ING Investment Management Asia/Pacific has appointed Steven Billiet as chief executive, replacing David McClatchy who leaves at the end of the month.

Billiet is moving to Australia from his current position as chief executive of ING Funds Taiwan, which is the largest asset manager in Taiwan. The firm manages about $35 billion in Australian-sourced assets.

Paul Klug, regional general manager of ING IM Asia Pacific, said Billiet had an excellent track record developing asset management businesses, which cames at an important time in the expansion of the ING IM business in Australia.

Billiet has been with ING for 15 years, starting his career in product management and development with ING Investment Management Brussels. 

Klug said: “As a global manager, ING IM will continue to bring the best of (ING’s) international investment capabilities to Australian investors, as well as leverage our strengths in fixed income, Australian equity, multi-manager strategies, and real estate locally.” 

McClatchy has been chief executive in Australia since September 2007, after replacing Grant Bailey who took up a post in the Middle East. Before that McClatchy was the firm’s chief investment officer.