New CEO for ING Direct

Uday Sareen, currently president of the Operating Management Committee at Kotak Mahindra Bank India, will succeed Vaughan Richtor as Australian CEO of ING Direct.

Sareen joined ING Vysya Bank in 2007 from Citibank India, where he headed up the Branch Banking business. In November 2012 he moved to Germany as ING-DiBa's chief strategy officer, returning to ING Vysya in April 2014 as deputy CEO, responsible for Strategy and Wholesale Banking.

Following the merger of ING Vysya Bank with Kotak Mahindra Bank in April 2015, Sareen has been responsible for the integration of ING Vysya's retail banking businesses.

He is expected to start the ING DIRECT Australia CEO role in June 2016.