ING's Tim Condon retires after more than 18 years with the bank

ING Bank announced on Monday that its chief international economist, Rob Carnell, will succeed retiring Tim Condon as chief economist and head of research Asia-Pacific, effective July 1, 2017.

Mr Carnell, who joined ING in October 2004, will be relocated from London to Singapore, where he will functionally report to Mark Cliffe, group chief economist.

Mr Condon joined ING Barings in 1999 to head the bank's economic and financial markets research for Asia ex-Japan. He retired at the end of June after more than 18 years of service at ING in Hong Kong (until 2004) and Singapore.

"Tim has been the face of ING for the best part of 20 years, and will be a tough act to follow," Mr Cliffe said.