ING hires new CIO for its private banking unit

ING Private Banking has appointed Hou Wey Fook as chief investment officer in Asia to fill the vacancy left by Chew Soon GekÆs recent departure from the bank. Hou was previously head of global equities and external fund management at SingaporeÆs Lion Capital Management.

Hou will be based in Singapore and will report to Renato de Guzman, the private bankÆs chief executive in Asia. Functionally he will also report to Gregory Shore, ING Private BankingÆs global CIO.

ôWe are confident that this hire will significantly support ING as it continues to strengthen its franchise in the region, and set the standard in helping our high-net-worth clients manage their financial future,ö says De Guzman in a written statement.

With more than 20 years of investment management experience, Hou has covered various asset classes including equities, fixed income and alternative investments.

While at Lion Capital, Hou was also director and chief executive officer of Lion Fairfield Capital Management, a subsidiary focusing on hedge funds. Before he joined the firm, he was chief investment officer of OCBC Asset Management.