ING plans to extend its private banking and wealth management services to countries outside the Netherlands, Belgium, and Luxembourg. Anneka Treon, often featured on Bloomberg Television as the “face” of Van Lanschot Kempen, will spearhead this international expansion.
In March, supervisory board chairman Karl Guha, former CEO of Dutch investment bank Van Lanschot Kempen, wrote in ING Group’s annual report about the bank’s ambition to diversify its revenue streams, specifically by developing a wealth management segment.
Treon’s appointment, effective from 1 September, will put this strategy into motion, an ING spokesperson confirmed. Details about the specific countries where ING intends to expand its private banking and wealth management services remain undisclosed. More information might be revealed at ING’s Capital Markets Day on 17 June.
For ING’s Dutch private bank, the changes are minimal. Katja Kok, who moved from Van Lanschot Kempen in 2022, will continue to report to CEO of ING Netherlands Peter Jacobs and now also to Treon. Treon will report to Pinar Abay, a member of ING’s group board responsible for international retail banking.
‘Unmet client demand’
In Luxembourg, ING appointed Michael Burch, a former BlackRock manager, in 2022 as country CEO. Burch recently announced that ING in the grand duchy has made a strategic decision to develop its private banking activities, citing “unmet client demand” in Luxembourg for personal banking and superior sector expertise. The change of course means ING is telling thousands of Luxembourg retail clients it will close their accounts.
Chess player
Treon has a 16-year tenure at Van Lanschot Kempen. Born and raised in London, she gained recognition as a talented chess player. She earned her bachelor’s degree from the London School of Economics and Political Science before moving to the Netherlands in 2008 at the age of 21. At Kempen & Co, she held various roles in investment banking and transitioned to Van Lanschot Kempen’s private bank in 2021.
As chief economist at Van Lanschot Kempen, Treon frequently appeared on Bloomberg news, including on The Pulse. In 2022, she was named one of 15 ambassadors for Bloomberg’s EU Women in Finance initiative, which aims to increase the representation of women in the financial sector.
Further reading on Investment Officer Luxembourg: