ING is a management catastrophe.
Responsible is the Board of Directors for not taking action.
They should have fired JH and his team at least 3 years ago.
And this cost the shareholders many Euro Billions/year.
most US banks/insurers perform at cca. 1% of ROA, while ING performs at 0.3% ROA.
By this basic metrics ING should have net earnings over 10.0B Euros/year,
the actual performance is cca. 3.0B Euros/year.
And I hope he can replace the current management,
call in proven and ambitious bank managers to help him to make ING to work and prosper again.
I still dont know what ING board were thinking, 4 years ago,
naming a 65 year old nice guy to CEO post. He proved to be a terrible choice, a simple loss of time for ING.
He clearly had no ambition, no competence to lead ING out of the mess of 2008 crisis.
Anyways, I think all shareholders are happy.
for this new CEO at least shall have ambition,
I hope he has courage to take the steps necessaary to help ING to recover.