ING boss says proposed pay rise was major error of judgement

DutchNews, December 12, 2018

Photo: ING.com

ING chief executive Ralph Hamers told MPs on Wednesday that his proposed pay rise earlier this year was a major error of judgement. 

Hamers was the ‘star turn’ at a parliamentary finance committee hearing set up to look at the financial sector 10 years after the start of the financial crisis. 

The pay rise and the money laundering scandal should ‘never have happened,’ Hamers said in his opening address. And he said he understood that there is a negative view of the bank. ‘Advances have been made in the past 10 years and there have been setbacks. It is a slow process,’ he told MPs. 

In March ING’s supervisory board withdrew the proposed 50% pay rise for Hamers, saying it had ‘underestimated the public response in the Netherlands on this clearly sensitive matter’.

Hundreds of customers are thought to have closed their accounts in protest at the pay rise and the proposal to increase Hamer’s pay to €3m was condemned as ‘arrogant’ and ‘out of touch’ by politicians across the political spectrum. 

Money laundering

ING took a second hit in September when the public prosecution department said it had reached a €775m out of court settlement with ING for failing to properly monitor money transfers for potential money laundering. 

The department said between 2010 and 2016, the bank’s clients were effectively able to launder hundreds of millions of euros because ING was not doing its job properly. Banks are required by law to report suspicious transactions. 

‘How can you rebuild trust in the financial sector if you know that you are committing fraud and accepting a million euro pay rise?’ said Labour MP Henk Nijboer.

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"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once),Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

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You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

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