David Carmalt has joined ING as head of investment grade (IG) debt capital markets (DCM).
Based in London, Carmalt reports to head of the EMEA corporate DCM origination platform, Valerie Ghesquière, and Mathias Blumschein, head of UK DCM.
Carmalt is responsible for the franchise’s UK build-out, originating and increasing the number of corporate and institutional IG public debt issuance transactions.
He will also work with ING’s ABS Syndicate as the company expands its presence in the UK securitisation market.
Mike Koerkemeier, head of global capital markets, commented, “David’s appointment marks an important step in strengthening our UK capital markets capabilities. His market expertise and client relationships will be instrumental as we continue to grow our IG debt franchise and deliver first-rate solutions for clients.”
Carmalt has more than 25 years of industry experience, holding senior roles including global head of DCM at Lloyds Banking Group, director of European financial institutional DCM at NatWest and vice president of European DCM at Bank of America.
For the past three years Carmalt has worked at AI solutions startups. He was head of financial services at Sand Technologies from 2023, and co-founded systems vendor Solver-AI in 2024.
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