16 Feb 2017 - 07:05 CET

NN Group appoints Satish Bapat as CEO NN Investment Partners and Member of the Management Board NN Group

NN Group today announced that effective 1 April 2017, Satish Bapat (Dutch, 1966) will be appointed as CEO of NN Investment Partners (NN IP) and as a member of the Management Board of NN Group. Satish succeeds Stan Beckers, who joined NN Group as CEO of NN Investment Partners on 1 July 2013. After 38 years in the financial services industry, Stan is retiring on 1 April 2017. He will stay on as a special advisor to the NN Group Management Board to help ensure a smooth transition.

Satish Bapat has been CEO of NN Life Japan since 2013. From 2011 to 2013, he held the position of CEO Asia Pacific and Global CFO for NN Investment Partners. He has over 20 years’ experience in the financial services industry, both in and outside of the Netherlands.

Lard Friese, CEO of NN Group said: ‘It is with pleasure that we announce the appointment of Satish Bapat as our new Management Board member. Satish brings extensive international experience to the role, has excellent financial, communicative and leadership skills and is driven to achieve the best performance for our clients and employees. I am proud we found a strong successor for Stan within our senior management team.

I would like to thank Stan, who as a member of our Management Board was part of NN Group’s IPO in 2014 – an important milestone in the history of our company. We appreciate his dedicated service to NN and its customers. During his tenure, Stan successfully positioned NN Investment Partners as a strong member of NN Group, with a distinct business proposition for our institutional and retail clients. We wish him all the best for the years to come.’

Satish Bapat said: ‘It is a privilege to lead the asset management business of NN Group. I look forward to bringing my asset management and insurance experience to continue helping our customers secure their financial futures, working with our stakeholders and contributing to the societies we operate in.’

  • NN Group profile

    NN Group is an international insurance and asset management company, active in more than 18 countries, with a strong presence in a number of European countries and Japan. With around 11,500 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is listed on Euronext Amsterdam (NN).
  • Important legal information

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations, (13) changes in the policies of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group’s ability to achieve projected operational synergies and (18) the other risks and uncertainties contained in recent public disclosures made by NN Group.

    Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to buy any securities.

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