NETHERLANDS – ING Investment Management’s Joost Wijstma has left the firm to become a director of business development at rival Robeco.

He will initially focus on service and sales for Finland, though Robeco – the asset management arm of Rabobank - is currently in the process of allocating more responsibilities.

According to Robeco’s head of institutional asset management, Jan Willem Siekman, the move was prompted by career development prospects.

“I think Joost saw more opportunities at Robeco in having his own responsibilities and being part of running a team. I think ING is more hierarchical.”

Robeco has more than €110bn in assets under management. Earlier this year, institutional assets under management at ING fell 17.2% to €99bn after the sale of Baring Asset Management.

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