People and Business: City of Amlo

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The Independent Online
ING BARINGS failed to agree on a location for its head office following the latest shake-up of its investment bank activities, so it invented a new city - Amlo.

The problem is that, following the rejig, ING Barings has two top people based in Amsterdam and two in London.

The Dutch-based duo are Ted de Vries, who will head up the financial markets arm, and Jacques Kemp, head of network management.

The pair based in London are Malcolm Le May, the new head of corporate and institutional finance, and David Robins, the chief executive officer of the investment bank who joined last year from UBS.

Although the name "Amlo" has only just been inked in on ING Barings's internal organisation charts, I fear it may soon have to be replaced.

Michel Tilmant, the chairman of ING Barings, runs BBL, the Belgian bank that ING bought last year. Mr Tilmant is based in yet another location, Brussels.

Any takers for Bramlo?