ING has appointed chief risk officer and member of the executive board Koos Timmermans as vice chairman of the management board banking. In the new role, he will focus on aligning the strategy and operations of the bank with new and upcoming regulations and optimizing the bank’s balance sheet under these regulations.
Timmermans will succeed Eric Giroday, who will retire on Oct.1, 2011. Timmermans is expected to be replaced by Wilfred Nagel, CEO of ING Bank Turkey, who will be appointed chief risk officer and a member of the management board banking and management board insurance. Until Nagel’s appointment, ING’s CFO Patrick Flynn will assume responsibility for risk on an interim basis.
Click here for the release from ING.