CANADA - ING Real Estate announced is making significant management changes to its Canadian subsidiary and losing five members of its senior team.

ING Real Estate Canada is making a series of senior management changes Paul Dykeman, chief executive and Craig Newell, chief financial officer, alongside Lou Maroun, Kathy Harder and Jon Robbins will all leave their positions on 15 January 2009 "by mutual agreement".

I would like to thank Paul and his team for their contribution since the privatisation of Summit REIT in 2006, and wish them well for the future," said Robert Houston, chief executive officer of Investment Management for ING Real Estate.
Doug Auchterlonie, currently chief investment officer for the ING Industrial Fund, has been offered the role of chief executive officer and other internal promotions are likely to follow, according to a statement from the firm.

ING Real Estate is part of the Dutch financial institution, ING Group, and has a global portfolio of €115bn.

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