Investment Banking

UBS chief executive Ralph Hamers drawn into ING anti-money laundering probe

A Dutch court has ordered the public prosecutor to open an investigation into Hamers' role in the bank's failure to comply with anti-money laundering rules

Ralph Hamers
Ralph Hamers Photo: Getty Images

UBS's new chief executive Ralph Hamers' start at the Swiss bank has been marred by a probe into his personal involvement in anti-money laundering failures during his time at the helm of Dutch bank ING Group.

A Dutch court has ordered the public prosecutor to open an investigation into Hamers' role in the bank's failure to comply with anti-money laundering rules, ING said in a statement.

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