ING Bank appoints Erik Versavel as chief representative for ING Bank Mongolia

Stocks and Financial Services Press Releases Wednesday August 31, 2016 17:06
The Asian Banker--31 Aug--Asian Banker

ING Bank announced the appointment of Erik Versavel as Chief Representative of ING Bank Mongolia with effect from 15 September 2016, subject to regulatory approval. In this role, Erik will be responsible for driving the overall strategy and development of ING's wholesale banking business in Mongolia. He will be based in Ulaanbaatar and will report to Aart Jan den Hartog, Country Manager and Head of Wholesale Banking Greater China and Mongolia.

Erik, a Belgian national, first moved to Asia from London in 1993. He headed the Bank Brussels Lambert office in Seoul, South Korea, and joined PT ING Bank Indonesia as Head of Structured Lending and Debt Restructuring in 1998. He became Branch Manager of ING Shanghai and Country Head China in 2000 and moved back to South Korea as ING Country Head in 2004. In 2009, Erik moved back to Europe, first to become Head of Asia Desk in Europe, and in 2011 as Chairman of the Management Board of PJSC ING Bank Ukraine. Throughout his career Erik has taken up several leadership roles in Chambers of Commerce, Foreign Banking Associations and civil society. Erik succeeds Howard Lambert who headed ING Bank Mongolia since 2010. Howard has been appointed Head of Corporate Clients, Middle East with effect from 1 August 2016 and is now based in Dubai.

"We are pleased to have Erik on board to continue driving our business in Mongolia. Erik has over 30 years of experience and possesses a strong international track record in Ukraine and Belgium, and previously in Asia. His extensive exposure and knowledge about fast emerging markets will be instrumental in continuing the achievements and bringing ING Bank Mongolia to the next level," Aart Jan den Hartog said.

"I would also like to take this opportunity to thank Howard for his work in pioneering ING Bank's footprint in Mongolia for the past six years. We wish him the very best in his new role in Dubai," Aart added.

Commenting on his new role, Erik said: "I am very excited to return to Asia – a fast growing region with a huge potential. Mongolia has seen itself transformed into an open market over the past two decades. ING was the first international bank to establish a representative office back in 2008 and has first-hand experience in providing local and international clients with access to a range of specialised lending products and bringing Mongolian issuers to the international debt capital markets. I look forward to the opportunities brought forth by Mongolia's long-term economic prospects and to continue supporting our clients to stay a step ahead." (Aug 31, 2016)--

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