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ING NZ CEO resigns

ING NZ CEO resigns

ING NZ announced today the resignation of Marc Lieberman as CEO effective 31 July 2008. Marc has resigned to pursue a career outside ING and has accepted a role at another organization outside New Zealand.

Marc has been with ING for eight years, of which the past two and a half have been in New Zealand.

During his time with ING NZ, he has overseen the successful introduction of KiwiSaver in the funds management business and the exceptional growth of ING Life.

“It is disappointing that Marc has resigned, given that all three divisions of our business have been highly successful under Marc’s leadership. ING New Zealand is now the number one KiwiSaver provider, the fastest growing life insurance company in the country, and our real estate business has delivered consistently strong results.” Chairman Mike Smith said. “Nevertheless, I have full confidence that the strong team reporting to Marc will continue to deliver results for our business."

A search for a successor is underway. In the meantime, the existing management team remains focused on leading and supporting the teams to continue to achieve growth across the three business lines.

ENDS

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