Today, the Extraordinary General Meeting of NN Group N.V. has appointed Hélène Vletter-van Dort, Dick Harryvan and Robert Jenkins as new members of NN Group’s Supervisory Board.
The appointment of Hélène Vletter-van Dort to NN Group’s Supervisory Board is effective as of today as ING Group's shareholding in NN Group has dropped below 35% following ING's recent sell-down, which was settled on 5 October 2015. As a consequence, ING nominee Ralph Hamers steps down from the Supervisory Board of NN Group, effective today.
Jan Holsboer, Chairman of the Supervisory Board of NN Group: "I would like to thank Ralph Hamers for his valuable contribution as a member of the Supervisory Board during the transition phase of NN Group becoming a stand-alone company".
The appointments of Dick Harryvan and Robert Jenkins have been made in anticipation of a further reduction of ING Group’s shareholding in NN Group. These two appointments will become effective when ING Group's shareholding in NN Group drops below 15%.
ING has previously announced that it intends to divest its remaining shareholding in NN Group over time in line with its strategy to divest all of its insurance and investment management businesses as part of the restructuring agreement with the European Commission, ultimately by the end of 2016. ING Group’s current stake in NN Group is 25.8% of outstanding shares (net of treasury shares).
The appointments of Hélène Vletter-van Dort, Dick Harryvan and Robert Jenkins as members of NN Group’s Supervisory Board have been approved by the Dutch Central Bank (DNB). The appointment of Hélène Vletter-van Dort has been recommended by the works council of NN Group.
Hélène Vletter-van Dort will be a member of the Audit Committee and Nomination and Corporate Governance Committee of the Supervisory Board.
Hélène Vletter-van Dort
Hélène Vletter-van Dort (50, Dutch) 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 (62, Dutch) 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. Dick Harryvan is a former member of the executive board of ING Group and former chief executive officer of ING Direct. Other former positions include co-chairman of the International Academy of Retail Banking and non-executive director of Voya Financial Inc. Dick Harryvan has an extensive background in the international insurance sector with several functions held at Nationale-Nederlanden, The Halifax Insurance Companies and Peerless Insurance Co.
Robert Jenkins (64, US citizen) has an extensive background 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. He 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. Robert Jenkins is currently adjunct professor of Finance and chairman of the AQR Asset Management Institute at London Business School and he regularly contributes to the Financial Times.