Tanate Phutrakul to succeed Koos Timmermans as chief financial officer of ING
05 December 2018 - 8:22AM
ING announced today that Tanate Phutrakul will succeed Koos
Timmermans as CFO of ING. As announced on 11 September 2018, in
consultation with the Supervisory Board, 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.
In order to ensure an orderly transition Tanate Phutrakul will
succeed Koos Timmermans, being appointed as CFO and member of the
Management Board Banking on 7 February 2019, after the
presentation of the 2018 fourth quarter and full year results,
which is scheduled for 6 February 2019. The Supervisory Board will
nominate Tanate Phutrakul for appointment as a member of the
Executive Board of ING Group at the Annual General Meeting in April
2019. The appointments have been approved by the European Central
Bank.
Tanate Phutrakul (Thai, 1965) is currently ING Group Controller.
He first joined ING in 1998 as managing director of ING Barings
Securities Thailand. From 2003 until 2008 he served as head of
Wholesale Banking and chief financial officer of TMB Bank in
Thailand. In 2008 he rejoined ING to become CFO of the Operations
and IT unit and later of Retail Banking International. In 2015 he
took up the position of CFO of ING in Belgium, a role he held until
1 October of 2018.
Tanate Phutrakul holds a master's degree in Chemical Engineering
from Imperial College, University of London and an MBA from Harvard
Business School.
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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).
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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
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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,
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(5) changes affecting interest rate levels, (6) changes
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authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
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purchase accounting assumptions and methodologies, and other
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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
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- Tanate Phutrakul to succeed Koos Timmermans.pdf
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