ING Group announced on 12 August 2025 that Ida Lerner would join the Dutch banking and financial services group as Chief Financial Officer, effective 1 April 2026. The announcement, published on ING's press releases page, confirms Lerner as the successor to Tanate Phutrakul, who will step down from the CFO position at ING's Annual General Meeting in April 2026. Lerner most recently served as CFO at DNB Bank, the Norwegian financial group, a role she has held since 2021, and her appointment at ING was announced concurrently with DNB's disclosure of her departure.

The appointment brings to ING an executive with direct experience leading the finance function of a major Nordic bank through a period of significant monetary policy transition. During her tenure at DNB, Lerner oversaw the group's financial reporting and capital strategy as interest rates in the Nordic region moved from historically low levels to a substantially higher regime in the subsequent tightening cycle. That experience managing a large, publicly listed bank's balance sheet through an abrupt and material shift in the rate environment is considered directly relevant to the challenges ING's CFO will face as European monetary policy continues to evolve.

SUCCESSION TIMELINE AND AGM ANCHOR

Tanate Phutrakul, who will step down at ING's AGM in April 2026, has served as the group's CFO through a period that included significant transformations in the European banking landscape, including material changes to capital requirements, shifts in profitability driven by the rate cycle, and ongoing structural adjustments in ING's international franchise. The AGM anchor for the succession provides a clear and publicly understood handover mechanism, giving both Phutrakul adequate time to complete outstanding responsibilities and Lerner a structured framework within which to prepare for her new role. The near eight-month lead time between announcement and effective date is consistent with best practice for senior transitions at systemically important European banks.

ING is one of the largest banking groups in Europe by total assets, operating retail, wholesale, and direct banking franchises across more than forty countries. The CFO at a group of that scale carries oversight of financial reporting under IFRS standards and the requirements of the European Central Bank's supervisory framework, capital planning under the EU's Capital Requirements Regulation, and investor relations for a broadly held public company with listed equity and debt securities in multiple markets. The role requires both technical depth and the ability to communicate credibly with a diverse set of institutional stakeholders.

LERNER JOINS AS ING NAVIGATES EUROPEAN ENVIRONMENT

The announcement comes at a time when European banks are navigating a shifting interest rate environment, with the European Central Bank having begun to ease monetary policy from the elevated levels reached in 2023 and 2024. Net interest income, which expanded markedly as rates rose, is likely to face increasing pressure as the cutting cycle progresses, making the financial strategy and capital allocation expertise that the CFO provides particularly important for management and investors seeking clarity on the earnings trajectory over the medium term.

For ING's shareholders, the appointment of a credentialled banking CFO with recent and relevant experience at a comparable Nordic institution offers assurance that the transition from Phutrakul will not create a meaningful gap in the quality of the group's financial leadership. Lerner's background at DNB, a well-regarded group with strong capital metrics and a track record of disciplined financial management, provides an implicit endorsement of the profile ING sought for the role that becomes vacant at the 2026 AGM.