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ING expands wholesale banking in Australia

by reporter4 minute read
ING expands wholesale banking in Australia

ING Australia has appointed a new head of debt capital market, Australia, to lead the new business as the wholesale bank expands.

Ben Stewart, the former director of debt capital market (DCM) at Mizuho Securities, has joined ING as its new head of DCM for Australia.

In his new position, Mr Stewart will work closely with the onshore teams to cover both corporate and financial institution clients in Australia.

The new head of CDM Australia has previously held senior roles with Bank of America in AUD Syndicate in Australia and with TD Securities, Singapore in DCM and Syndicate.

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Prior to gaining his DCM experience, he worked with CBA Group Treasury, where he was executive manager, group funding in Sydney and in London.

ING’s head of Asia Pacific sustainable finance and global capital markets, Helge Muenkel, commented: “Ben is well placed to leverage ING’s global DCM platform to deliver a client-centric debt solutions to the Australian clients.”

Mr Stewart, who started his new role in March, will now oversee ING’s new division of the wholesale bank, as it continues to expand.

ING’s head of wholesale banking Australia, Charles Ho, commented: “This is a natural expansion of ING’s wholesale banking business in Australia as it strongly complements our onshore sector teams and significantly lifts ING’s debt solution offering to Australian clients.”

ING Australia’s wholesale banking assets are believed to currently total $8 billion, with a local team specialising in sectors such as infrastructure, real estate finance, renewable energy, financial institutions, TMT & healthcare, leveraged finance and food and agriculture.

[Related: Brighten creates white label channel role]

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