ING Private Banking, part of the Dutch-listed financial services conglomerate, said it has appointed Elaine Lai as general manager for wealth management and onshore private banking in China. Ms Lai peviously worked for Standard Chartered Bank.

In her new role, Ms Lai will lead the development of the onshore private banking business in China, and provide wealth management expertise to retail and private banking Asia and its affiliates  - ING Vysya Bank in India, TMB Bank in Thailand and the Bank of Beijing.

Ms Lai will be based in Shanghai and report to Philippe Damas, chief executive of retail and private banking in Asia and CEO of ING Private Banking.