By James Langton

(December 4 – 12:40 ET) – ING Group is announcing that David Robins, head of ING Barings, has resigned as the company ponders its involvement in investment banking.

Robins, who was a member of the ING executive as well as chairman and chief executive of ING Barings, is gone, as is his second in command, Malcolm Le May, deputy chief executive and global head of corporate and institutional finance.

ING announced back in November that it is looking at alternatives for the investment business which has become a low-return, high capital consumption business. Competing in that business has become exponentially tougher as the business has consolidated on a global scale.

ING is said to be looking to sell its U.S. arm and rein in the rest of the investment business in Europe. Some in the industry see Robins’ resignation as a sign that this move is on a fast track. Michel Tilmant, vice chairman of the ING executive board, and Hessel Lindenbergh, a member of the executive, will take over in the meantime.