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ING appoints new managing director

05 October 2005

ING appoints new managing director

ING New Zealand has confirmed the appointment of Marc Lieberman as Managing Director to replace Paul Fyfe who retires next year.

Mr Lieberman’s appointment follows an extensive internal global search to find a successor for Mr Fyfe, who has been head of ING in New Zealand for 10 years.
Currently Head of Strategic Distribution with ING Life in Minneapolis, USA, Mr Lieberman has been with ING Group since April 2000 in a number of senior financial services roles. He has 20 years’ industry experience covering the full scope of operational and sales functions across insurance, managed funds and investment markets.

“Marc joins ING at a time of huge change and growth for the company,” says Mr Fyfe.

“His experience is well suited to the breadth of ING’s business in New Zealand today and I have no doubt he will prove a great asset in further strengthening the company’s presence in this marketplace.

“His appointment gives me great confidence that the excellent work achieved by the company to date will continue in the future.”

Mr Lieberman is due to arrive in New Zealand, with his family, early in the New Year.

ING New Zealand recently announced it had reached agreement with ANZ National Bank to extend the existing joint venture between the ANZ and ING Groups by incorporating the managed funds and life insurance business of The National Bank. The addition of this business has consolidated ING’s position as the largest retail fund manager in New Zealand, and one of the leading insurance operators.

Mr Fyfe will leave the company at the end of February 2006, after a career spanning four decades in the financial services sector. He joined ING in 1989 when the company was first established in New Zealand as Armstrong Jones. He was appointed managing director in 1995 and has since been an integral part of the company’s significant growth and transformation from a leading fund manager to the full financial services provider it is today.

ENDS

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