ING appoints new Chief Executive Officer

ING appoints new Chief Executive Officer

Helen Troup to lead funds management, insurance and real estate businesses

The Board of ING NZ announced today that Helen Troup has been promoted to Chief Executive Officer of ING NZ where she will lead the funds management, insurance and real estate businesses. Ms Troup currently is Executive Director of Life Risk at ING Australia.

Ms Troup has been with the ING Group for seven years, and has achieved significant success as evidenced by strong revenue and profit growth for ING Australia Limited's life risk business, transforming the company to become the leading risk provider in Australia.

"Helen's ability to achieve organic growth is evidenced though her success with ING Life Risk, which has seen the market share in retail sales increase from number six to number one under Helen's leadership," Chairman Michael Smith says. "I am confident that her energy and drive will be welcomed across all business divisions in New Zealand," continued Mr Smith.

Ms Troup brings strong commercial acumen to the role, as ING Life Risk has achieved compound annual profit growth of 15% every year since 2004. As part of the executive team of ING Australia, Helen Troup has been involved in all aspects of wealth management and protection across the financial services spectrum.

"Helen's skills, together with the knowledge and experience of the local management team, provide a strong combination to lead ING NZ through its next growth phase," Mr Smith said. "Her ability to lead high-performing teams to exceed expectations is well-demonstrated."

Ms Troup has a Bachelor of Economics majoring in actuarial studies from Macquarie University, and spent her early career in the actuarial field before moving into product management. Most recently Helen has held more general management roles with ING Australia, which operates under a similar joint venture arrangement between ING Group and the ANZ National Bank.

She will officially commence with ING New Zealand on July 11.

ENDS

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