BCG partner Peter Adams named CEO of ING Belgium

ING has appointed Boston Consulting Group senior partner Peter Adams as the new Chief Executive Officer of its Belgian division.

The Dutch bank was on the hunt for a new boss since the departure of former chief executive Erik Van Den Eynden, who vacated the top role on October 1. The bank’s chief financial officer Hans De Munck temporarily took the reins as interim CEO, but he is now returning to his previous position. 

The 44-year-old Peter Adams is currently managing director and senior partner at Boston Consulting Group (BCG). He is a lifelong BCG’er, having joined the global strategy consulting firm in 1999 after completing his studies in Belgium and the United Kingdom. He specialises in helping banking clients, and was according to ING involved in some of the biggest transformations in the European banking sector, especially in the Benelux, the UK, France and the Scandinavian countries.

From a functional perspective, Adams works with senior executives on all aspects of strategy, organisation and transformation. Throughout the last two decades he has built deep expertise in topics related to distribution strategies and (agile) operating model design for Western-European banks and insurers. He is the leader of BCG’s People & Organization Practice across Western Europe, South America and Africa.

In Belgium, ING is one of the four major players, alongside BNP Paribas Fortis, KBC and Belfius.

One of Adams’ first responsibilities will be to oversee a large restructuring programme at ING. Earlier this week, the bank announced it will close 62 of its 552 branches in Belgium next year. Meanwhile, the bank is already in the process of offloading staff, with up to 3,000 of the in total 9,000 jobs being cut. The resizing programme is planned for completion by the end of next year.

Commenting on the departure of Adams, Boston Consulting Group stated on LinkedIn: “Given his experience and expertise in banking and financial institutions we are convinced he will do a stellar job at the helm of ING Belgium. We thank Peter for his two decades of commitment and leadership.”