Former ING exec signs up with National

RICHARDKlipin,ING’s former head of practice development, has abandoned a joint venture he recently launched with a number of other ING staffers, opting to take on the role of New South Wales regional practice development manager with the National Australia Group.

Klipin was one of the co-founders of The Encore Group — a practice management consultancy launched earlier in the year. Klipin and former ING colleagues Graham Peatey and Matthew Fogarty established the group after leaving ING in December last year.

Klipin has now sold his stake in the company to the remaining partners.

“The reason [for the departure] is that Richard is a corporate animal, and after being headhunted by NAB, he was made a good offer for a position. He has family commitments to think of and it’s obviously a good move for him,” Peatey says.

At ING, Peatey and Fogarty were head of distribution business development and practice development manager respectively.

The other main partner of the group is former ING head of business solutions John Suter who left the company two years ago.

Encore, however, has two remaining partners but they have lesser stakes in the group — Melbourne-based partner Sam Aylett and Sydney-based John McIntosh.

Encore, which began operating on January 6, ironically has an outsourcing relationship with ING Australia to provide it with practice management services — a service that was previously performed inhouse.

Peatey says that while ING is its main client, it has a number of others and is in the process of expanding the business further.

According to Peatey, the group is valued at $1.5 million and is co-owned to varying degrees by the firm’s seven employees.

Klipin, who will commence his new role on May 12, was unable to comment on the matter at the timeMoney Managementwent to press.