The new hire was previously president and CEO of the Philippine Stock Exchange for six years.

Former president and chief executive of the Philippine Stock Exchange, Hans Sicat, will head the Manila branch of Dutch firm ING Bank. He will replace current country manager Consuelo Garcia, who will retire in November.

Sicat will join the bank in August to ensure a smooth transition when he replaces Garcia, as head of clients, the firm said in a statement.

He joins the firm from PSE, where he was president and CEO for six years until May 2017. He has also held roles at Citicorp and Salomon Brothers in the Philippines, Hong Kong and New York. 

Garcia joined ING in 1991 as head of financial markets, and according to reports, her retirement will be effective as of 18 November.

“ING is grateful to Ms. Garcia for her engaging leadership style and the entrepreneurship that she promoted at ING Bank Manila,” Gerrit Stoelinga, chief executive of ING Wholesale Banking Asia, said. “She always put our clients first. We will miss her dearly and wish her all the best for her well-deserved retirement. We are fortunate to have found a worthy successor in Mr. Hans Sicat.”