In his new position, Herald Top will oversee syndicated loans, private placement, bond syndicate, corporate, structured and financial institutions DCM, ECM and ratings advisory businesses.
Top has a background in the loan market, he became European head of loan syndication in 2009, becoming European head of corporate DCM in 2011.
In 2015 Top’s role expanded to included oversight of loans and all corporate debt capital markets activity globally.
It has not been decided whether someone will be appointed to fill Top’s former position or whether the role will be dismantled and people hired separately for the different responsibilities, such as head of syndicated loans.
“It’s too early to tell,” Top told GlobalCapital on Friday.
Top joined Rabobank from Lloyds in 2005, his first job at the bank was managing director in loan syndication. In his new role, he reports to Jasper van Wel, global head of markets.
Top has replaced Marco Roddenhof , who has become head of portfolio management, a newly created role.
Both Roddenhof and Top will remain based in Utrecht, the Netherlands.
Roddenhof is now responsible for the coordination and optimisation of Rabobank’s balance sheet activities.
Last year Rabobank said it planned reduce its balance sheet by at least €100bn to meet Basel regulations that put heavy risk weights on mortgages with high loan-to-value ratios.
The bank’s €204bn mortgage portfolio was pinned as a prime target for large sales since Dutch mortgages have higher than average LTVs and debt-to-income ratios.
The new portfolio management head role reports to the bank’s chief financial officer, Bas Brouwers.
Roddenhof did not respond to request for comment at the time of publishing.