ING Set To Cut 1100 Jobs at Barings

January 29, 2001

Following a “strategic review” commenced last November, ING Group announced that it expected to cut around 1100 jobs at its investment banking units, principally at Barings Bank in London.

The move is in line with the Dutch financial services and insurance group’s decision to retreat from the investment banking market, and follows its decision to also sell its U.S. units. Holland’s ABN Amro Bank is reportedly the leading contender.

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