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Industry has underpriced variable annuities, conference hears
ING Bank is offering Swedish investors a product that has the classic benefits of allowing access to an unusual and potentially risky underlying while changing its return profile. The product is based on the East Capital Russia Fund, giving local investors...
Losses & Lawsuits
After losing an estimated €3.3 billion in the last quarter of 2008, ING will lay off 7,000 employees, along with chief executive Michel Tilmant.
The cost of credit protection on the sovereign debt of Spain, Portugal and Ireland reached all-time highs in intraday trading this morning.
The cost of credit protection on a wide range of firms fell in early trading today, while spreads widened on Spanish financials and US sovereign debt.
Mohammed Grimeh, former global head of emerging markets at collapsed dealer Lehman Brothers, has been appointed as head of trading and deputy head of global markets for the Americas at Standard Chartered.
Stanislas de Caumont of Credit Suisse and Gunter Fluyt of ING will co-chair the new executive board of the European Primary Dealers Association (EPDA).
ING has hired Mathew Welch from Singapore state investment fund Temasek Holdings as head of financial institutions (FI) for Asia.
John Hele, chief financial officer of financial services group ING, will leave the firm following the company’s agreement on October 19 to receive a €10 billion capital injection from the Dutch government.
Financial services group ING on October 19 agreed terms with the Dutch government for a €10 billion capital injection, becoming the latest beneficiary of the state-supported recapitalisation process underway in Europe and the US.
Daily news headlines
Rabobank’s global head of market risk, Mark van Balen, is joining Dutch rival bank ING.
Charles Stanley Group, the stockbroker and financial services company, has announced its takeover of Edinburgh-based bond brokers, Sutherlands.
Dutch financial group ING has secured a derivatives licence to operate in the Chinese city of Shanghai.
ING Financial Markets has hired two equity derivatives traders, Jean-Guy Renard and Martin Wevers, for its Hong Kong office.
Ten financial institutions in Singapore have signed up to SD-FX, the FX options pricing system of UK-based technology company SuperDerivatives.
Dutch financial group ING is centralising its Asia-Pacific fixed-income operations in Singapore.
ING Financial Markets has hired Jeson Yih-Liang Liu, as director and head of financial markets in Taiwan. Liu will report to Percy Rueber, head of financial markets, Asia and Wu Ching-mai, country manager for Taiwan.
ING has hired Geoff Parsons in a newly created role as director and head of financial engineering in Asia.