January 21, 2017 11:17 PM ET

Banks

Company Overview of ING Bank (Australia) Limited

Company Overview

ING Bank (Australia) Limited provides banking and related services in Australia. It operates through four segments: Mortgages, Savings, Commercial Loans, and Superannuation. The company offers everyday bank accounts; savings products; and home loans, including variable and fixed rate home, and line of credit. It also provides business products comprising business term deposits, commercial mortgages, and commercial property finance. The company was incorporated in 1971 and is headquartered in Sydney, Australia. ING Bank (Australia) Limited operates as a subsidiary of ING Bank N.V.

140 Sussex Street

Level 14

Sydney, NSW 2000

Australia

Founded in 1971

984 Employees

Phone:

61 2 9028 4000

Fax:

61 2 9028 4708

Key Executives for ING Bank (Australia) Limited

Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Age: 50
Vice-Chairman of Management Board and Chief Executive Officer of Commercial Banking
Age: 64
Chief Executive Officer of ING Group, Chief Executive Officer of Banking Operations and Chief Executive Officer of Insurance Operations
Age: 73
Compensation as of Fiscal Year 2016.

ING Bank (Australia) Limited Key Developments

ING Direct Appoints Melanie Evans to Fill New Post of Head of Retail Banking

ING Direct has selected Melanie Evans to occupy the new position of Head of Retail Banking within the executive squad of the bank. In addition, the banking company has decided to augment its portfolio of retail banking products and services further. Evans will be assuming her new role at ING Direct from Westpac, where she was the Head of Marketing Sales and Services. She has served Westpac for more than 16 years in different capacities and played key parts in retail banking, broking, marketing and strategy, wealth and business transformation aspects. Evans had held a number of positions with BT Financial Group, and also at St George Bank.

ING Direct Announces CEO Changes

ING Direct announced on Jan. 22 that Uday Sareen was appointed as CEO, replacing Vaughn Richtor, who has decided to retire from the business in mid-2016. Sareen is currently president of the operating management committee at Kotak Mahindra Bank Ltd. He is expected to assume the CEO post at ING Direct in June. Richtor, who will also leave his position as ING Groep NV's CEO of retail banking for Asia, will continue to represent ING on the board of TMB Bank Thailand and act as an adviser to ING in the region.

ING Direct Australia Announces Earnings Results for the Full Year 2014

ING Direct Australia announced earnings results for the full year 2014. For the period, the company has increased net profit by more than 9% to $297 million.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 11, 2016
ING Bank (Australia) Limited, Remaining Unbranded Mortgages Portfolio
 

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