BNG Bank Nominates Huub Arendse for Supervisory Board

THE HAGUE, The Netherlands, January 28, 2019 /PRNewswire/ --

The Supervisory Board of BNG Bank has put forward Huub Arendse for membership of the Board as of 18 April 2019. The Supervisory Board has also reappointed Olivier Labe as a member of the Executive Board.

Huub Arendse (RA, 60 years of age) served as Chief Financial Officer and Executive Board member for the cooperative insurance group Achmea from 2013 to 2017, where he was responsible for Achmea Bank and Staal Bankiers, among others. Prior to that, he was employed by KPMG since 1982, where he was responsible for the Financial Services activities, among other things. The Supervisory Board is pleased to welcome Huub Arendse given his expertise and vast experience in the financial sector.

On 18 April 2019, Jan Nooitgedagt and Theo Bovens will step down from their positions as member of the Supervisory Board. These early resignations are at their own initiative, and connected to having recently accepted other ancillary functions. They have served the Board with their expertise and experience since 2012. The Supervisory Board thanks them for their significant contributions to the development of BNG Bank.

As the Supervisory Board aims to reduce the number of its members, the Board has decided to fill only one of the vacancies. With the appointment of Huub Arendse, the Supervisory Board will have reached its desired size of seven members.

Effective 1 May 2019, the Supervisory Board has also reappointed Olivier Labe as a member of the Executive Board. Olivier Labe has been with the bank since 2007 and has served as a member of its Executive Board since 2015.

Following the redistribution of portfolios in 2018, the roles within the Executive Board are now assigned as follows:

Gita Salden - Chief Executive Officer (CEO);

Olivier Labe - Chief Financial Officer (CFO);

John Reichardt - Chief Risk Officer (CRO).

BNG Bank is a committed partner for a more sustainable world. We enable the public sector to achieve social objectives. With a balance sheet of more than EUR 140 billion, we are the fourth-largest bank in the Netherlands and a relevant financier for local authorities and institutions for housing, healthcare, education, energy and infrastructure in the Netherlands. Rather than maximum profit, BNG Bank seeks to achieve a fair return on equity for its public shareholders.

    PRN NLD