In the highly competitive and rigorously regulated landscape of UK financial services, the pursuit of expansion must be meticulously balanced with an unwavering commitment to risk management, a dynamic that has prompted Dutch banking giant ING to make a pivotal leadership change within its British division. The firm has announced the appointment of Julieta Susara as its new Chief Risk Officer (CRO), a strategic move designed to reinforce its governance framework and support sustainable growth. This decision comes at a critical juncture as the bank aims to deepen its relationships with UK corporates and financial institutions. Susara’s arrival is not merely a personnel update but a clear signal of the bank’s intent to embed a more disciplined risk culture into the very fabric of its operations, ensuring that its ambitious growth targets are built on a foundation of stability and regulatory adherence. Her mandate will be to spearhead initiatives that bolster this culture, providing the robust oversight necessary to navigate an increasingly complex economic environment while fostering long-term client trust.
A Veteran’s Approach to Modern Risk Management
Julieta Susara brings to ING a formidable track record spanning over two decades in the financial services industry, equipping her with the deep expertise required to steer the bank’s UK risk operations. Her extensive career is highlighted by a long and impactful tenure at Nomura, where she was a foundational figure in establishing the risk management unit for its European arm. Most recently, she held the position of global head of financial institutions and funds, a role that gave her a comprehensive view of systemic risks across the international financial ecosystem. Before her time at Nomura, she honed her analytical skills as a credit analyst at Deutsche Bank and as an associate at Lehman Brothers, experiences that provided her with firsthand knowledge of credit cycles and market volatility. In her new capacity at ING, she will report hierarchically to UK country head Alexandra MacMahon and functionally to Rein Graat, the head of risk for wholesale banking. MacMahon emphasized that Susara’s appointment is vital for maintaining a “disciplined risk culture” as the bank continues to expand, a sentiment that underscores the strategic importance of her role in aligning risk appetite with business objectives.
Navigating Leadership Transitions and a New Trajectory
The strategic reinforcement of ING’s leadership extends beyond the risk department, indicating a broader organizational recalibration. Concurrent with Susara’s appointment, the bank also announced the departure of Beate Zwijnenberg, the chief information officer (CIO) for finance and risk. While a search for a permanent successor is underway, Peter Penning has been appointed as the interim CIO, ensuring continuity in a critical area that bridges technology, finance, and risk management. This dual leadership transition suggested a concerted effort by ING to fortify the core pillars of its UK operations. The appointment of a highly experienced CRO alongside the search for a new technology leader was seen as a deliberate strategy to enhance both governance and operational resilience. These moves were interpreted by industry observers not as isolated changes, but as interconnected components of a plan to prepare the institution for its next phase of growth, ensuring it had the right expertise in place to manage complex risks and leverage technological advancements in an evolving market.
