Swiss bank UBS Group is set to name ING Groep Chief Executive Officer Ralph Hame...
) Chief Executive Officer Ralph Hamers as its new head, the Financial Times reported on Wednesday, citing people familiar with the decision.
Hamers will succeed Sergio Ermotti, who has been with the company for close to a decade, the FT reported. Weber had approached Hamers months ago after it was decided that Ermotti’s tenure as the CEO would not be extended, the FT reported. Investing heavily in digital, ING now has one of the lowest cost-revenue ratios in Europe, relying far more on its online offering and less on branch network than most of its rivals.
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