ING Financial Markets has lured Rob Carnell away from the Commonwealth Bank of Australia's London offices. From October 18, Carnell will join the Dutch institution as its new senior economist and director of the organisation's 25-member global economics team.

Carnell will be based in London and report to Mark Cliffe, global head of economics and strategy research. In the new position, his responsibilities will comprise of covering developed economies and markets, focusing the majority of his attention on its interests in the Eurozone and Japan.

He will also work closely with Tim Condon, the bank's head of financial market research, Asia. He will also take over the responsibilities previous undertaken by Richard Jerram, former chief economist with ING Financial Markets in Tokyo, who has since accepted the Tokyo-based position of chief economist at Macquarie Securities.

At CBA London, Carnell held the title of senior international economist for the Australian institution. He was primarily responsible for generating rate forecasts for central banks.

Before CBA, Carnell spent time as an economist at Schroders Investment Management, where he looked at the economies of Asia and Japan. Before Schroders, Carnell was employed for a five-year stretch by the UK government as a member of the HM treasury's inflation and monetary policy team.