ING Secuties Services’ Cremer leaves

THE NETHERLANDS – Ingrid Cremer, marketing and communication manager for ING Securities Services in The Netherlands, has left the firm.

Kremer joined the Dutch energy company NUON as senior adviser for corporate branding.

“ This seems to me as inspiring and creative job in a totally different environment” she said, adding she considered her career at ING as a “nice and interesting period”.

Cremer will be temporarily replaced by Bas Hoefman, who will cooperate with Ingrid Reichmann, director of marketing and sales.

ING is considering both internal and external candidates to the position and the recruitment process will continue next week, Cremer said.

ING’s 2004 earnings report showed the group posted a 33% rise in net profit to €5.4bn. “All in all, the financial results in 2004 were encouraging,” said chairman and chief executive Michael Tilmant.

But ING’s asset management arm lost €13.8bn, or more than 10%, of its institutional assets under management in the last three months of 2004 - due to the reclassification of assets and a disposal.

According to the report, institutional assets under management declined to €119.6bn at the end of the year. A spokesman said the decline was partly due to the sale of Delta Asset Management, which accounted for €3.5bn of assets.

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