ING Closing Equity Asset Management in Middle East as Team Quits
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ING Groep NV, the biggest Dutch financial-services company, is ending its equity investment management business in the Middle East and North Africa after its Dubai-based team quit.
Farah Foustok, chief executive officer of the business in the region, is among those leaving, Karl Hanuska, a spokesman for ING Investment Management in The Hague, said today in a response to questions. The Dubai office will remain as a sales office, he said, declining to say where the team will now work. Foustok didn’t immediately return calls to her cell ’phone.