Rabobank loses head of market risk to ING

Rabobank’s global head of market risk, Mark van Balen, is joining Dutch rival bank ING.

Van Balen, who is on gardening leave, will be temporarily replaced by Paul Wallis, the London-based head of local market risk, and Marc Cluytens, the Utrecht-based head of risk advisory and policies, until a permanent replacement is found. ING declined to comment on the move, but van Balen is understood to be starting on the banks’ market risk team in November.

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