ING announces Management Board changes
(Thomson Reuters ONE) -
ING announced today that it will appoint Koos Timmermans (Dutch, 1960) as Vice-
Chairman of the Management Board Banking as of 1 October 2011. Eric Boyer de la
Giroday, currently Vice-Chairman of the Management Board Banking, will retire as
of the same date.
Koos Timmermans, currently Chief Risk Officer and member of the Executive Board
of ING Group, joined ING in 1996. He was previously Head of Treasury ING
Insurance, Head of Corporate Market Risk Management and deputy CRO of ING Group.
In his new role, Koos Timmermans will focus on aligning the strategy and
operations of the bank with new and upcoming regulations and optimising the
bank's balance sheet under these regulations.
Considering his new role, Koos Timmermans will step down from his roles as Chief
Risk Officer and member of the Executive Board of ING Group and as member of the
Management Board Insurance as of 1 October 2011.
Koos Timmermans will be succeeded by Wilfred Nagel (Dutch, 1956), who will be
appointed Chief Risk Officer and member of the Management Board Banking and
Management Board Insurance. The Supervisory Board also intends to propose to
shareholders that Wilfred Nagel be appointed as member of the Executive Board
and Chief Risk Officer of ING Group at the Annual General Meeting in May 2012.
Until that moment, Patrick Flynn (CFO of ING Group) will assume the
responsibility for Risk at ING Group level.
Wilfred Nagel, currently CEO of ING Bank Turkey, joined ING in 1991 and has held
various positions including Global Head Credit Risk Management and CEO Wholesale
Banking in Asia. Wilfred Nagel brings strong risk management skills as well as
operational and international experience.
Eric Boyer started his career in 1978 at Citibank in Europe. In 1984 he joined
Belgian bank BBL (acquired by ING in 1998), working in a range of managerial
positions in the fields of capital markets, treasury and corporate banking. From
2004 to 2009 he served as a member of the Executive Board of ING Group,
responsible for Wholesale Banking. Eric Boyer was appointed to the Management
Board Banking in 2009 and became Vice-Chairman as of 1 January 2010. In May of
this year, Eric Boyer was appointed Chairman of the Supervisory Board of ING
Belgium, a position he will continue to hold after retirement from the
Management Board Banking.
Jan Hommen, CEO of ING Group said:" I would like to thank Eric for his important
and dedicated contribution to ING over the past 27 years. His broad experience
in the financial industry and deep understanding of financial markets helped
steer ING through the recent challenging years. His strong analytical skills and
conceptual thinking have been invaluable. I am pleased that he will continue to
serve ING in his role as Chairman of the Supervisory Board of ING Belgium."
The appointment of Wilfred Nagel is subject to formal approval by the Dutch
Central Bank.
Press enquiries Investor enquiries
Raymond Vermeulen Investor Relations
+31 20 541 5682 +31 20 541 5460
Raymond.Vermeulen(at)ing.com Investor.relations(at)ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a broad
customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal base
for an independent future for our insurance and investment management
operations.
IMPORTANT LEGAL INFORMATION
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, 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) the implementation of ING's restructuring plan to
separate banking and insurance operations, (4) changes in the availability of,
and costs associated with, sources of liquidity such as interbank funding, as
well as conditions in the credit markets generally, including changes in
borrower and counterparty creditworthiness, (5) the frequency and severity of
insured loss events, (6) changes affecting mortality and morbidity levels and
trends, (7) changes affecting persistency levels, (8) changes affecting interest
rate levels, (9) changes affecting currency exchange rates, (10) changes in
general competitive factors, (11) changes in laws and regulations, (12) changes
in the policies of governments and/or regulatory authorities, (13) conclusions
with regard to purchase accounting assumptions and methodologies, (14) changes
in ownership that could affect the future availability to us of net operating
loss, net capital and built-in loss carry forwards, and (15) ING's ability to
achieve projected operational synergies. 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.
PDF version of Press Release:
http://hugin.info/130668/R/1536094/468596.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via Thomson Reuters ONE
[HUG#1536094]
Unternehmensinformation / Kurzprofil:
Datum: 04.08.2011 - 07:02 Uhr
Sprache: Deutsch
News-ID 56959
Anzahl Zeichen: 6712
contact information:
Town:
Amsterdam
Kategorie:
Business News
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