ING Direct appoints Melanie Evans as head of retail banking

Stocks and Financial Services Press Releases Monday January 16, 2017 16:57
The Asian Banker--16 Jan--Asian Banker

After six months in the top job, ING Direct chief executive Uday Sareen has made his first hire, bringing in Westpac veteran Melanie Evans, who will lead the lender's charge to take a bigger share of the retail banking market.

Ms Evans who joins after spending 16 years at Westpac and its funds management arm BT, will take on the newly-created position of head of retail banking.

The one time chief of staff to now Westpac CEO Brian Hartzer, Ms Evans has worked across retail banking, wealth, broking, mortgages, business transformation, marketing and strategy and was seen as "one to keep" during her time at Westpac.

Jumping ship to ING Direct, Ms Evans will now manage all of the online lender's consumer business and channels including deposits, mortgages, wealth management and consumer and business lending.

"I am delighted to have Melanie join our team. She's been a high achiever in Australian financial services and will be an asset to ING as we grow our business and scale digital capability across products and services," Mr Sareen said.

Since joining the Dutch-owned online lender's Australian arm as CEO in June 2016, Mr Sareen has indicated that he intends to grow the retail section of the bank beyond mortgages and home loans.
"We're really positioned to scale up our primary bank offering," he said last year.
Mr Sareen also plans to double the number of customers who see ING Direct as their main bank by offering more products, such as credit cards and home insurance.

Former CEO Vaughn Richtor retired last year after spending 24 years with the bank. He held the top job from the start of the business in Australia in 1998 until 2006 and again from 2012 until 2016. In between, Mr Richtor spent six years working at an ING subsidiary in India called ING Vysya, which is now called Kotak Mahindra Bank. Mr Sareen was a former deputy chief executive of ING Vysya

ING Direct, owned by Dutch bank ING Group, arrived in Australia around 18 years ago with the launch of a high-interest, fee-free online savings account. With more than 1.6 million customers the bank has a portfolio of $42 billion in retail mortgages and $36 billion in retail savings and has a market share of about 2.5 to 3 per cent (Jan 16, 2017)--.

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