Alfonso Tolcheff appointed as CEO of ING in Spain & Portugal

With extensive experience in the Spanish banking sector, Alfonso joined ING in 2004 as an acquisition finance analyst. Over the years, he played a crucial role in the Capital Markets & Advisory division, leading major transactions. In 2022, he was appointed head of Corporate and Investment Banking (Wholesale Banking) and joined the Executive Committee for Spain and Portugal. Under his leadership, ING’s Wholesale Banking business in the region doubled its revenues and fees, driven by a strategy that focused on sectoral specialization, a strong global network, and sustainable financing, which now accounts for more than half of the portfolio.

Alfonso will succeed Almudena Román, who served as interim CEO and will return to her role as director of New Business Development, Innovation, ESG and Brand. Almudena, a key figure at ING since 1999, has been instrumental in shaping the bank’s customer-centric, transparent, and innovative model, making ING a benchmark in the Spanish banking industry.

“Spain is a key market for ING, and Alfonso’s appointment reflects our ambition to further accelerate our growth in the country. His eye for talent, leadership and strong track record in delivering commercial growth make him the ideal choice to drive our strategy in Spain & Portugal forward. With his capabilities, I am confident that ING will continue to expand its presence while offering an outstanding banking experience to our millions of customers in Spain and Portugal. At the same time, I want to thank Almudena for her strong leadership and dedication during this transition.”

- Pinar Abay, head of Retail Banking at ING Group

“ING has always been known for doing things differently while staying true to our commitment to customers. I am grateful for the trust placed in me. My focus as CEO will be to drive accelerated growth in Spain and Portugal by strengthening both our retail and wholesale banking businesses with the amazing talents we have in the organization. I am also deeply committed to fostering a culture where talent thrives, ensuring that ING continues to be a place where people grow and contribute to our long-term success. I am excited about the future and the positive impact we will have on our customers, colleagues and broader society".

- Alfonso Tolcheff