By Sabela Ojea 
 

ING Groep N.V. (ING) said Friday that it is moving some of the trading operations of its Financial Markets department from London to Brussels.

The Dutch bank said this will affect around 30 trading jobs and around 15 related risk-management roles that include products such as interest-rate derivatives and bonds.

The lender said that this move was driven by the fact that, following Brexit, the European Central Bank will classify the U.K. as a non-European Union or third country.

The implementation of the plan will start as soon as possible, the lender said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

January 31, 2020 10:46 ET (15:46 GMT)

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