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ING strengthens Hedge Fund focus and launches Synthetic Portfolio Solutions


Date: Wednesday, June 23, 2010
Author: CHW

ING’s Global Securities Finance (GSF) team has hired Colin Bugler to head its new Synthetic Portfolio Solutions (SPS) team, reporting to Richard Pryce, Head of Equity Lending & Repo.

The creation of the new SPS team, which incorporates the established CFD offering, is part of ING’s ambitious growth plan for its GSF business. Bugler’s remit will be to enhance ING’s position as a strong provider of securities financing products to hedge funds, as well as expanding the range of products offered.

“Hedge funds are seeking greater credit diversification among their providers of both traditional prime brokerage and synthetic products. In addition, the market access ING can provide to Emerging Markets via its international network and broad product offering means we have a compelling proposition to offer hedge funds”, said Michael Baudo, Co-Head of ING’s Global Securities Finance business.

Furthermore, close alignment between its SPS and the Equity Lending & Repo teams will enable ING to better service hedge funds by bringing together short coverage and client position financing capabilities within one group.

Bugler has exceptional prime brokerage experience, most recently as Head of Global Prime Brokerage and Equity Finance at RBC Capital Markets. Prior to RBC, he held a similar position at Scotia Capital and previously spent eleven years in London with Merrill Lynch as Head of International Prime Brokerage & Securities Lending and with HSBC as Head of CFD Trading.

With extensive local presence in Central & Eastern Europe and Russia, Asia and the Middle East, and South America, ING offers market-leading access to Emerging Markets. In the 2010 Extel survey, ING was ranked the no1 leading pan-European Brokerage firm for European Emerging Markets overall, with ING analysts claiming the no1 spot in Economics & Macro and the top four positions for Central and Eastern European Equities.

ING Bank (A+/Aa3) is part of ING Group, one of Europe’s largest financial services groups with total assets of EUR1,236 billion and a Bank Tier 1 capital ratio of 10.9%.