ING Barings has named Chase Manhattan Corp. veteran Arjun K. Mathrani to the post of chief executive officer, parent company ING Group announced Wednesday.
Chase disclosed Friday that Mr. Mathrani, currently a senior managing director, is leaving the bank amid a reorganization in its global asset management unit, which he oversees.
He will join London-based ING Barings on Jan. 1, with responsibility for international corporate and investment banking. He is to report to Marinus Minderhoud, a director of ING Group and chairman of ING Barings.
"The appointment of Arjun Mathrani marks another step forward for ING Barings," Mr. Minderhoud said in a statement. He said the company is pursuing a strategy of "controlled expansion in the international corporate and investment banking marketplace."
Mr. Mathrani, in India this week to attend his daughter's wedding, could not be reached for comment.
He joined Chase in 1969 as a corporate account officer in London, and went on to hold several senior posts. He was chief financial officer in 1996 when Chase merged with Chemical Banking Corp.
In February, he became head of global asset management and private banking, a $136 billion-asset business.
At ING Barings, Mr. Mathrani will lead a newly expanded business. Earlier this year, Mr. Minderhoud integrated ING's investment banking arm, the old ING Barings, and its corporate bank, ING Bank International.
