Marnix van Stiphout Named COO of ING: Explains Role Across The Financial Industry

ING has appointed Marnix van Stiphout as chief operations officer and chief transformation officer (COO/CTO), taking up his position on 1 September 2021.

Marnix van Stiphout, who will also become member of the Management Board Banking, is succeeding Roel Louwhoff, who stepped down from the Management Board Banking on 1 August 2021.

The industry veteran is an expert in operations and transformation programmes across Wholesale and Retail Banking, as well as setting up Know Your Customer (KYC) processes.

He joined ING in 1998 in Global Equity Markets Sales and Research in London. Ten years later he became global head of Value Chain Management for ING Financial Markets.

In 2014, the executive was named COO of ING Wholesale Banking, where he gained much of the required experience to rise to the top as COO of the bank. There, he was responsible for the day-to-day operations and global transformation, including technological innovation, a cross-border customer experience, and overall simplification of the firm. He has been leading the operations of Retail Banking since October 2020.

“Having been COO for both Wholesale Banking and Retail, I know the organisation well and, based on my experience, I’ve developed ideas that I’m eager to implement. It’s appealing to now have end responsibility for operations for the whole bank”, he said in an interview, adding that operations “has links to almost every part of the bank, so as COO you are a builder of bridges within the organisation. That’s what makes it so interesting”.

In regard to the entire financial industry, the upcoming ING chief operations officer said “banks have given up a lot of margin in recent years. It’s become much more competitive, with new non-financial players entering, so how you operate, how well you deliver things for clients and how productive you are, is what will make you succeed; control the business and win with clients”.

“Operations is not just about productivity. It’s about how well we do things. This requires having the right structures in place and the right talent to take the bank to its next level. Being able to do this in Wholesale Banking, and now in Retail, is one of the things I’m most proud of”, he continued.

“Attracting the right talent and building an operations engineering culture is an important part of becoming better at what we do. Operations management as one of the ‘big 6’ capabilities ING has identified for success, along with customer experience, data fluency and non-financial risk management. These are all related to operations and will help ING to ultimately deliver better processes and a better customer experience”.