ING has announced that Ljiljana Čortan, the Dutch banking group's chief risk officer since 2021, will succeed Andrew Bester as head of wholesale banking. The appointment is subject to the requisite regulatory approvals and will take effect no later than ING's annual general meeting in April 2026. The announcement, published on 23 October 2025, represents one of the most consequential leadership changes at the Amsterdam-headquartered lender in recent years, given the central role of the wholesale banking division in generating the group's revenues and sustaining its competitive position across corporate, institutional, and transaction banking markets.
Čortan has served as ING's chief risk officer since 2021, a tenure spanning a demanding period that has included the bank's management of post-pandemic credit normalisation, a sharp rise in interest rates across its principal operating markets, and heightened supervisory expectations around model risk governance, climate-related financial disclosures, and the implementation of Basel IV capital standards. Her elevation to lead the wholesale banking division marks a transition from a senior control function to one of the group's most prominent front-office leadership positions.
BESTER DEPARTS FOR NON-EXECUTIVE CAREER IN UK
Andrew Bester, who has been a member of ING's management board banking and a principal architect of the wholesale banking franchise in its current form, is returning to the United Kingdom to enter the non-executive phase of his professional career. His departure is structured as a managed transition rather than an abrupt exit: Bester will remain in position until Čortan's appointment is formally effective, ensuring continuity of leadership and client relationships through the handover period ahead of the April 2026 AGM deadline. ING's press release credited Bester with making a significant contribution to the wholesale banking business over his tenure and wished him well in his next professional chapter.
Wholesale banking is ING's primary revenue engine in its interactions with large multinational corporates, financial institutions, real estate clients, and mid-market companies across Europe and a range of international markets. The division encompasses lending, transaction services, trade and commodity finance, financial markets products, and capital markets activities. The head of wholesale banking position carries membership of ING's management board banking, one of the most senior governance positions in the group's executive structure.
CRO BACKGROUND SHAPES INCOMING LEADER'S PROFILE
Čortan's background as chief risk officer gives her a distinctive and comprehensive vantage point from which to lead the wholesale banking division. Having overseen risk management across ING's entire consolidated balance sheet — including the wholesale credit portfolio, market risk exposures, and operational risk framework — she arrives in the role with detailed, first-hand knowledge of the credit quality, industry concentration, and risk-return profile of the business she is taking over. That depth of understanding is likely to be a material asset as ING continues to calibrate its wholesale banking strategy in an environment where credit conditions, regulatory capital requirements, and the competitive dynamics of transaction banking continue to evolve.
ING confirmed that the appointment remains conditional on the necessary approvals from relevant supervisory authorities, consistent with standard practice for management board nominations at systemically important European banks operating under the oversight of the European Central Bank's supervisory arm. The formal shareholder vote on Čortan's appointment to the management board will take place at the April 2026 AGM, completing the transition from the current leadership structure.