NN Group appoints three supervisory board members
Dutch NN Group has nominated Hélène Vletter-van Dort, Dick Harryvan (pictured) and Robert Jenkins as new members of its supervisory board.
Vletter-van Dort is a professor of financial law, governance and securities law, as well as an advisor to the boards of various companies, including companies in the financial sector.
She currently holds several teaching and research positions, including as a professor at the Erasmus School of Law, the New York University and the University of Groningen.
She is also a member of the Dutch corporate governance code monitoring committee and chairperson of the board of Intertrust Investmentco B.V.
Former positions include member of the supervisory board of the Dutch Central Bank, member of the board of the Netherlands Association of Securities Holders (VEB) and judge at the Enterprise Chamber of the Amsterdam Court of Appeal.
Dick Harryvan currently holds several non-executive positions, including member of the advisory board of Gulf Bank and of OMFIF (an independent research group), member of the supervisory board of ANWB B.V. and of ING DiBa and partner at fintech fund Orange Growth Capital.
Harryvan is a former member of the executive board of ING Group and former chief executive officer of ING Direct.
Formerly, he held roles such as co-chairman of the International Academy of Retail Banking and non-executive director of Voya Financial Inc. He also has background in the international insurance sector.
Robert Jenkins has experience in asset management. He started his career in the Citigroup trading and sales organisation, where he held several positions in various countries. After Citigroup, he joined Credit Suisse and then F&C Asset Management.
Jenkins also held the position of CEO F&C Group. Most recently, he was an external member of the interim Financial Policy Committee (FPC) at the Bank of England.
Jenkins is currently adjunct professor of Finance and chairman of the AQR Asset Management Institute at London Business School.
These appointements, which have been approved by the Dutch Central Bank, have been made in anticipation of a further reduction of ING Group’s shareholding in NN Group, stated NN in a press release.
The firm said that these moves were in line with ING’s intention “to divest its remaining shareholding in NN Group over time.”
ING is entitled to have two members in the supervisory board of NN Group when ING’s shareholding in NN Group falls below 35%. ING’s entitlement to have members in the Supervisory Board of NN Group lapses when ING’s shareholding in NN Group drops below 15%.
As members of the supervisory board are appointed by NN Group’s shareholders, an extraordinary general meeting of shareholders (EGM) will be held on 6 October 2015.
The appointment of Hélène Vletter-van Dort to NN Group’s Supervisory Board will become effective as of the date of the EGM or as soon as ING Group’s shareholding in NN Group drops below 35%.
The appointments of Dick Harryvan and Robert Jenkins will become effective as of the date of the EGM or as soon as ING Group’s shareholding in NN Group drops below 15%.