The Bank of New York has appointed Tom Casteleyn – a former Capco consultant -to manage its relationship with ING. The relationship between ING and the American bank – which formed a commercial alliance with the Belgo-Dutch bancassurer two years ago – has been subject to persistent rumours of decay.
Castelyn, who was a principal consultant in the market infrastructure and operations practice at Capco, will be based in London and report to Clive Gande, managing director & deputy general manager of the Bank of New York Europe.
“We have a wide ranging and growing global relationship with ING, an important part of which is the Commercial Alliance, which combines ING’s strong local brand with The Bank of New York’s global platform and product range,” says Gande. “Tom has over 10 years experience in the securities services industry. His appointment will further strengthen the relationship between BNY and ING, helping us to grow our business in Germany, Benelux and Central Europe and deliver global custody services tailored to our clients’ needs.”