The strangest thing about ING Barings is not the offices now closed in far-flung emerging markets. It’s not the excesses that battered the bank’s P&L. It’s that its sober Dutch parent, ING Bank Europe’s sixth largest financial institution by market capitalization has been prepared to keep the investment banking unit afloat for so long. While ING’s other key businesses, asset management, insurance and retail banking, performed creditably, the investment banking group has bombed.
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