The Childrens’ Investment Fund, the activist hedge fund that is one of the largest individual investors in Netherlands-based ABN Amro, has written to the bank’s chairman seeking a strategic overhaul of the business, which it says has underperformed the banking sector for years.

In a letter sent on Tuesday to the chairman of ABN Amro’s supervisory board, Arthur Martinez, and Rijkman Groenink, chief executive, TCI has proposed five resolutions aimed at forcing the bank to spin off, de-merge or sell some of its sprawling businesses around the world and to call a temporary halt on new acquisitions.