German subsidiary of ING appoints new boss

The German subsidiary of Dutch banking giant ING said on Friday it is hiring a new head from Deutsche Bank.

Lars Stoy, previously the manager of Deutsche Bank's private customer business, is to lead ING Deutschland from the beginning of 2025. He succeeds current boss Nick Jue, who is returning to the Netherlands after more than seven years at the helm.

For Stoy, the move to run ING Deutschland, part of Dutch financial group ING, is a step up the career ladder.

Stoy worked for the Deutsche Bank Group for 16 years, shaping the private client business of Deutsche Bank and Postbank in Germany for many years, according to Claudio de Sanctis, Chief Private Client Officer of Deutsche Bank.

ING Germany is also losing its Head of Private Clients Daniel Llano, the company announced. He is moving to major US bank JP Morgan, where he is to drive forward the market launch in the German private customer business, according to Handelsblatt business newspaper.