Welcome to the clog division

ING''s new FIG strategy has seen it go into partnership with a Singapore IT firm.

What started out as a bunch of cloggies from Amsterdam trying to save the world's dodgiest banks from their own incompetence, has turned into an interesting business line at ING.

This fact has become even more pronounced now that it has signed a partnership agreement with Singapore's eBworx, an IT solutions company.

The business area in question is called Institutional and Government Advisory IGA and involves sending expat Dutch commercial bankers into badly performing banks in emerging markets. This started off as a work of goodwill, designed to create strong relationships in key emerging market countries.

However, the dour Dutch bankers proved so successful at overhauling management and risk systems that soon the investment...

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