New ING Direct chief takes over

ING Direct Australia's new chief executive has officially commenced their role following the departure of long-serving CEO Vaughn Richtor.

Uday Sareen, who is the former deputy chief executive of ING Vysya Bank in India, took over in the top job on 1 June, in line with an announcement by the bank in January 2016.

Mr Sareen began his banking career with Citigroup in 1994 before joining ING Group in 2007 as country head of retail banking at ING Vysya Bank in India.

“Over the next five years, Uday steered the retail bank turnaround, drove national expansion with the creation of 120 branches, and formulated and executed the brand strategy,” ING Direct said in a statement.

In December 2012, Mr Sareen was appointed chief strategy officer at ING-DiBa in Germany, before returning to ING Vysya Bank as head of wholesale banking in Mumbai in 2014.

[Related: BOQ director resigns]

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