News has emerged that John Mullins, ING's head of Asian securitization, has left the bank to set up a new Asian securitization group at Royal Bank of Scotland in Tokyo. Mullins had been in charge of ING's Asian securitization business since 1999 after joining the firm from Daiwa Securities.
When Mullins joined ING he brought with him a team of seven from Daiwa and there is speculation that he wants them to join him at RBS as he seeks to build a regional ABS franchise from scratch. It has been rumoured that most of the team offered their resignations to follow their boss to pastures new, but remain where they are...
