ING hires bank team from BOA

ING Barings in India is hiring a 12-strong investment banking team on the move after Bank of America shut down its equity and advisory operations.

The group will be headed by Sunil Gulati.

'To reinforce its commitment to India, ING needed to make some rapid strides so as to ensure its rightful place in the financial community. Hiring of the Bank of America investment banking team is one such major step in that direction,' India Country Manager Atul Sahasrabuddhe said.

Recent achievements for the team under the direction of Mr Gulati include the sale of a 50 per cent stake in Zuari Cements to Italcementi, and the sale of a minority stake in Fascel Limited to Hutchison Telecom.