ING has announced that Herry Cho, head of sustainable finance for Asia-Pacific, is leaving in February 2021 to pursue an opportunity outside of the company.
It is reported that Cho is to be appointed managing director, head of sustainability and sustainability finance at the Singapore Exchange (SGX). A newly created position aimed at supporting SGX's sustainability strategy. Her successor at ING will be announced in due course.
ING launched its sustainable finance franchise in Asia in 2017 with Cho’s guidance, and in the three years that followed, the team has closed several landmark sustainable transactions, according to a statement.
One milestone deal was the US$65 million revolving facility for Singapore-based private equity fund Quadria Capital in 2019, which was the world’s first sustainability improvement fund financing for private equity.
The bank also acted as a mandated lead arranger and joint green loan coordinator in the S$1.2 billion (US$907 million) refinancing term loan secured by Frasers Tower, which was the first syndicated green loan in Southeast Asia under the Green Loan Principles.