ING Expands UK Transaction Services Team to Drive Growth

WHY THIS MATTERS: The expansion of a major global bank’s operational team in the United Kingdom is a direct reflection of two core trends: the surging need for sophisticated, cross-border Transaction Services and the increasing complexity of supporting Non-Bank Financial Institutions (NBFI). By poaching senior figures from domestic competitors with deep experience in payments strategy and treasury solutions, ING is signaling a clear competitive play. Today, large corporates and NBFIs require partners who can expertly bridge local UK requirements with vast international networks in areas like liquidity and working capital. This investment confirms that high-touch human expertise, coupled with an integrated global footprint, remains the critical differentiator for winning market share in complex corporate finance verticals. The move is a strategic deployment of resources designed to convert its globally recognized service quality into tangible local growth.

ING is strengthening its Transaction Services (TS) business in the UK as part of its strategy to position Transaction Services as a key driver of Wholesale Banking growth, built around their clients’ businesses.

The expansion enhances support for UK Corporate and Non‑Bank Financial Institution (NBFI) clients and their subsidiaries across ING’s global network. By adding further expertise in cash and liquidity management, trade finance and working capital solutions, ING aims to offer our UK clients a seamless local experience and global expertise.

As of today, ING’s UK Transaction Services team comprises eight specialists across sales, account management and correspondent banking. Selected new appointments include:

• Hayden Kaya has joined as a Director in the Transaction Services team. He brings more than a decade of experience across commercial, wholesale and retail banking. Hayden joins from Lloyds Banking Group, where he helped shape the Global Transaction Bank’s payments strategy and led sector‑focused sales teams advising some of the UK’s largest corporates. His appointment supports the continued growth of ING’s Payments and Cash Management franchise for global corporate clients.

• Ali Afzal joins as a Trade and Working Capital expert, bringing over ten years of product and sales origination experience from Mizuho Bank and Lloyds. His experience spans the full trade finance product suite across a global corporate client base, positioning him to deliver effective, client‑focused solutions.

• Vanessa Herbert has joined ING as a Director in the Transaction Services team, with responsibility for growing ING’s commercial Trade FX (TFX) offering. Vanessa brings more than 20 years of FX experience across banks and specialist FX payments businesses, strengthening ING’s ability to provide tailored TFX solutions to customers across Europe.

• Olive Yu, Director, has joined the UK Transaction Services business from ING’s Insurance Sector Finance team. With more than 17 years’ experience at ING, Olive is responsible for business development within the life and non‑life (re)insurance market, particularly in the US, Bermuda and Europe, where obligations can be supported by Transaction Services products such as bank guarantees and standby letters of credit. Prior to ING, Olive held roles at AM Best and a leading Lloyd’s market participant specialising in credit and market risk analysis for the (re)insurance industry.

• Ian Tofts, Vice President, also joins the UK Transaction Services business from ING’s Insurance Sector Finance team. He brings more than 25 years of banking experience across front‑office roles, client engagement, portfolio and transaction management, loan agency and banking operations.

Paul Turnbull, Head of Transaction Services Sales UK, said: “Expanding our UK Transaction Services team is about bringing expertise closer to our clients. This enables more meaningful conversations, better customer outcomes, and greater visibility of ING’s global capabilities at a local level.

“Transaction Services is a cornerstone of our growth strategy, and this expansion reinforces our ambition to be proactive and highly visible in the market.”

This investment brings expertise closer to clients, enabling deeper dialogue, improved outcomes and increased visibility for ING in the UK market. Transaction Services remains a core pillar of ING’s strategy, working across sectors and regions to deliver practical solutions that grow and adapt with our clients.

The UK team builds on ING’s strong global Transaction Services franchise, which was recognised with multiple awards in 2025, a selection of which included:

• #1 Cash Management in Europe (2025 Cash Management Survey, Euromoney)

• Europe’s Best Cash Management Bank (Euromoney)

• Best Trade Finance Bank in Western Europe 2025 (Global Finance)

• Best Bank for Trade and Supply Chain Finance – Europe 2025 (TMI)

FF NEWS TAKE: This targeted infusion of high-level talent—especially in Trade Finance and cross-border FX—moves the needle by increasing competitive pressure on incumbent British banks within the Wholesale Banking space. It is a calculated move to secure a greater share of the lucrative NBFI and corporate treasury flows. We should now watch the execution: specifically, how quickly the expanded team translates its specialized knowledge into market visibility and verifiable growth metrics across its UK franchise over the next 12 months.