ING Swiss Private Bank bought by Julius Baer for CHF520 Million
Submitted by Sarabjit Heera on Wed, 10/07/2009 - 20:36
It was forwarded Wednesday by Swiss bank Julius Baer Holding AG that it mulls to buy Dutch ING Group NV's (ING) private bank in Switzerland with the aim of strengthening its position at home and in growth markets, adding $14.56 billion in client assets.
ING Group to layoff 7,000 employees; replace CEO
Submitted by Aaron Ross on Mon, 01/26/2009 - 18:22
With a second successive quarterly loss on the cards for ING Group NV, the company plans to layoff 7,000 employees, and appoint Jan Hommen - the present chairman of the ING board, and the former chief financial officer of Philips Electronics - as its new CEO in the place of the current chief executive Michel Tilmant.
Dutch ING Group to cut 7,000 jobs, CEO Tilmant steps down
Submitted by Shalini Sharma on Mon, 01/26/2009 - 08:59
Amsterdam - Dutch banking and insurance group ING on Monday announced it plans to cut 7,000 jobs and that its chief executive Michel Tilmant is to step down.
ING, in a statement, said the job cuts should save 1 billion euros (1.287 billion dollars). The financial giant is expecting a loss of 0.4 billion euros for 2008.
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