Australia and New Zealand Banking Group has appointed Kiseok Kim as chief executive for Korea. 

Kim joins the company from Bank of America Merrill Lynch where he most recently served as managing director, branch manager and head of global markets for Korea. He officially starts in his new role on 1 October, reporting jointly to Gilles Plante, the CEO for North East Asia, Europe and America, and Sameer Sawhney, the managing director, corporate and institutional banking and private bank for the Asia Pacific. He takes over from HJ Kim, who is said to be pursuing other interests after three years on the job.

"Korea is Asia's fourth-largest economy and is also Australia's fourth-largest trading partner with two-way trade worth A$25.8 billion in 2010. We are investing in Korea to support the domestic requirements of our Korean customers, including financial institutions and multinational corporations, and connect them to our network across Asia Pacific, Australia, New Zealand, Europe and North America," said Plante in a press release. 

ANZ Banking group aims to increase its Asia Pacific generated income by 25 to 30 per cent by 2017. During the first half of 2011, the company reported that 15 per cent of its revenue came from the region.