ING Groep has appointed Andrea Cesaroni as Chief Risk Officer and a member of the Management Board Banking, with effect from Monday. Cesaroni will join the group's Executive Board following the extraordinary general meeting scheduled for 31 July 2026, ING said.

Cesaroni had been acting head of Risk since 24 February 2026, giving him more than three months at the helm of the function before his formal confirmation. He succeeds Ljiljana Čortan, who has moved to lead ING's Wholesale Banking business. The internal reshuffle keeps continuity at the top of the risk function while filling one of the group's most senior line roles.

INTERNAL PROMOTION

Cesaroni joined ING in 2022 as head of Integrated Risk, a role that placed him at the centre of the group's efforts to knit together credit, market, operational and non-financial risk functions across ING's international footprint. The promotion continues a pattern at ING of drawing senior board appointments from candidates already familiar with the bank's operating model and risk culture, rather than reaching outside the group.

The CRO role at a systemically important European lender carries wide-ranging responsibilities under the European Central Bank's Single Supervisory Mechanism, from setting the group risk appetite framework to overseeing the annual stress-testing cycle and providing independent challenge to business-line strategy. It is also a critical interface with the Supervisory Board's risk committee and with the joint supervisory teams at the ECB and De Nederlandsche Bank that oversee ING's activities on a consolidated basis.

BOARD APPOINTMENT AT EGM

The Executive Board appointment is subject to the customary shareholder approval at the 31 July EGM. Under Dutch corporate governance rules, executive directors of listed companies are appointed by the general meeting following a binding nomination by the Supervisory Board. The scheduling of an EGM specifically to confirm the appointment reflects the calendar between routine annual general meetings at large European banks.

Between 8 June and the EGM, Cesaroni will exercise the responsibilities of CRO as a member of the Management Board Banking, the internal statutory body that runs ING Bank. The two-tier structure separating the wider Executive Board of ING Groep from the Management Board Banking is a feature of the group's governance under Dutch law, and allows day-to-day banking operations to be managed by a dedicated statutory body.

Čortan's move to Wholesale Banking is part of the broader senior leadership realignment at ING under Chief Executive Steven van Rijswijk. Details of the appointment, including biographical background, were filed with the US Securities and Exchange Commission on Form 6-K and published on ING's corporate communications channels. The bank said further disclosures relating to the EGM would follow in the customary notice period. The appointment also comes at a moment of continued focus by European supervisors on the calibre and continuity of risk leadership at systemically important banks, following a series of governance reviews that have emphasised the importance of a strong, independent risk function reporting directly to the executive body. ING is one of the largest banks headquartered in the euro area, with retail and wholesale banking operations spanning the Benelux countries, Germany, Poland and a range of other European and international markets.