ING will propose to the 2017 Annual General
Meeting (AGM) on 8 May 2017 to appoint Koos Timmermans and Steven
van Rijswijk as members of the Executive Board. Upon appointment
they will also become members of the Management Board Banking of
ING. Koos Timmermans will become chief financial officer as of the
date of the AGM, succeeding Patrick Flynn who has decided to pursue
his career outside of ING. Steven van Rijswijk will become chief
risk officer as of 1 August 2017, succeeding Wilfred Nagel, who
will retire as of that date.
ING also proposes to the AGM to re-appoint Ralph
Hamers, currently CEO of ING, to the Executive Board for a next
period of four years. Ralph Hamers was appointed to the Executive
Board at the AGM in 2013 and became its chairman and CEO on 1
October 2013.
Koos Timmermans (Dutch, 1960) is currently
vice-chairman of ING's Management Board Banking and is responsible
for ING Bank's operations in the Benelux as well as for aligning
ING Bank's activities and balance sheet with new and upcoming
regulation. Koos Timmermans started his career with ING in 1996. He
was a member of the Executive Board of ING Group and chief risk
officer from 2007 until 2011, when he was appointed to his current
role. In 2014 he assumed responsibility for the bank's operations
in the Benelux. Next to his new role as chief financial officer, he
will remain vice-chairman of the Management Board Banking.
Steven van Rijswijk (Dutch, 1970) currently is
global head of Client Coverage within ING Wholesale Banking. Steven
joined ING in 1995 in the Corporate Finance team, holding various
positions in the Mergers & Acquisitions and Equity Capital
Markets space. In 2010 Steven became head of the Capital
Structuring and Advisory team and in 2012 became global head of
Corporate Clients. In 2014 he assumed his current role, becoming
responsible for relationship management, transaction services and
corporate finance for corporate clients and financial institutions
in over 40 countries, while being a member of the Global Credit
Committee and the Wholesale Banking Executive Team. Steven holds a
master's degree in business economics from Erasmus University
Rotterdam.
Patrick Flynn became a member of the Executive
Board and its chief financial officer in 2009 following a career at
KPMG and HSBC. Wilfred Nagel joined ING in 1991 and held several
international roles across the bank. In 2011 he became its chief
risk officer and in 2012 was appointed to the Executive Board.
Jeroen van der Veer, Chairman of the Supervisory
Board of ING Group commented: "I want to thank both Patrick and
Wilfred for their valuable contributions over the past years,
transforming ING into a leading pan-European bank with the robust
financial foundation it has today. Patrick played a fundamental
role in our restructuring and divestment programmes while Wilfred
was pivotal in diversifying ING's balance sheet, reducing the
volatility of ING's capital and results. I am confident that Koos
Timmermans and Steven van Rijswijk will successfully continue the
acceleration of our Think Forward strategy, enhancing the customer
experience and driving change. As part of a strong and dedicated
team I am sure they will build on the success of ING as one of the
digital leaders in the financial industry."
Roland Boekhout (Dutch, 1963), currently CEO of
ING in Germany, will become a member of the Management Board
Banking, taking up the responsibility for ING Bank's operations in
the Benelux, executing the intended integration of ING's banking
platform in the Netherlands and Belgium as announced on 3 October
2016. Roland joined ING in 1991 as a credit analyst. After that he
held various international management roles across ING. In 2008 he
became CEO of ING's wholesale banking operations in Central and
Eastern Europe. In 2010 he was appointed as CEO of ING in Germany.
Roland holds a master's degree in Business Administration from
Erasmus University Rotterdam.
Nick Jue (Dutch, 1965), currently CEO of ING in
the Netherlands, will be appointed CEO of ING in Germany. Nick will
continue to build on ING's success in Germany offering retail
products and services through our digital platform to over 8
million clients and expanding the wholesale bank, offering products
to local and international corporate clients and financial
institutions. Nick joined ING as head of marketing for the savings
department of Postbank in 1993. After that he held various
international management roles across ING. In 2007 he assumed
responsibility for ING's Dutch retail banking operations. Nick
holds master's degrees in Management Sciences from Erasmus
University Rotterdam and Marketing from Tilburg University.
Announcements on Nick's succession will be made in due course.
The proposed appointments to the Executive Board
and Management Board Banking are intended to come into effect as of
the 2017 AGM on 8 May 2017 and have been approved by the European
Central Bank. Nick Jue's appointment is subject to regulatory
approval. Full details of the proposed (re-)appointments to the
Executive Board will be included in the proxy materials for ING's
2017 AGM on 8 May 2017, which will be published on 23 March
2017.
Note for editors
For further information on ING, please visit
www.ing.com. Frequent news updates can be found in the Newsroom or
via the @ING_news Twitter feed. Photos of ING operations, buildings
and its executives are available for download at Flickr. Footage
(B-roll) of ING is available via videobankonline.com, or can be
requested by emailing info@videobankonline.com. ING presentations
are available at SlideShare.
Press
enquiries |
|
Investor
enquiries |
Raymond Vermeulen |
|
ING Group Investor Relations |
+31 20 576 6369 |
|
+31 20 576 6396 |
Raymond.Vermeulen@ing.com |
|
Investor.Relations@ing.com |
ING PROFILE
ING is a global financial institution with a
strong European base, offering banking services through its
operating company ING Bank. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank's
52,000 employees offer retail and wholesale banking services to
customers in over 40 countries.
ING Group shares are listed on the exchanges of
Amsterdam (INGA AS, INGA.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's
strategy, which is evidenced by the number one position among 395
banks ranked by Sustainalytics. ING Group shares are being included
in the FTSE4Good index and in the Dow Jones Sustainability Index
(Europe and World) where ING is among the leaders in the Banks
industry group.
IMPORTANT LEGAL
INFORMATION
Elements of this press release contain or may
contain information about ING Groep N.V. and/ or ING Bank N.V.
within the meaning of Article 7(1) to (4) of EU Regulation No 596/
2014.
Projects may be subject to regulatory approvals.
Insofar as they could have an impact in Belgium, all projects
described are proposed intentions of the bank. No formal decisions
will be taken until the information and consultation phases with
the Work Council have been properly finalised.
Certain of the statements contained herein are not
historical facts, including, without limitation, certain statements
made of future expectations and other forward-looking statements
that are based on management's current views and assumptions and
involve known and unknown risks and uncertainties that could cause
actual results, performance or events to differ materially from
those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets,
(2) changes in performance of financial markets, including
developing markets, (3) potential consequences of European
Union countries leaving the European Union or a break-up of the
euro, (4) changes in the availability of, and costs associated
with, sources of liquidity such as interbank funding, as well as
conditions in the credit and capital markets generally, including
changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and
customer behaviour, (8) changes in general competitive
factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory
authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
the application thereof, (12) conclusions with regard to
purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the
future availability to us of net operating loss, net capital and
built-in loss carry forwards, (14) changes in credit ratings,
(15) the outcome of current and future legal and regulatory
proceedings, (16) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (17) the other risks and uncertainties detailed
in the most recent annual report of ING Groep N.V. (including the
Risk Factors contained therein) and ING's more recent
disclosures, including press releases, which are available on
www.ING.com. Many of those factors are beyond ING's
control.
Any forward looking statements made by or on
behalf of ING speak only as of the date they are made, and ING
assumes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information
or for any other reason.
This document does not constitute an offer to
sell, or a solicitation of an offer to purchase, any securities in
the United States or any other jurisdiction.
PDF version of press
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ING Group via Globenewswire
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