SKN | ING Expands European Private Banking Footprint with New Services in Spain and Italy

Key Takeaways:

• ING has launched private banking services in Spain and Italy, targeting clients with financial assets of at least €500,000.
• The bank is combining digital investment tools with personal advisory support, offering independent investing, investment advice and discretionary portfolio management.
• The expansion strengthens ING’s European wealth management presence and forms part of its broader Get Europe Invested programme, with plans to introduce private-market access and additional advisory services.

ING is expanding its private banking operations into Spain and Italy, extending its wealth management presence across two additional European markets. The launch targets individuals with at least €500,000 in financial assets and combines digital investment capabilities with access to dedicated private bankers and investment specialists. The move represents a further step in ING’s strategy to expand its investment services while using its existing European infrastructure to reach a broader affluent client segment.

ING Extends Its Private Banking Network Across Europe

The launch in Spain and Italy builds on ING’s established private banking operations in the Netherlands, Belgium, Luxembourg and Poland. The expansion forms part of the bank’s Get Europe Invested programme, which aims to increase access to long-term investing across European markets.

ING already has more than 6,000 clients in the relevant segment in Spain. Its local private banking operation includes 35 private bankers and more than 50 specialists working across investment products, customer experience and technology. In Italy, approximately 40 private bankers are serving clients. These local teams provide the foundation for delivering personalized support while benefiting from the bank’s wider European capabilities.

A Hybrid Model Combines Digital Investing and Personal Advice

ING’s offering is structured around different levels of client involvement. Customers can manage investments independently through digital tools, receive personalized investment advice or delegate day-to-day portfolio decisions to the bank through discretionary portfolio management.

This approach gives clients flexibility in determining how closely they participate in investment decisions. It also allows ING to combine technology-driven investment services with direct relationships managed by private banking professionals. For affluent families and internationally connected entrepreneurs, the model reflects an increasingly important distinction between access to investment platforms and access to ongoing professional guidance.

Future Development Will Broaden ING’s Wealth Management Offering

ING plans to expand the proposition over time through advanced advisory services, access to private markets and additional wealth management solutions. These developments could broaden the range of investment services available to eligible clients, although the bank has not specified the precise launch timetable or detailed product structure for these planned additions.

The expansion builds on ING’s more than 30 years of private banking experience. Across its markets, the bank provides investment services to more than five million clients and reports over €300 billion in assets under management and brokerage. Global Head of Private Banking, Wealth Management and Investments Anneka Treon described the launch as an important step toward combining ING’s scale, technology and investment expertise with strong local teams.

What ING’s Expansion Means for European Wealth Management

ING’s entry into Spain and Italy highlights the strategic importance of combining digital infrastructure with local private banking relationships. Rather than relying exclusively on traditional relationship management, the bank is positioning a hybrid model that accommodates different client preferences and levels of investment delegation.

For internationally diversified wealth holders, the relevant considerations will include the quality of local advisory services, the scope of discretionary mandates, investment access and the practical implications of operating across jurisdictions. ING’s planned development of private-market access and advanced advisory capabilities will be important indicators of how far the proposition evolves. The success of the expansion will ultimately depend on whether the bank can translate its European scale into consistent, locally relevant private banking services.

For a confidential discussion regarding your cross-border banking structure and global wealth management arrangements, contact our senior advisory team.