ING RE appoints global investment chief

Commenting on the appointment, George Jautze, chairman and chief executive of ING Real Estate, said: "I am very pleased that Robert has taken over from David and that the leadership of the global investment management business has been secured. Over the past decade this business has grown into a leading investment company with a strong regional presence in Europe, America and Australasia. Robert’s experience and knowledge will enable us to strengthen our global platform."

Stephen Pyne, ING Real Estate’s chief investment officer for the UK, will take up a new role alongside Houston as global portfolio manager responsible for global cross-border investment in the group.

Kevin Aitchison, head of ING Real Estate’s segregated account and joint venture business in the UK, will succeed Houston as chief executive in the UK. Houston will remain chairman of the UK real estate investment management business.

Houston said: "This is a great opportunity. Having had the privilege of managing and growing the UK business over the past 28 years, I now have the chance to build ING Real Estate’s global investment management platform at a time when investors are increasingly seeking global opportunities."