NETHERLANDS – Arthur van der Wal, current head of relationship management for institutional clients at ING Investment Management, has been named managing director institutional clients with effect from July 1.

He succeeds Obbe Kok, who has been appointed global head of asset based finance and infrastructure with ING Wholesale in Amsterdam.

Kok, 38, left as managing director at the end of May. He started his career at the asset management arm of ING in 1994, and was in the investment management division for seven years.

He was appointed managing director institutional clients in 2001.

According to a spokesperson for ING, “After seven years with ING IM, this appointment presents a new challenge for him.”

Meanwhile, Van der Wal, 33, will be based in The Hague and report to Gerard Bergsma of ING IM Europe’s management council.

Van der Wal’s main focus will be the maintenance and expansion of strategic partnerships with ING IM customers, the spokesperson told IPE.

He has been at ING for the past 10 years, seven of which have been within the institutional clients department.

ING Investment Management has more than €350bn in assets under management.

In May, IPE reported that ING IM was planning to open an office in Germany – most likely Frankfurt – for a renewed assault on the German institutional market.

The asset management outfit’s ambition is to cover both the institutional market where the firm has won its first mandates as well as pursue further opportunities in the fund subscription/distribution market.