ING sets up new wing

ING sets up new wing

SINGAPORE (AFP): The Internationale Nederlanden Groep (ING),
the new owner of British bank Barings plc, has incorporated a new
wing in Singapore to trade in futures, a report said yesterday.

Barings' futures arm, Barings Futures Singapore (BFS), is
under judicial management after its chief trader Nick Leeson
allegedly chalked up mammoth losses crippling Britain's premier
merchant bank in March.

Singapore's leading daily The Straits Times said ING's new
futures unit, known as Barings Futures International (BFI), had
yet to start trading.