Uday Sareen to become CEO ING Direct Australia

21 January 2016

Uday Sareen joined ING Vysya Bank in 2007 from Citibank India, where he headed up the Branch Banking business. As ING Vysya’s Head of Retail & Private Banking, Uday managed the retail bank’s turnaround and oversaw a national expansion with the rollout of more than 100 new branches in three years. In November 2012 Uday moved to Germany as ING-DiBa’s Chief Strategy Officer, returning to ING Vysya in April 2014 as Deputy CEO, responsible for Strategy and Wholesale Banking. Following the merger of ING Vysya Bank with Kotak Mahindra Bank in April 2015, Uday has been responsible for the integration of ING Vysya’s retail banking businesses.

Uday succeeds Vaughn Richtor, who will retire after a successful 24 year career at ING. Vaughn joined ING in 1991 as Head of Corporate Banking in the UK. In 1995 he was appointed CEO of the soon-to-be-launched ING Direct Australia, creating Australia’s sixth largest retail bank within 10 years. He has also been be a major contributor to the success of ING beyond Australia, having led ING Vysya as Managing Director and non-executive director through a major turnaround between 2006 and 2009, also leading ING’s commercial and retail banking operations across Asia between 2009 and 2012. Following his retirement, Vaughn Richtor will remain member of Board of Directors of TMB in Thailand and will continue to act as an advisor to ING in the region.