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ING chief quits

Friday 6th June 2008

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ING chief executive Marc Lieberman has unexpectedly resigned and is to take up a position running the European operations of a large United States financial services operation.

Lieberman can't reveal the name of that company or where he will be based at the moment.

He finishes up with ING on July 31.

He says although it was a difficult decision to make leaving ING, the new position is a "once in a lifetime opportunity. It was too good to pass up," he says.

Lieberman came to New Zealand from the US, two and a half years ago to take up his current position formerly held by Paul Fyfe.

When asked what his legacy is, Lieberman says: "Paul is a legend in the New Zealand financial services industry.

"I would never have attempted to step into his shoes.

"Paul's legacy and my legacy are two completely different things."

He says some of the highlights of his time here have been the launch of KiwiSaver, the growth of ING Life and the success of the company's property team.

ING's regional office in Hong Kong is starting to look for a replacement for Lieberman.

He says the company has a strong management team and working for ING in New Zealand has been a great experience.

"I'd like to say there will be a gap (in the team) when I leave, but I doubt there will be," he said of the team.

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