Michael Burch (ING): From new strategy to execution: ING Luxembourg’s next phase
Michael Burch, CEO of ING in Luxembourg, on executing the new strategy for Wholesale and Private Banking.
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How is ING evolving in the Grand Duchy?
ING in Luxembourg has moved from refining its strategic direction to executing it. With longstanding expertise in Wholesale and Private Banking, Luxembourg plays a distinctive role within the Group. We combine close client relationships locally with the breadth of ING’s international capabilities. In 2025, that translated into focusing on our clients and directing resources towards the activities that create the most value for them, while reinforcing resilience and long-term relevance. In Wholesale Banking, ING Luxembourg strengthened its position as a core partner for international corporates, financial institutions and the investment fund industry in Luxembourg. Clients benefit from deeper sector expertise, crossborder capabilities and a comprehensive product offering combined with strong local presence. At the same time, Private Banking is repositioning towards longterm investing, strengthening advisory and personalised relationships to support clients in building, structuring and passing on assets across generations. This evolution has allowed us to combine local decisionmaking with the global reach of ING Group, delivering tailored solutions to an international client base appreciating Luxembourg's offering.
What is your strategy for the coming months?
Looking ahead, our priority is to deliver on our growth ambitions. In Wholesale Banking, this means deepening existing relationships, building new ones, and making even better use of ING’s international network and sector expertise to further enhance how we serve clients. In Private Banking, our focus is on wealth creators. We aim to grow both locally and internationally and remain a trusted partner as clients navigate changing market conditions and long-term investment decisions by combining local expertise with our groupwide capabilities. Across both business lines, strategy execution in the coming months is driven by the same objective: creating sustainable value for clients while reinforcing ING Luxembourg’s role within the European and global financial ecosystem.
“Luxembourg enables us to compete on expertise and complexity.”
What opportunities and risks do you see for Luxembourg in general and ING in particular?
Luxembourg continues to demonstrate strong resilience in a challenging macro‑economic and geopolitical environment. Its strength lies in a highly specialised financial ecosystem spanning investment funds, banking, capital markets, insurance and sustainable finance, where financial institutions compete on expertise and complexity, not volume. For ING, this environment creates clear opportunities: Luxembourg’s stability and international orientation make it a natural hub for complex cross‑border activities, particularly in Wholesale Banking and Private Banking. By working closely with service providers and other financial institutions, banks like ING can offer integrated solutions aligned with clients’ global needs. At the same time, risks remain. Competitive pressure, regulatory intensity and talent constraints linked, among others, to the cost of living and cross‑border workforce dynamics require continued attention. Addressing these challenges calls for sustained investment in people, technology and long‑term partnerships.