ING appoints new chair

ING Australia has announced the appointment of John Laker AO as chair of its board, effective immediately.

Mr Laker replaces Michael Katz, who is retiring after over 10 years of service to the bank.  

The new chair first joined ING Australia in January 2019, where he has served as director of the bank’s board. 

Mr Laker holds over 45 years of experience in the financial services sector, which has included stints as chair of the Australian Prudential Regulation Authority (APRA) and assistant governor of the Reserve Bank of Australia (RBA).

The industry veteran has also held roles with the Commonwealth Treasury and the International Monetary Fund (IMF).

In addition to his new role at ING Australia, Mr Laker currently serves as chair of the board of the Banking and Finance Oath, deputy chancellor of the University of Technology Sydney, member of the experts panel of the IMF, and director of Cancer Council NSW and Cancer Council Australia.

Mr Laker was also a recipient of the Officer of the Order of Australia medal in 2008.

ING’s appointment is the latest of several senior leadership changes in the banking sector, the most notable of which was the resignation of former Westpac CEO Brian Hartzer and the early retirement of outgoing Westpac chairman Lindsay Maxsted in response to the opening of an AUSTRAC investigation into alleged breached of anti-money laundering laws. 

Earlier this month, MyState also announced that its CEO, Melos Sulicich, would step down from his role in July to move from Tasmania back to Sydney for personal reasons. 

Further, in December, Suncorp announced the appointment of Lee Hatton as the new chief executive of its banking and wealth division, replacing David Carter who resigned in October. 

[Related: Volt Bank welcomes international adviser]