[Excerpt] Rabobank Nederland (RN) is part of Rabobank Group, which provides financial services and insurance. It is the largest financial services provider in the Netherlands. The group operates in 47 countries and has an employee base of 59,670 full-time equivalents (FTE). In the Netherlands RN has an employee base of 6,800 FTE, which is more or less equal to 8,500 employees. RN is a cooperative, located in Utrecht, and the administrative centre for 139 (2011) local cooperative Rabobanks. The local banks are not branches of RN as each of them has its own banking licence from the central Nederlandsche Bank. The joint employee base of the local Rabobanks is 27,000 FTE. The 139 local Rabobanks, RN and affiliates, provide services to some 10 million clients, including 1.9 million members (Rabobank Annual Report, 2011).