ING Investment Management is looking to expand its roster of portfolio management teams, as it presses ahead with a restructuring that has so far involved an overhaul of its risk systems, radical changes to remuneration and a tentative step into the world of hedge funds.

Jan Straatman, chief investment officer at the €414bn ($619bn) funds arm of the Dutch banking group, said yesterday: "As part of this process we are going through, we are analysing constantly where our strengths are and where we have skill. If we see opportunities where there is a big demand, and where we don't have the capability, we will look at hiring teams or replacing existing teams."