Rabobank Replaces Bruggink With ING Hires, Splitting Role

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Rabobank appointed two executives to succeed Bert Bruggink, splitting the role of chief financial officer and chief risk officer as the Dutch company wrestles with regulatory inquiries.

Carin Gorter, 52, will oversee risk, while 43-year-old Bas Brouwers will become CFO, Utrecht-based Rabobank said in a statement Friday. Both are stepping down from ING Groep NV and will observe a “cooling down” period before they start, ING said in a separate statement.

”This is an acknowledgment of the incredible importance of risk management,” said Harald Benink, a banking and finance professor at Tilburg University in the Netherlands. “It’s a positive development, considering all that has happened in past years.”

Rabobank spokesman Hendrik Jan Eijpe declined to comment on what Bruggink will do next.

Rabobank Chairman Wiebe Draijer is seeking to repair Rabobank’s reputation after the century-old cooperative bank admitted wrongdoing in a 2013 settlement over interest-rate manipulation. The company’s U.S. unit is under fresh scrutiny by the Justice Department, which is reviewing money-laundering controls. Rabobank has said it’s cooperating with requests.