Koos Timmermans to step down as CFO and member of the Executive Board of ING Group
11 Septiembre 2018 - 12:31AM
ING announced today that Koos Timmermans will step down from his
position as chief financial officer and member of the Executive
Board of ING Group and will leave the company. His resignation
follows the announcement on 4 September 2018 of the settlement
regarding shortcomings in the execution of customer due diligence
policies to prevent financial economic crime at ING Netherlands.
During the investigated period (2010-2016) Koos Timmermans was a
member of the Management Board Banking and for several years
end-responsible for ING Netherlands. In light of these
circumstances and in consultation with the Supervisory Board, Koos
Timmermans will step down.
"We deeply regret the shortcomings found and take this matter
very seriously," said Hans Wijers, chairman of the Supervisory
Board of ING. "Given the seriousness of the matter and the many
reactions among stakeholders since the announcement and in the
interest of the bank, we came to the conclusion it is appropriate
that responsibility is taken at Executive Board level. We have a
serious task ahead of us and the Executive Board is fully committed
to completing the various initiatives we have started at ING
Netherlands to further strengthen our handling of compliance
risks."
"We want to thank Koos for his many years of dedication to ING.
His efforts to align the bank's balance sheet with new and upcoming
regulation have strongly contributed to the robust financial
foundation ING has today. On behalf of all at ING, we wish him all
the best in his future endeavours."
Koos Timmermans joined ING in 1996 and was a member of the
executive team since 2007 when he was appointed as the company's
first chief risk officer on the Executive Board. In 2011 he became
vice-chairman of the Management Board Banking. In 2014 he assumed
responsibility for the Market Leaders division. He was appointed
chief financial officer in 2017.
The search process for a successor for Koos Timmermans has been
started. In order to facilitate an orderly transition, Koos
Timmermans has agreed to remain in his position until the
succession process, including approval by regulators and
shareholders, has been completed.
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 ing.yourmediakit.com or can be requested by
emailing info@yourmediakit.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 more than
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, evidenced by ING's ranking as a
leader in the banks industry group by Sustainalytics. ING Group
shares are included in the FTSE4Good index and in the Dow Jones
Sustainability Index (Europe and World), where ING is also 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. 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) operational risks, such as system
disruptions or failures, breaches of security, cyber attacks, human
error, changes in operational practices or inadequate controls
including in respect of third parties with which we do business,
(17) the inability to protect our intellectual property and
infringement claims by third parties, (18) the inability to
retain key personnel, (19) business, operational, regulatory,
reputation and other risks in connection with climate change,
(20) ING's ability to achieve its strategy, including
projected operational synergies and cost-saving programmes and
(21) 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 release.pdf
ING Groep NV (EU:INGA)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
ING Groep NV (EU:INGA)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024