ING is pleased to announce the appointment of David Carmalt as Head of UK Investment Grade (“IG”) Debt Capital Markets, part of ING’s Global Capital Markets (“GCM”) team. David will be based in London and will lead the build-out of ING’s DCM IG franchise across the UK.
In his new role, David will be responsible for originating and growing investment-grade public debt issuance transactions with both corporate and financial institution issuers, strengthening ING’s presence in the UK market and supporting the broader growth ambitions of the Global Capital Markets platform.
David will also play a key role in supporting ING’s growth ambitions within the UK securitisation market. Building on the recent establishment of a dedicated ABS Syndicate in London, ING plans to further develop this business line throughout 2026, reinforcing its commitment to innovation and market leadership. David’s appointment also underscores ING’s commitment to expanding its UK franchise and investing in strategic growth areas globally.
London is a key hub for Capital Markets & Advisory and forms a critical link in ING’s European network. David’s appointment reinforces ING’s commitment to expand origination capabilities and deepen client relationships in the UK.
Mike Koerkemeier, Head of Global Capital Markets at ING said:
“David’s appointment marks an important step in strengthening our UK Capital Markets capabilities.
His deep market expertise and client relationships will be instrumental as we continue to grow our investment-grade debt franchise and deliver first-rate solutions for clients.”
David brings more than two decades of experience in Debt Capital Markets and M&A, having held senior roles at DLJ/Credit Suisse, Bank of America, NatWest Markets, and most recently as Global Head of DCM at Lloyds Bank. He also brings recent experience in technology scale-ups and start-ups, adding a unique perspective to client engagement and innovation.
David Carmalt, Head of UK Investment Grade Debt Capital Markets, said:
“I am delighted to be joining ING at such an exciting time for the Capital Markets & Advisory team, and specifically to help with the continued build-out of the UK franchise.
Over the last two decades I have worked on a host of transactions alongside ING and am excited to now be a part of this collaborative, forward-thinking and client-focused business.”
David will report functionally to Valerie Ghesquière, Head of ING’s EMEA Corporate DCM Origination platform and locally to Mathias Blumschein, Head of DCM UK coordinating with colleagues globally to deliver ING’s unique blend of reach and local expertise.
David holds a BA (MA Hons) in Biological Sciences from Oxford University and the CFA Certificate in ESG Investing. He starts his new position at ING from 5th January 2026.
