Robert Houston, chief executive of ING Real Estate’s investment management business, will leave in the summer.

Houston, who was appointed to the role last September, will step down on 1 August to launch a new strategic advisory business and focus on his sports charity, Boost.

ING Real Estate's CEO George Jautze will assume Houston’s role, in addition to managing the reorganisation of the business designed to cut costs, which will see its three real estate business merge into the ING group.

Jautze said; ‘I have greatly appreciated Robert’s contribution to the real estate investment management business over a period of 30 years, most recently as my global CEO, helping to navigate the business through a difficult period over the last year.’

Houston was one of the original founders of ING's real estate investment management business in the UK in 1980, formerly known as Baring, Houston & Saunders.