Group announced yesterday that John Hele, its chief financial officer, will
leave the company effective from 31 March, 2009, for ‘family reasons’ and to
pursue a career outside ING.
The announcement came the same week as credit-market losses drove shares of
the ING Group, the Netherlands’ biggest financial-services company, to a 13-year
low, prompting the Dutch government to give it a lifeline by buying non-voting
preferred shares for €10bn (?8bn).
While the Government appoints two representatives to the ING board, Hele will
remain a board member and CFO until the end of March 2009 when he has completed
the annual accounts and filings for the 2007-08 financial year.
Starting 1 April, 2009, Hele will join Arch Capital Group Ltd as executive
vice-president and CFO. Arch Capital Group writes property and casualty
insurance and reinsurance on a worldwide basis and is listed on the Nasdaq in
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