Erik Versavel will relocate to Korea from ING's Shanghai office to serve as country manager for South Korea. The move will mark a return to Korea for Versavel, who reports to David Hudson, CEO of ING Bank, Asia.

Taking over from KH Yoon, ING will shift Versavel from his current role as country manager, China, to Seoul on August 15. In the new role, he will be responsible for ING's corporate and investment banking franchise in South Korea.

Versavel's corporate banking experience extends back to August 1983, where he joined Bank Brussels Lambert, which was acquired by ING in 1998. For BBL, he worked as a corporate banker in London, Seoul and Jakarta, where in 1998 he became the head of debt restructuring and a director at PT ING Indonesia Bank.

He relocated in 2000 to China to become the general manager of the ING Bank Shanghai office before assuming his current position of country manager, China in 2002.

ING will announce a replacement for Versavel in China in the near future.