ING's Executive Board Shake-up: A New Era for Wholesale Banking
In a significant move, ING has announced an upcoming change in leadership for its Wholesale Banking division. Ljiljana Čortan, the current Chief Risk Officer (CRO) and a seasoned banking professional, will take the helm, succeeding Andrew Bester. This transition, set to occur no later than the Annual General Meeting in April 2026, marks a pivotal moment for ING's banking operations.
Ljiljana's extensive international banking experience, spanning over 25 years, has equipped her with a unique skill set. Her roles in risk management, corporate banking, strategy, and business development provide a solid foundation for her new position. Prior to joining ING in 2021, she held influential positions at UniCredit and HypoVereinsbank, solidifying her expertise in the industry.
Steven van Rijswijk, ING's CEO, expressed his confidence in Ljiljana's abilities, highlighting her strong track record and leadership skills. He believes she is well-positioned to guide the Wholesale Banking business towards further growth and diversification. Ljiljana's deep understanding of the business and her connections within the organization are seen as key assets in her new role.
But here's where it gets controversial... Ljiljana's appointment as head of Wholesale Banking is subject to regulatory approval. While ING has initiated the search for a successor to her current role as CRO, the process is ongoing, leaving some uncertainty about the future of these critical positions.
And this is the part most people miss... ING's commitment to sustainability is a key aspect of its operations. The company aims to lead the way in responsible banking, as evidenced by its ESG rating of 'AA' by MSCI and its inclusion in major sustainability index products. However, with the transition to a low-carbon economy, ING acknowledges that there's still work to be done to align its financing practices with sustainable goals.
As for the outgoing leader, Andrew Bester, his time at ING has been marked by significant contributions. With over 30 years of experience in banking and professional services, Andrew has played a pivotal role in shaping the bank's trajectory. His focus on client value and an inclusive culture has been highly valued, positioning the wholesale bank for future growth.
In his own words, Andrew expresses gratitude for the opportunity to serve at ING and is now ready to transition to the non-executive phase of his career. He leaves behind a strong foundation for Ljiljana to build upon, ensuring a smooth handover process.
The announcement has sparked discussions within the industry, with many curious about the implications of this leadership change. Will Ljiljana's appointment bring about the necessary changes to propel ING's Wholesale Banking division to new heights? And how will the search for a new CRO impact the bank's risk management strategies?
What are your thoughts on this executive board shake-up? Do you think Ljiljana's appointment will drive ING's Wholesale Banking division forward? Share your insights and let's spark a conversation about the future of banking leadership!
