Tel. 06 11 14 92 93 Membership & Events Saeske van der Pas [email protected] Tel. 06 53 92 19 45 EVENT COMMITTEE Jeroen Koot Marili Bolle Willem Brandt Jean-Louis Goedmakers Charles Kotting Danny Menken Saeske van der Pas DUTCH ALUMNI ASSOCIATION [email protected] Tel. 06 20 44 45 08 [email protected] Tel. 06 27 22 99 72 [email protected] Tel. 06 29 06 37 92 [email protected] Tel. 06 54 78 79 92 [email protected] Tel. 06 53 17 16 06 [email protected] Tel. 06 27 09 14 37 [email protected] Tel. 06 53 92 19 45 14 NEWSLETTER SPRING 2011 SPECIAL INTEREST GROUPS (SIG) PRIVATE EQUITY CLUB Joost de Haas Idgar van Kippersluis Gerben Willems Olivier Gorter [email protected] [email protected] [email protected] [email protected] ENERGY CLUB Guido Dubbeld Rob Mayfield Sjef Peeraer Therese Prisse [email protected] [email protected] [email protected] [email protected] HEALTHCARE AND LIFE SCIENCES GROUP Willem Koelewijn Ymke Fokma Joris van Eijck Eva de Bres-Riemslag [email protected] [email protected] [email protected] [email protected] NON-EXECUTIVES (IN-NED) Roland Zoomers Paul Diercks Hélène Gorter-van Gorp Paul Broersen Peter Idenburg Mauritz de Brauw Jan Theo Bautz [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] SUSTAINABILITY CLUB Joop Heijenrath Lodewijk Westerling Jean-Pierre Sweerts Lilian ter Doest [email protected] [email protected] [email protected] [email protected] Career Club Nieke Martens Sabine Post Lupo Westerhuis Jean-Louis Goedmakers David Voûte [email protected] [email protected] [email protected] [email protected] [email protected] DUTCH ALUMNI ASSOCIATION 15 NEWSLETTER SPRING 2011 INSEAD ALUMNI FUND Joop Heijenrath Matty Vanderbroeck Diederik van Rappard Jos van der Hyden [email protected] Tel. 030- 228 81 42 [email protected] [email protected] [email protected] SALAMANDER INVESTMENT CLUB NETHERLANDS (SIN) Hans Oerlemans Alexander Goad Pieter Ligthart Wouter Staatsen Maarten Feilzer [email protected] [email protected] [email protected] [email protected] [email protected] NEWSLETTER EDITOR Annemarie van Neck [email protected] Tel. 06 11 14 92 93 SECRETARIAT Mary Linn Schnitger Burg.’s Jacoblaan 50 1401 BS Bussum [email protected] Tel. 035 - 692 02 32 Fax. 035 - 692 03 45 BANK RELATION: RABO Bank Utrecht, 39.45.20.327 DUTCH ALUMNI ASSOCIATION 16
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