Wim Scherpenhuijsen Rom, one of the founders of ING, passed away on Friday. The former CEO turned 87 years old.

The bank announced this on Friday evening.

Scherpenhuijsen Rom started in 1967 at NMB Bank, ING's predecessor. In 1992 he became CEO of ING Group.

The former CEO was one of the driving forces behind the merger between NMB Bank and Postbank in 1989.

NMB Postbank Group also joined forces with Nationale-Nederlanden under his leadership in the early 1990s.