Fortis Bank's well-known head of shipping, Jim Corbeau, is stepping down from his position in order to set up a surprise new equity fund for the group.

Corbeau, who headed the transportation arm of Dutch bank MeesPierson before its merger with Fortis and who had seemed set to assume the same role in the new organisation, will instead move back to his native America where he will act as an independent consultant for Fortis.

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