ING Asia-Pacific head may lead India operations
Bangalore: The general manager for Asia Pacific in the ING group Peter Smith currently based in Hong Kong, is likely to take over as overall head of all ING businesses — banking, insurance and mutual fund — in India. In what is being seen as a related development, V Raghunathan, president, ING Vysya Bank has announced his departure. The former IIM Ahmedabad professor said though he may have played a role in the management initiatives which had been taken from 2001 by the then Vysya Bank, the coming round of changes would require top management positions to be manned by banking professionals.

Smith is expected to play a coordinating role, dividing his time between India and Hong Kong, and the individual heads of businesses such as Bart Hellemans, managing director and CEO of ING Vysya Bank, will continue in their respective roles. The Indian businesses of ING are growing in importance to the Dutch group. The group, which emerged in the international league during the nineties through inorganic growth, is now standardising its international management practices.
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