insurance group ING will probably nominate Ralph Hamers, currently head of its Belgian business, to succeed Jan Hommen as chief executive, a Dutch newspaper reported on Friday, without citing sources. As recently as last week when ING reported earnings, Hommen - who will turn 70 in April - declined to answer questions about whether he would renew his term or step down. A spokesman for ING on Friday reiterated that it was up to the supervisory board to decide. Hommen has overseen ING's split into separate banking and insurance operations and the sale of several overseas assets after the company was bailed out by the Dutch state in 2008. His term ends later this year unless it is renewed. Hamers, 46, is not on the ING executive board, and has led ING operations in the Netherlands and Romania, and its wholesale banking unit. He will have to shape the post-split ING, and set out a new growth strategy for the bank operations after the insurance divestments, Dutch newspaper Het Financieele Dagblad said. Hamers is expected to be proposed as the new CEO at ING's annual shareholder meeting on May 13, and will probably take the helm during the second half following a handover period, the paper said.
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