ING Investment Management has named Grant Bailey as its new chief executive for Asia.

Bailey has been with ING Groep for the past nine years and most recently served as its general manager for Asia. In his new role, he replaces Alan Harden, who has moved to another company, and will be based in ING Investment Management's Hong Kong headquarters. His appointment remains subject to regulatory approval.

ING Investment Management is the $485 billion asset management subsidiary of ING Groep.