March 12, 2018 / 3:02 PM / a year ago

Dutch government wants to block 50 percent pay increase for ING's CEO

FILE PHOTO - Ralph Hamers, CEO and Chairman of the Executive Board of ING, attends the 2016 Institute of International Finance (IIF) Spring Membership meeting in Madrid, Spain, May 24, 2016. REUTERS/Susana Vera

AMSTERDAM (Reuters) - The Dutch government is exploring ways to block a proposed 50 percent pay increase for the chief executive at ING Group, Finance Minister Wopke Hoekstra said on Monday.

The government “really wants ING to reconsider this proposal”, Hoekstra said.

The salary increase for ING’s Ralph Hamers has become a major theme ahead of municipal elections in the Netherlands on March 21.

Reporting by Bart Meijer; Editing by Alison Williams

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