Salak retires from ING, returns to Manila

ING announces the retirement of Manuel R. Salak III (Manolet), head of Client Coverage and Corporate Finance in Asia. Manolet will return to Manila and act as senior advisor to the Philippine office effective 1 July 2017.

Manolet Salak has served the Dutch financial institution for 23 years. As former country head of ING's Manila branch he announced his decision to come home and act as senior advisor to the Philippine office as of 1 July.


Salak joined Baring Brothers Hong Kong in 1994 and ING a year later when Barings was acquired by ING. He has been based in Singapore since 2008 as head of ING Asia’s Clients Coverage and Corporate Finance where he provided senior banker coverage for Asian corporate clients, financial institutions, and MNCs in ING’s Asian offices but also for growing ING’s outbound activities to Europe. He also headed the Corporate Finance-M&A and Transaction Services groups in Asia and in this capacity, worked with structured and project finance, debt capital markets and financial markets. He played an instrumental role in growing client numbers and revenues across Asia and served as a member of the Asia senior management team for almost 10 years.

Under his watch as head of Corporate Banking (1995-2000) and country head in the Philippines from 2000 to 2008, the Manila branch received numerous awards from prestigious organisations, including Best M&A House, Best Fixed Income House, Best Investment Bank, Best Fund Manager, and Best Fixed Foreign Exchange House.

He also played a significant role in advising ING Group in its insurance-asset management divestments in the Philippines, India, Australia, China, and Korea.

“We are fortunate that Manolet has agreed to serve as senior advisor to our Manila branch, where we will continue to benefit from his strong client relationship network, and his extensive commercial and investment banking experience. We express our deep institutional gratitude to him for his years of service, passion and dedication to ING,” said Gerrit Stoelinga, CEO of ING Wholesale Banking in Asia.

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