Latest news with #StevenvanRijswijk
Malaysian Reserve
01-07-2025
- Business
- Malaysian Reserve
ING to cut 230 jobs as it has ‘too many' managing directors
ING Groep NV announced a round of cuts focused on senior staff, saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday. The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. Shares in ING were 2.1% lower at 11:15 am in Amsterdam. The stock is up about 23% this year to date, compared with about 30% for the wider European banking sector. ING has guided for costs to rise to as much as €12.7 billion ($14.9 billion) this year. The metric grew by 5.5% in the first quarter on the previous year's period, with ING largely attributing the change to 'the impact of inflation on staff expenses.' European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday said the cuts were prompted by a combination of 'market circumstances' and the goal of 're-balancing' staff. The cuts will be split proportionally across its locations, it said. The company had 17,287 employees in the wholesale banking division at the end of the first quarter. Competitor ABN Amro Bank NV earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganization of its corporate banking unit in June. ING Chief Executive Officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' The bank is also exploring the possibility of acquiring a US banking license, a move that could bolster its access to dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. –BLOOMBERG
Business Times
30-06-2025
- Business
- Business Times
ING to cut 230 jobs as it has ‘too many' managing directors
[AMSTERDAM] ING Groep announced a round of cuts focused on senior staff saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday (Jun 30). The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. ING's shares were 1.2 per cent lower at 18.60 euros apiece at 10.17 am in Amsterdam. ING chief executive officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday explained the restructuring by a combination of 'market circumstances' and the goal of 'rebalancing' its staff for growth. The cuts would be split proportionally across its locations, it said. Competitor ABN Amro Bank earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganisation of its corporate banking unit in June. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' It is also exploring the possibility of acquiring a US banking licence, a move that could bolster its access to US dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. BLOOMBERG
Mint
30-06-2025
- Business
- Mint
ING to Cut 230 Jobs as It Has ‘Too Many' Managing Directors
(Bloomberg) -- ING Groep NV announced a round of cuts focused on senior staff saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday. The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. ING's shares were 1.2% lower at €18.60 apiece at 10:17 a.m. in Amsterdam. ING Chief Executive Officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday explained the restructuring by a combination of 'market circumstances' and the goal of 'rebalancing' its staff for growth. The cuts would be split proportionally across its locations, it said. Competitor ABN Amro Bank NV earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganization of its corporate banking unit in June. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' It is also exploring the possibility of acquiring a US banking license, a move that could bolster its access to dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. (Updates with shares and details from third paragraph) More stories like this are available on
Cision Canada
25-06-2025
- Business
- Cision Canada
NYSE Content advisory: NYSE teams up with Money20/20 at its annual event in Europe
NEW YORK, June 25, 2025 /CNW/ -- This is where money does business. The New York Stock Exchange (NYSE) recently traveled to Amsterdam in collaboration with Money20/20 to join, keynote, interview, and announce news at Money20/20's EU show. Experience the full interactive Multichannel News Release here: The show floor, nature stage, money beach club and moneypot podcasting stage all laid the groundwork for three action-packed days of building, networking, and partnering. For the largest independent gathering of financial technology leaders, it's a natural fit that the NYSE teamed up with Money20/20 for future growth. Over the course of the event that ran from Tuesday, June 3, to Thursday, June 5, the NYSE announced a brand-new live show in collaboration with Money20/20 called "Taking Stock." The CEO of ING, the Netherlands' largest lender and a NYSE-listed bank, Steven van Rijswijk shared his outlook with Kristen Scholer on the main stage. NYSE Vice Chair Michael Harris took part in a conversation with NYSE-listed Visa and private company Zilch, both of which made news. And companies from Deutsche Bank to Mastercard to Klarna all had announcements of their own! As part of the Money Morning Show, the NYSE, in collaboration with Money20/20, Fintech TV, and Cheddar surprised attendees with a teaser video of "Taking Stock." The half-hour fast-paced show launches mid-August and will give viewers around the world news they can use from the trading floor after the closing bell. When ING's CEO joined Scholer for a 1:1 following the show announcement, he outlined the bank's growth strategy. He called for more regulation and consolidation at the same time. According to van Rijswijk, the bank is actively looking at deals to expand into local markets across Europe. Still, he believes greater regulation for European banks will make it easier to navigate. According to him, ING is at the forefront of sustainability, requiring standards from clients to keep them as customers. That was a message well delivered on the nature stage! And if that wasn't enough(!), Harris had the chance to take part in a special announcement between Visa and Zilch. In a multi-year deal, Zilch said it's partnering with Visa to accelerate growth and launch a physical card. Scholer even got the chance to see and hold the new card during her interview with Zilch CEO Philip Belmont at the NYSE's pop-up interview studio on site. Zilch has big plans, and the NYSE will be watching! Finally, NYSE-listed behemoths Deutsche Bank and Mastercard debuted a strategic partnership on site to speed up the evolution of open banking. It enables customers to authorize payments directly from their bank accounts with real-time processing and immediate confirmation. And Klarna, in partnership with Visa, piloted a new debit card. Dubbed the "Klarna Card," it combines debit and pay-over-time features at more than 150 million Visa merchants worldwide. With more than 150 banks in attendance, it's clear to see it's the place where money does business.
Business Wire
10-06-2025
- Business
- Business Wire
Money20/20 Europe 2025 Closes With Record Impact: Stablecoins, AI and Open Banking Take Center Stage
AMSTERDAM--(BUSINESS WIRE)-- Money20/20, the world's leading fintech show, and the place where money does business, has wrapped its Europe show in Amsterdam after three jam-packed days of the boldest conversations and biggest shifts in the European financial landscape. With thousands of attendees from over 2200 companies and nearly 100 countries, Money20/20 Europe has proved one thing: Europe isn't playing catch-up – it's shaping what's next. The event stages showcased a lineup of 450 industry leading speakers from 40 countries, with women representing 45% of all speakers. Compelling keynotes from financial powerhouses included Steven van Rijswijk, CEO at ING; Evelien Witlox, Director of Digital Euro at ECB; and TS Anil, CEO at Monzo to name a few. Financial regulators gathered at the exclusive inaugural Money20/20 Policy Exchange for closed-door discussions aimed at accelerating innovation across three critical sectors: cryptocurrency regulation, Open Finance data access frameworks, and cross-border policy developed in partnership with the Bank for International Settlements (BIS) Several major announcements were launched live – including from Revolut, Klarna & Visa, Mastercard & Deutsche Bank, Enfuce & Shuttle, Kraken & Ivy, LSEG, NYSE and NomuPay. Money20/20 in partnership with FXC Intelligence also launched the report How Will Europe's Money Move in the Future? 2025's View of 2035. A forward-looking, data-driven analysis of how Europe's cross-border payments ecosystem is set to transform over the next decade. The show also unveiled eight startups set to disrupt the industry, with Sinpex taking home the award for Money20/20's Startup Pitch competition. The startups taking the briefing stage also included: Oscilar, AbbeyCross, Indicio, Carbon Equity, Esca, Nekod, and ChainComply. Key themes from the show included the accelerating momentum behind stablecoins and digital currencies, AI's fast-moving impact on fraud, identity, and personalised finance, and open banking's evolution into an open data economy. Industry leaders debated Europe's role in global fintech competitiveness, while regulation and sovereignty emerged as defining forces shaping the region's financial future. "This year's show was alive with optimism and intent to create the future of finance," said Suzy Pallett, Executive Vice President of Money20/20 Europe. "We saw regulators, banks, startups, and tech giants taking decisive action and making bold moves that will transform tomorrow's financial landscape. The energy was electric, and the connections made here will shape what comes next as we collectively create the future of Europe's financial ecosystem." 'Money20/20 continues to be a key milestone for us each year, making it the perfect stage to announce our new partnership with Deutsche Bank,' said Greg Ulrich, Chief AI Officer at Mastercard. 'This will bring open banking-powered account-to-account payments to merchants across Europe.' Money20/20, Cheddar, and NYSE launched 'Taking Stock' a game-changing new fintechTV show set to launch in mid August broadcasting live from the NYSE trading floor on 11 Wall Street and from major fintech events worldwide. 'The NYSE has long been a platform for partnership, where innovation begins and transformation takes shape,' said Joe Benarroch, Head of Content, Media Partnerships & Distribution, NYSE Group. 'The launch of Taking Stock, in collaboration with Money2020, Fintech TV, and Cheddar, is a testament to our commitment to bringing fresh perspectives to the market conversation. Together, we're opening new doors for storytelling and insight at the intersection of business, culture, technology, and finance.'
