ING Barings has set up Internet and telecommunications teams in its investment banking arm as part of a drive to expand its corporate finance coverage. Peter Schloss will head the Asian Internet and media group and Lloyd Fischer will lead the Asian telecommunications group. Many investment houses have recently hired Internet and telecommunications specialists for their equity and investment banking arms as the sectors attract more attention. Mr Schloss was an independent consultant to Internet and media companies before joining ING. Mr Fischer will join ING later this month from Salomon Smith Barney.