The chairman of ABN Amro will walk away from the Dutch bank with at least €26 million (£18 million) after a Royal Bank of Scotland-led consortium declared victory yesterday in the world's largest banking takeover.

Rijkman Groenink, chairman of the ABN managing board, said that he would end his 33-year career with the bank on the day that a special general meeting is held by its new owners to appoint fresh faces to the board.

The meeting will be held at “short notice”, ABN said yesterday.

A spokesman for ABN said that Mr Groenink’s exit payment would not be made final until the bank’s supervisory board meets in a few weeks.

Last year Mr Groenink was paid €924,000 in basic salary, a €1.5 million bonus, €1.3 million in preference shares and a €286,000 pension contribution.

It has been reported that his share options are worth as much as €26 million.

On Friday the chairman saw Barclays, his preferred buyer for ABN, admit defeat after the RBS consortium’s €71.1 billion offer gained support from 86 per cent of ABN shareholders after a seven-month bid battle.

Barclays received less than 1 per cent support.

Mr Groenink had hoped to avoid a break-up up of ABN, which is now expected to take place over the coming three years.

Yesterday he said: “It is appropriate for me to make way for a successor who is willing and able to execute the consortium’s plan.”

It is understood that Mr Groenink made the decision to step down and was not forced out by the consortium.

Declaring the consortium’s offer unconditional yesterday, Sir Fred Goodwin, the RBS chief executive, said that the consortium was working closely with ABN’s executives to decide whom to appoint to the bank’s supervisory and managing boards.

“We’ve acquired a lot of talent, as well as having talent of our own,” he said.

“We’re quite well advanced with our plans.”

Sir Fred is to meet Mr Groenink this morning to discuss his departure.

Remaining shareholders have until October 31 to tender stock.

Those who have already done so will receive the consortium's payment by October 17.

Sir Fred rejected criticism by John Varley, the Barclays chief executive, that the consortium had overpaid for ABN.

“The best way to answer this is with the numbers, and we look forward to doing that,” Sir Fred said.

The RBS chief said that he was comfortable with the synergy targets and unconcerned by taking on, at a time of global financial turmoil, the part of ABN most exposed to capital markets.

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