Bloomberg News

ING Cuts Staff in New York, Mexico From Emerging Markets Group

December 28, 2011

Dec. 14 (Bloomberg) -- ING Groep NV, the biggest Dutch financial services company, cut jobs from its Latin America dollar-denominated debt group in Mexico and New York.

ING fired five people in Mexico, said Elaine Clark, a spokeswoman in New York. She declined to specify how many positions were eliminated in New York. The changes won’t affect foreign-exchange trading, she said.

ING will shift some positions to London from New York as it prepares for new capital requirements set by the Basel Committee on Banking Supervision, she said.

“New York will remain relevant,” Clark said in a telephone interview.

The Mexico office will be kept open, she said. There were no changes to staffing in Brazil, she said.

--Editors: David Papadopoulos, Brendan Walsh

To contact the reporter on this story: Veronica Navarro Espinosa in New York at vespinosa@bloomberg.net; Drew Benson in New York at abenson9@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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