ING – “ING is not a very good place to work - very bureaucratic and political”

Pros

Large international company with businesses in 85 countries. Very well positioned direct bank. Used to have snappy advertising and brand campaign that was well respected by clientrs.

Cons

Poorly run, overly political organization in the US. Financially they are capital constrained and needed a bailout from the Dutch government. More layoffs are probably in their future.

Advice to Senior Management

Shore up capital structure by divesting of non core businesses and focus to win in core segments. Shift the culture to a meritocracy from one dependent on internal politics.