AMSTERDAM (dpa-AFX) - ING Group(ING) said that it will propose to the 2017 Annual General Meeting 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 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.
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.
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.
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.
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.
Copyright RTT News/dpa-AFX