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98-553: The Investment Advisor of the Funds, Baring Vostok Capital Partners ( Guernsey ) several times since 2005 has been voted “Russian Private Equity Firm of the Year” by the readers of Private Equity International and Private Equity Online. The sub-advisor of BVCP has a branch office in Moscow with a team of 40 experienced investment professionals. From its founding in 1994 through 2004, the firm

196-455: A "monarch", or the islands as a monarchy, all documents refer to the king by royal titles. Guernsey's largest industry is financial services , followed by tourism and agriculture. The island is particularly well known for its cattle . Guernsey's culture is strongly influenced by Britain , evident in its use of the pound sterling and the status of English as the primary native language. Norman and French culture also have an impact, such as

294-681: A 30-year bond in December 2015 for £330m, its first bond in 80 years. The island has been given a credit rating of AA-/A-1+ with a stable outlook from Standard & Poor's . ING Group The ING Group ( Dutch : ING Groep ) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam . Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$ 967.8 billion, it

392-403: A complex geological evolution (especially the rocks of the southern complex) with multiple phases of intrusion and deformation recognisable. Guernsey is composed of nine main rock types; two of these are granites and the rest gneiss . Guernsey is a parliamentary representative democracy and a British Crown Dependency . The Lieutenant Governor of Guernsey is the "representative of

490-584: A consequence is directly supervised by the European Central Bank . In 2020, ING had 53.2 million clients in more than 40 countries. The company is a component of the Euro Stoxx 50 stock market index . The long-term debt for the company as of December 2019 is €150 billion. ING is an abbreviation for Internationale Nederlanden Groep ( lit.   ' International Netherlands Group ' ). The orange lion on ING's logo alludes to

588-622: A manorial court to hear disputes between tenants, and the Abbot of St. Michael and the Seigneur d'Anneville had the right of high jurisdiction and the privilege of trying and executing criminals, respectively, so that the civil order of the island was fully regulated even before the Norman conquest of England. In 1204, when King John lost the continental portion of the Duchy to Philip II of France ,

686-644: A parish meeting each year. The senior Douzenier is known as the Doyen (Dean). Two elected Constables ( Connétables ) carry out the decisions of the Douzaine, serving for between one and three years. The longer serving Constable is known as the Senior Constable and his or her colleague as the Junior Constable. The Douzaines levy an Occupiers Rate on properties to provide funding for running of

784-722: A personal name such as Grani or Warinn, or from gron , meaning pine tree. Previous names for the Channel Islands vary over history, but include the Lenur islands, and Sarnia ; Sarnia for Guernsey, or Lisia (Guernsey) and Angia (Jersey). Around 6000 BC, rising seas created the English Channel and separated the Norman promontories that became the bailiwicks of Guernsey and Jersey from continental Europe . Neolithic farmers then settled on its coast and built

882-413: A popular offshore finance centre for private-equity funds . Guernsey does not have a Central Bank and it issues its own sterling coinage and banknotes . UK coinage and (English, Scottish and Northern Irish-faced) banknotes also circulate freely and interchangeably. Total island investment funds, used to fund pensions and future island costs, amount to £2.7billion as at June 2016. The island issued

980-445: A range of products, from cash management to corporate finance. Elsewhere, it takes a more selective approach to clients and products. ING Wholesale Banking was strengthened in 1995, when ING took over Barings Bank . This acquisition increased the brand recognition of ING around the world and strengthened its Wholesale Banking presence in the emerging markets. Following the acquisition and up until 2004, ING's investment banking division

1078-554: A total area of 71 square kilometres (27 sq mi) and coastlines of about 46 kilometres (29 mi). Elevation varies from sea level to 110 m (360 ft) at Hautnez on Guernsey. There are many smaller islands, islets, rocks and reefs in Guernsey waters. Combined with a tidal range of 10 metres (33 feet) and fast currents of up to 12 knots , this makes sailing in local waters dangerous. The very large tidal variation provides an environmentally rich inter-tidal zone around

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1176-401: Is a division of ING Bank (Australia) Limited. ING-DiBa is Germany's third biggest bank by the number of customers (c. 9 million). In 2016, the bank reported total assets of €158 billion and had around 3,900 employees. ING bought 49% of Allgemeine Deutsche Direktbank AG in 1998, which as of 1989 traded as DiBa. It acquired a further 21% of the company in 2002 and the remainder by 2003. By 2007,

1274-556: Is also a source of Guernsey law for those matters which are reserved to the UK, namely defence and foreign affairs. The head of the bailiwick judiciary in Guernsey is the Bailiff, who, as well as performing the judicial functions of a Chief Justice, is also the head of the States of Guernsey and has certain civic, ceremonial and executive functions. The Bailiff's functions may be exercised by

1372-562: Is an associate of Putin and the FSB. Calvey maintained the charges were baseless, supported by a BBC investigation, and said the real reason for the arrest was Calvey was suing Avetisyan in a separate case in London, and winning, and Avetisyan used his connections with the FSB to have Calvey arrested in Russia. Avetisyan stood to gain 10s of millions if Calvey was convicted, and Calvey faced 10 years in

1470-509: Is based at Victor Hugo 's former residence at Hauteville House . While the jurisdiction of Guernsey has complete autonomy over internal affairs and certain external matters, the topic of complete independence from the British Crown has been discussed widely and frequently, with ideas ranging from Guernsey obtaining independence as a Dominion to the bailiwicks of Guernsey and Jersey uniting and forming an independent Federal State within

1568-853: Is best known for its early stage investment in Russian search engine, Yandex , acquiring a 35.7% stake in the business in 2000. At the time of the Yandex IPO, Baring Vostok is estimated to have generated value of approximately $ 4 billion, representing a return on its original $ 5 million investment in excess of 800x. Among Baring Vostok's other investments are Volga Gas, Borjomi Mineral Water , Ozon.ru, Burren Energy , CTC Media , Centre of Financial Technologies, Enforta, ER-Telecom, 1C, Burren Energy, Novomet, Kaspi Bank, Orient Express Bank, Europlan, Novomet, Karo, Avito.ru, Tinkoff.ru, EMC and Golden Telecom , Verticali and marketing platform "Mindbox". Baring Vostok Capital Partners origins date back to 1994 with

1666-503: Is called the States of Deliberation ( États de Délibération ) and consists of 38 People's Deputies, elected on an islandwide basis every four years. There are also two representatives from Alderney , a semi-autonomous dependency of the Bailiwick, but Sark sends no representative since it has its own legislature. The Bailiff or Deputy Bailiff preside in the assembly. There are also two non-voting members: H.M. Procureur (analogous to

1764-539: Is classified as an oceanic climate , with a dry-summer trend, although marginally wetter than Mediterranean summers. The warmest months are July and August, when temperatures are generally around 20 °C (68 °F) with some days occasionally going above 24 °C (75 °F). On average, the coldest month is February with an average air temperature of 6.9 °C (44.4 °F). Average air temperature reaches 17.1 °C (62.8 °F) in August. Snow rarely falls and

1862-479: Is headed jointly by Maurits Duynstee (Head of Corporate Finance, Continental Western Europe) and Pierre Chabrelie (Head of Corporate Finance, UK and CEE). ING Corporate Finance has a strong presence in Russia and Central and Eastern Europe. ING's insurance business operates throughout America, Asia and Europe. In 2009, ING announced plans to separate its insurance business from its main banking operations through two IPO's, one for Europe and Asia and another one for

1960-804: Is not part of the United Kingdom , although defence and most foreign relations are handled by the British Government. The entire jurisdiction lies within the Common Travel Area of the British Islands and the Republic of Ireland . Taken together with the separate jurisdictions of Alderney and Sark it forms the Bailiwick of Guernsey . The deliberative assembly of the States of Guernsey ( États de Guernesey )

2058-578: Is one of the biggest banks in the world, and consistently ranks among the largest banks globally . ING is the Dutch member of the Inter-Alpha Group of Banks , a co-operative consortium of 11 prominent European banks. Since the creation in 2012, ING Bank is a member in the list of global systemically important banks . It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as

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2156-607: Is responsible for Guernsey's constitutional and external affairs, developing strategic and corporate policy and coordinating States business. It also examines proposals and Reports placed before Guernsey's Parliament (the States of Deliberation) by Departments and Non States Bodies. The President of the committee is the de facto head of government of Guernsey. Guernsey's legal system originates in Norman Customary Law, overlaid with principles taken from English common law and Equity as well as from statute law enacted by

2254-722: Is the President of the Policy and Resources Committee . The jurisdiction's parliament and government is the States of Guernsey . The island is divided into ten parishes . It has one town, called Saint Peter Port . The government variously defines the position of the King of England as "Head of State" or "successor to the Duke of Normandy. Although no document explicitly defines the Head of State as

2352-441: Is the new name for ING Commercial Banking as of 20 January 2016. The new name better reflects the large corporate and institutional, international offering that makes up the vast majority of ING WB's business. ING's Corporate Finance department advises businesses on important corporate transactions, including mergers and acquisitions, initial public offerings, secondary offerings, share buy-backs and management buy-outs. The division

2450-540: Is the second-largest island in the Channel Islands , located 27 miles (43 km) west of the Cotentin Peninsula , Normandy . It is the largest island in the Bailiwick of Guernsey , which includes five other inhabited islands – Alderney , Herm , Jethou , Lihou and Sark – and many small islets and rocks. The bailiwick has a population of 63,950, the vast majority of whom live on Guernsey, and

2548-490: Is unlikely to settle, but is most likely to fall in February. The temperature rarely drops below freezing, although strong wind-chill from Arctic winds can sometimes make it feel like it. The rainiest months are December (average 119 mm (4.7 in)), November (average 107 mm (4.2 in)) and January (average 92 mm (3.6 in)). July is, on average, the sunniest month with 253 hours recorded sunshine; December

2646-546: The Nationale-Nederlanden insurance company. Nationale-Nederlanden expanded significantly during the 1970s and 1980s. In 1881, the Dutch government created the Rijkspostspaarbank , a postal savings system to encourage workers to start saving. Four decades later, they added Postcheque and Girodienst services allowing working families to make payments via post offices. Separately in 1927,

2744-724: The Silesian Bank 's majority shareholder . In 2001 Bank Śląski merged with ING Bank N.V. Branch in Warsaw . Since then, the bank is operating under the name of ING Bank Śląski . ING offers branchless banking with operations in Australia, Italy, Spain, Germany and Austria. It offers services over the counter, web, phone, ATM or by mail. The service concentrates on simple interest-bearing savings accounts for retail customers. Originally created as ING Direct , these branches were renamed to ING between 2017 and 2019. ING in Australia

2842-584: The dolmens and menhirs found in the islands today, providing evidence of human presence dating back to around 5000 BC. Evidence of Roman settlements on the island, and the discovery of amphorae from the Herculaneum area and Spain, show evidence of an intricate trading network with regional and long-distance trade. Buildings found in La Plaiderie, St. Peter Port dating from 100 to 400 AD appear to be warehouses. The earliest evidence of shipping

2940-539: The militia . The neutrality lasted another century, until William III of England abolished the privilege due to privateering activity against Dutch ships. In the mid-16th century, the island was influenced by Calvinist reformers from Normandy. During the Marian persecutions , three women, the Guernsey Martyrs , were burned at the stake for their Protestant beliefs, along with the infant son of one of

3038-655: The 9th century. The principal court is the Royal Court and exercises both civil and criminal jurisdiction. Additional courts, such as the Magistrate's Court, which deals with minor criminal matters, and the Court of Appeal, which hears appeals from the Royal Court, have been added to the Island's legal system over the years. Several European countries have a consular presence within the jurisdiction. The French Consulate

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3136-607: The Climate Change Policy & Action Plan adopted in August 2020. Guernsey has a geological history stretching further back into the past than most of Europe. It forms part of the geological province of France known as the Armorican Massif . There is a broad geological division between the north and south of the island. The Southern Metamorphic Complex is elevated above the geologically younger, lower-lying Northern Igneous Complex. Guernsey has experienced

3234-628: The Commonwealth, whereby both islands retain their independence with regards to domestic affairs but internationally, the islands would be regarded as one state. Although it was not a member of the European Union , it had a special relationship with it until Brexit . It had been treated as part of the European Community with access to the single market for the purposes of the free trade in goods. From 2021 with free travel to

3332-560: The Crown in right of the république of the Bailiwick of Guernsey". The official residence of the Lieutenant Governor is Government House. Since 2022 the incumbent has been Lieutenant General Richard Cripwell CB , CBE , CStJ . The post was created in 1835 as a result of the abolition of the office of Governor. Since that point, the Lieutenant Governor has always resided locally. The jurisdiction

3430-496: The Deputy Bailiff. The posts of Bailiff and Deputy Bailiff are Crown appointments. Sixteen Jurats, who need no specific legal training, are elected by the States of Election from among Islanders. They act as a jury, as judges in civil and criminal cases and fix the sentence in criminal cases. First mentioned in 1179, there is a list of Jurats who have served since 1299. The oldest Courts of Guernsey can be traced back to

3528-549: The Dutch Government. The plan supplied €10 billion (US$ 13.5 billion) to the operation, in exchange for securities and veto rights on major operational changes and investments. The European Commission also required ING to divest itself of its insurance and investment management operations by the end of 2013 as a condition of approving the state aid. In December 2009, ING raised €7.3 billion through share issues, and repurchased securities representing half of

3626-572: The Dutch government initiated a re-organization of Dutch banks which resulted in the creation of the Nederlandsche Middenstands Bank (NMB) . NMB provided retail banking services in the Netherlands and abroad. In 1986, post office banking services were privatized as Postbank N.V. and three years later it would merge with NMB bank to form NMB Postbank Groep . In 1991, the banking business of NMB Postbank Groep and

3724-856: The EU demanded changes to the company structure, including the sale of insurance businesses in Latin America, Asia, Canada, Australia and New Zealand and ING Direct units in the US, Canada and the UK. This included the sale of the ING Direct US operations to Capital One , ING Direct Canada to Scotiabank (d/b/a Tangerine ) and the ING Direct UK operations to Barclays bank in 2012. The spun-off insurance businesses in North America were renamed Voya Financial in 2014. In April 2016, ING sold

3822-865: The European Commission in 2012. In July 2011, ING sold all its Latin American insurance operations to the Colombian insurance company Grupo Sura for US$ 3.85 billion, excluding ING's 36 percent holding in Brazilian insurer SulAmérica Seguros , which was sold at a later date. The actions were in line with EU demands to split the Group's banking and insurance operations as a condition of Dutch state aid. In 2013, ING reduced its stake in SulAmérica Seguros by 7.2%. On 12 June 2012,

3920-656: The German occupation. The evacuees included 80 per cent of Guernsey children who lived with relatives or strangers in Great Britain during the war. Most children returned home after the war ended in 1945. The occupying German forces deported over 1,000 Guernsey residents to camps in southern Germany, notably to the Lager Lindele (Lindele Camp) near Biberach an der Riß and to Oflag VII-C in Laufen . Guernsey

4018-504: The Netherlands of 1845") was founded. It grew to be the leading Dutch insurance company with branches outside the Netherlands (139 the world over by 1900). It later changed its name to "De Nederlanden van 1845". Two decades later, in 1863, the life insurance company Nationale Levensverzekerings Bank ("National Life Insurance Bank") was founded in Rotterdam. These two insurance companies made multiple acquisitions, and in 1963 merged to form

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4116-652: The Netherlands, ING is the largest retail bank by market share, holding 40% of current account deposits, and by total assets. ING is followed by Rabobank (30%), ABN AMRO (20%), and others (10%). ING Belgium is the Belgian subsidiary of ING Group. The bank was formerly known as Bank Brussel Lambert (BBL) which became part of ING Group in 1998. It provides retail and commercial banking services to individuals and businesses in Belgium, together with related financial products such as insurance and asset management. BBL

4214-555: The Netherlands, in processing US dollar payments and trade finance transactions through the United States. In addition, ING Bank's senior management in France authorised, advised in the creation of, and ultimately provided fraudulent endorsement stamps for use by Cuban financial institutions in processing travelers check transactions, which disguised the involvement of Cuban banks in these transactions when they were processed through

4312-646: The Royal Sanction at regular meetings of the Privy Council in London, after which they are returned to the islands for formal registration at the Royal Court . The States also make delegated legislation known as Ordinances ( Ordonnances ) and Orders ( ordres ) which do not require the Royal Assent . Commencement orders are usually in the form of ordinances. The Policy and Resources Committee

4410-809: The US Department of the Treasury's Office of Foreign Assets Control announced a US$ 619 million settlement with ING Bank N.V. to settle potential liability for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities. ING Bank settled at

4508-454: The US. ING Bank's Trade and Commodity Finance business at its Wholesale Banking branch in the Netherlands routed payments made on behalf of US-sanctioned Cuban clients through other corporate clients to obscure the sanctioned clients' identities and its Romanian branch omitted details from a letter of credit involving a US financial institution to finance the exportation of US-origin goods to Iran. Other notable activities: In 2013, ING U.S.

4606-433: The US. The EuroAsia IPO has been delayed while the US IPO is supposed to be completed by the end of 2012. Analysts estimate that the insurance arm is worth up to €16 billion. As of February 2009, ING Canada (the insurance arm) is no longer a subsidiary of ING Group. ING Group's 70% equity interest was spun off for US$ 2.2 billion. The company (which has an 11% share of Canada's property and casualty insurance market)

4704-511: The acquisition of ReliaStar and Aetna 's Financial Services unit. It also acquired the Polish Bank Śląski and Mexican insurance company Seguros Comercial América . The 1995 purchase of Barings Bank for one pound after its dramatic failure led to a boost in the company's investment banking business. Expanding its retail banking business overseas, ING used the direct banking business model it had developed with NMB Postbank to launch direct banking in other countries. The first of these

4802-495: The administration. Guernsey's Church of England parishes fall under the See of Canterbury , having split from the Bishopric of Winchester in 2014. The biggest parish is Castel, while the most populated is St Peter Port. Financial services, such as banking, fund management , and insurance, account for about 37% of GDP. Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, especially freesias , have been declining. Light tax and death duties make Guernsey

4900-423: The bank was negligent in preventing money laundering. Between 2010 and 2016, clients misused accounts at ING to launder hundreds of millions of euros. In February 2018, ING bought fintech company Payvision founded by Rudolf Booker for 350 million. As of 2022, ING operates in the following countries: Following the separation of ING Group into ING Bank and ING Insurance, the head office of ING Bank and ING Group

4998-405: The beginning of the 18th century, Guernsey's residents were starting to settle in North America, in particular founding Guernsey County in Ohio in 1810. The threat of invasion by Napoleon prompted many defensive structures to be built at the end of that century. The early 19th century saw a dramatic increase in the prosperity of the island, due to its success in the global maritime trade , and

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5096-419: The business district of Zuidas in Amsterdam , Netherlands from 2012 to 2014. It was designed by Roberto Meyer and Jeroen van Schooten ( Meyer en Van Schooten  [ nl ] ) and was officially opened on 16 September 2002 by then Prince Willem-Alexander of the Netherlands . In October 2008, in a move to increase its core Tier 1 capital ratio above 8%, ING Group accepted a capital injection plan from

5194-490: The buyout of the management company, in 2005, the Baring Vostok Private Equity Fund III was raised with total committed capital of $ 413 million. In February 2007, the firm completed fundraising for its fourth private equity fund. Baring Vostok raised $ 1.1 billion of investor commitments for its main fund Baring Vostok Private Equity Fund IV. Together with a parallel fund, Baring Vostok Fund IV Supplemental Fund, which raised over $ 300 million of capital, Baring Vostok's fourth fund

5292-434: The castle of St. Michael and to erect such other forts as were deemed necessary. Around the middle of the eleventh century, Guernsey was beset by a new breed of pirates who built a castle called Le Château des Sarrasins in the centre of the island near the present church of Catel; Duke William of Normandy (later the Conqueror) commissioned his Esquire Sampson d'Anneville to fight them. As a reward, in 1061 he received half of

5390-587: The company was trading under the name ING-DiBa. In November 2018, the bank changed its brand name to ING. Founded in 2001, ING in Italy has around 1.3 million customers. It is currently opening its own "bank shops" in the major towns, where customers can operate services on usual web channels, assisted or not by branch operators, and use advanced teller machines for cash and check transactions. Operates exclusively through mobile app. ING has two offices in Taguig, Metro Manila; World Plaza Building and Arthaland Century Pacific Tower. Mobile system started in 2019 prior to

5488-427: The competent legislature(s) – usually, but not always, the States of Guernsey. Guernsey has almost complete autonomy over internal affairs and certain external matters. However, the Crown – that is to say, the UK Government – retains an ill-defined reserved power to intervene in the domestic affairs of any of the three Crown Dependencies within the British Islands "in the interests of good government". The UK Parliament

5586-476: The continent ceasing, additional bureaucratic procedures come into force, including the need for international driving licences and green cards for vehicle insurance. Guernsey has ten parishes , which act as civil administration districts with limited powers. Each parish is administered by a Douzaine, made up of twelve members or more, known as Douzeniers. Douzeniers are elected for a four-year mandate, three, four or five Douzeniers being elected by parishioners at

5684-507: The firms represent over $ 12 billion in capital commitments as of the end of 2014. With offices in Moscow , the firm has raised over $ 3.7 billion across five investment funds . The firm’s name vostok is the Russian word for "east". Additionally, the Vostok spacecraft was the first manned spacecraft, operated by Russian cosmonaut Yuri Gagarin . The firms founder Michael Calvey and five colleagues were arrested in February 2019 for allegedly defrauding Russian businessman Artem Avetisyan who

5782-512: The formation of the First NIS Regional Fund. The fund was a joint venture between Baring Asset Management and Sovlink, a Russian-American merchant bank. Baring Bank’s ties to Russia traced back several centuries and Barings was the primary international bank for the Russian Emperors. The First NIS Regional Fund was originally managed by a team of investment professionals from Barings and Sovlink including current Baring Vostok senior partner Michael Calvey. With $ 160 million of investor commitments,

5880-426: The former channel became the town and harbour (from 1820) of St Sampson's , now the second biggest port in Guernsey. The western end of La Braye is now Le Grand Havre. The roadway called "The Bridge" across the end of the harbour at St Sampson's recalls the bridge that formerly linked the two parts of Guernsey at high tide. New roads were built and main roads were metalled for ease of use by the military. Infrastructure

5978-439: The fund ultimately returned $ 620 million to investors over the life of the fund. In 1997, Baring Vostok Capital Partners, became an affiliate of Baring’s BPEP International. Following the collapse of Barings Bank, the ownership of BPEP International was assumed by the Dutch bank ING Group . In 2001, the firm completed fundraising for the Baring Vostok Private Equity Fund. With $ 205 million of investor commitments, Baring Vostok’s

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6076-456: The group's Dutch origins. ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government. In 1991, the insurance branch of Nationale-Nederlanden and the banking branch of "NMB Postbank Groep" merged. NMB stands for "Nederlandsche Middenstands Bank". In 1845, the fire insurance company Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845 ("Fire Insurance Company of

6174-402: The instruction of senior bank management, ING Bank employees in Curaçao began processing payments for ING Bank's Cuban banking operations through its branch in Curaçao on behalf of Cuban customers without reference to the payments' origin. The practice of removing and omitting such information was used by other branches of ING Bank's Wholesale Banking Division, including in France, Belgium, and

6272-567: The insurance business of Nationale-Nederlanden were merged to create ING Group . Since the ING Group was founded, it has made many acquisitions: ING Group expanded its international business through several acquisitions through the 1990s including the Belgian bank Banque Bruxelles Lambert (BBL) in 1998, US-based insurance company Equitable of Iowa and the commercial bank Furman Selz . It also acquired Frankfurt-based BHF-Bank in 1999, although it disposed of this later. It increased its Latin American and Asia Pacific insurance businesses with

6370-446: The island has a land area of 24 square miles (62 km ). Guernsey was part of the Duchy of Normandy until 1204, when the Channel Islands remained loyal to the English crown, splitting from mainland Normandy. In 1290, the Channel Islands were divided administratively and Guernsey became part of the Bailiwick of Guernsey. During the Second World War , Guernsey was invaded and occupied by Nazi Germany . After five years of occupation,

6468-412: The island was liberated on 9 May 1945, that date being celebrated annually as Liberation Day . Guernsey is administered as part of the Bailiwick of Guernsey, a self-governing dependency of the British Crown . The island is thus not part of the United Kingdom , although the UK government has certain responsibilities for the Bailiwick. The British monarch is the head of state and the head of government

6566-452: The island's traditional language, Guernésiais . In addition, French writer Victor Hugo spent fifteen years in exile in Guernsey, where he wrote some of his best-known works. The island's name, "Guernsey", like that of neighbouring " Jersey ", is of Old Norse origin. The second element of each word, " -ey ", is the Old Norse for "island", while the original root, "guern(s)", is of uncertain origin and meaning, possibly deriving from either

6664-457: The islands remained part of the Kingdom of England. The islands were then recognised by the 1259 Treaty of Paris as part of Henry III 's territories. During the Middle Ages , the island was a haven for pirates that would use the "lamping technique" to ground ships close to the island. This intensified during the Hundred Years War , when, starting in 1339 , the island was occupied by the Capetians on several occasions. The Guernsey Militia

6762-444: The islands, and some sites have received Ramsar Convention designation. The tidal flows in the area are remarkable, owing to the flatness of the ground for nearly 32 km (20 mi) westward. Guernsey is the westernmost of the Channel Islands , and the jurisdiction is at the greatest distance from the coast of Normandy than any of the other islands. Guernsey's climate is temperate with mild winters and mild, sunny summers. It

6860-408: The islands, were placed by the French King Ranulf under the control of William I . The island of Guernsey and the other Channel Islands represent the last remnants of the medieval Duchy of Normandy . About the year 1030, the fleet of Robert, Duke of Normandy , which was to support the claim of his cousins Alfred and Edward to the English crown against Canute , was scattered by a storm, and

6958-409: The last shares in NN Group, making it exclusively a bank again. Since the largest settlement ever in the Netherlands by Vimpelcom in 2016, its house banker ING has also come under fire from the Public Prosecutor's Office. As a result of the Vimpelcom case, among others, it was announced in 2018 that ING reached a €775 million settlement with the Public Prosecutor's Office. According to the prosecution,

7056-423: The least with 58 hours recorded sunshine. Sea temperatures have been rising and now vary between 8 °C (46 °F) in February to 20 °C (68 °F) in August. Average wind speeds vary between 20 kilometres per hour (12 mph) and 40 kilometres per hour (25 mph) with gusts over 60 kilometres per hour (37 mph) every 4–5 years. Guernsey plans to reach carbon neutrality by 2050, according to

7154-612: The notorious Matrosskaya Tishina where Sergei Magnitsky died in custody. Later the shareholders entered into a settlement agreement and publicly stated that their shareholder dispute was not related to the criminal investigation. After signing the settlement agreement, Baring Vostok returned 2.5 billion rubles to Vostochny Bank. In August 2021, the court found the top managers of Baring Vostok guilty of embezzling Vostochny Bank's funds and sentenced them to suspended sentences. Since inception, Baring Vostok has invested over $ 2.4 billion in 67 companies. Baring Vostok founded by Michael Calvey

7252-681: The occupation. The tomato industry started up again and thrived until the 1970s when the significant increase in world oil prices led to a sharp, terminal decline. Tourism has remained important. Finance businesses grew in the 1970s and expanded in the next two decades and are important employers. Guernsey's constitutional and trading relationships with the UK are largely unaffected by Brexit . Situated in Mont Saint-Michel Bay at around 49°35′N 2°20′W  /  49.583°N 2.333°W  / 49.583; -2.333 , Guernsey, Herm and some other smaller islands together have

7350-430: The pandemic, and offered one of the highest interest rates for the first few months of operations. It was one of the first banks that allowed check deposits via image capture using a mobile phone. ING Wholesale Banking provides banking and financial services to corporations and other institutions. The primary geographic focus of the wholesale banking business is the Netherlands, Belgium, Poland and Romania, where it offers

7448-476: The peace between England and France, Pope Sixtus IV issued in 1483 a papal bull granting the "Privilege of Neutrality'", by which "the Islands, their harbours and seas, as far as the eye can see," were considered neutral territory. Anyone molesting Islanders would be excommunicated. A royal charter in 1548 confirmed the neutrality. The French attempted to invade Jersey a year later in 1549 but were defeated by

7546-423: The rise of the stone industry. Maritime trade suffered a major decline with the move away from sailing craft as materials such as iron and steel were not available on the island. Le Braye du Valle was a tidal channel that made the northern extremity of Guernsey, Le Clos du Valle, a tidal island . Le Braye du Valle was drained and reclaimed in 1806 by the British Government as a defence measure. The eastern end of

7644-619: The role of Attorney General ) and H.M. Comptroller (analogous to Solicitor General ), both appointed by the Crown and collectively known as the Law Officers of the Crown. A projet de loi is the equivalent of a UK bill or a French projet de loi , and a law is the equivalent of a UK act of parliament or a French loi . A draft law passed by the States can have no legal effect until formally approved by His Majesty in Council and promulgated by means of an order in council . Laws are given

7742-742: The same time with OFAC, the US Attorney's Office for the District of Columbia, the New York County District Attorney's Office and the Department of Justice's National Security Division and Justice's Asset Forfeiture and Money Laundering Section. Under the settlement agreement, ING Bank is required to conduct a review of, and to submit a report to the Treasury Department. Beginning in the 1990s, at

7840-652: The southwest of the island, while Castle Cornet was occupied by the Governor, Sir Peter Osborne , and Royalist troops. In December 1651, with full honours of war, Castle Cornet surrendered—the last Royalist outpost anywhere in the British Isles to surrender. Wars against France and Spain during the 17th and 18th centuries allowed Guernsey shipowners and sea captains to exploit the island's proximity to mainland Europe by applying for letters of marque and turning their cargo ships into privateering vessels . By

7938-431: The western part of the island under the title of Fief d'Anneville. Sampson attracted many emigrants from Normandy to settle on his feudal estate, and Duke William distributed lands in Guernsey to other Norman landowners, such as the estates of Sausmarez, Les Bruniaux de St. Martin, Mauxmarquis, Rohais, etc. Most of Guernsey was soon cultivated, and around this time the island was divided into ten parishes. Each free fief had

8036-557: The women. The burning of the infant was ordered by Bailiff Hellier Gosselin, with the advice of priests nearby who said the boy should burn due to having inherited moral stain from his mother. Later on, Hellier Gosselin fled the island to escape widespread outrage. During the English Civil War , Guernsey sided with the Parliamentarians . The allegiance was not total, however; there were a few Royalist uprisings in

8134-527: The €10 billion in state aid. It repurchased another €2 billion in May 2011 (at a 50% premium), and looked to complete the repayments by May 2012. However, in January 2012 it cited eurozone conditions in putting the repayment timetable as 2012–2013 for the remaining €3 billion. The final tranche of €1.025 billion was paid on 7 November 2014, half a year ahead of the repayment schedule as agreed with

8232-507: Was a subsidiary of Baring Private Equity International which was an affiliate of Barings Bank . In addition to Baring Vostok, the affiliates of BPEP International include Baring Private Equity Asia as well as Baring Private Equity Partners India, founded in 1984. BPEP International's Latin America affiliate is known as GP Investments , a leading private equity firm in Brazil. Collectively,

8330-819: Was at the time the largest private equity fund in Eastern Europe. In October 2012, the Baring Vostok Private Equity Fund LP V was raised with total committed capital of $ 1.15 billion, which was, at the time, the largest amount raised for a deal of this kind in Russia. On 2 September 2019, the Russian Commercial Court of the Amur Region , Russia, ordered the seizure of the 41.6% share of equity in Vostochny Bank controlled by Baring Vostok. The seizure

8428-592: Was called ING Barings, at which point it severed its ties with the Barings name and combined with ING's other wholesale banking operations. However, the top floor of ING's London office is still home to the famous Baring art collection, and the Baring Foundation, a charitable foundation. Wholesale Banking is divided into a number of sub-divisions, including Structured Finance, Financial Markets, Transaction Services and Corporate Finance. ING Wholesale Banking

8526-627: Was created in 1975 from the merger of Banque de Bruxelles and Banque Lambert . It made a 2021 profit of €948 million. ING has a 17% stake in the Bank of Beijing , the largest urban commercial bank in China. In Thailand, ING has a 30% stake in TMB Bank , a universal banking platform with a nationwide network. In 2013 ING announced intent to sell its stake in TMB bank. In Poland, the group in 1996 became

8624-568: Was driven down the Channel to Guernsey. The Duke was taken to St. Michael's Abbey. In gratitude for the abbot's hospitality, he gave all the lands within the Close of the Vale to the abbot forever as fief of St. Michael, with permission to extend this to the northwestern part of the island as soon as settlers could be found to clear and cultivate the land; and he gave them engineers and workmen to complete

8722-657: Was established in 1999 and is headquartered in Sydney, offering banking online and via telephone. Its products in Australia include transaction accounts, savings accounts, credit card, business accounts, term deposits, home loans and superannuation. Company operations are regulated by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission , Federal Government regulators. ING

8820-516: Was first mentioned as operational in 1331 and would help defend the island for a further 600 years. In 1372, the island was invaded by Aragonese mercenaries under the command of Owain Lawgoch (remembered as Yvon de Galles ), who was in the pay of the French king. Owain and his dark-haired mercenaries were later absorbed into Guernsey legend as invading fairies from across the sea. As part of

8918-862: Was funded by creating money debt-free starting in 1815. During the First World War , about 3,000 island men served in the British Expeditionary Force . Of these, about 1,000 served in the Royal Guernsey Light Infantry regiment formed from the Royal Guernsey Militia in 1916. From 30 June 1940, during the Second World War , the Channel Islands were occupied by German troops . Seventeen thousand people from Guernsey's total population of 41,000 were evacuated to England before

9016-490: Was requested by Vostochny and, according to the court, it was necessary to prevent Baring Vostok selling shares in Vostochny before a court decision was reached in continuing litigation over alleged embezzlement by Baring Vostok executives. Guernsey in the Bailiwick of Guernsey  (red) Guernsey ( / ˈ ɡ ɜːr n z i / GURN -zee ; Guernésiais : Guernési ; French : Guernesey )

9114-471: Was set up in Canada in 1997, and was soon followed in several other countries including the US, UK, Germany, Spain, Italy, France and Australia. In 2008, as part of the 2007–2008 financial crisis , ING Group, together with many other major banks in the Netherlands, took a capital injection from the Dutch Government. This support increased ING's capital ratio above 8%, however as a condition of Dutch state aid,

9212-625: Was spun off in an initial public offering ahead of its planned rebranding as Voya Financial . As of 2014, ING Group is no longer the controlling shareholder of its former subsidiary, owning 47% of its shares. Separate to ING Direct businesses, ING offers retail banking services in Australia, Austria, Belgium, Czech Republic, Germany, Poland, Italy, Luxembourg, Netherlands, Romania, Spain, Turkey and Philippines. Non-retail private banking services are offered in Netherlands, Belgium, Luxembourg, Switzerland and various countries in Asia and Central Europe. In

9310-618: Was the Amsterdamse Poort building. ING's corporate head office is situated in Cumulus Park, Amsterdam's innovation district in the south-east of the city. The five-storey building has a glass facade and is named after the Cedar tree, symbolising sustainability and growth. Its framework, with its layered branches and open spaces in between, is characteristic of a Cedar. ING House was the head office of NN Group and located in

9408-622: Was the discovery of a wreck of a ship in St Peter Port harbour , which has been named Asterix . It is thought to be a 3rd-century Roman cargo vessel and was probably at anchor or grounded when a fire broke out. Travelling from the Kingdom of Gwent , Saint Sampson , later the abbot of Dol in Brittany , is credited with the introduction of Christianity to Guernsey. In 933, the Cotentin Peninsula , including Avranchin , which included

9506-613: Was the first foreign private equity fund raised in the aftermath of the 1998 Russian financial crisis . In May 2004, BPEP International completed a management buyout from ING Group , which resulted in Baring Vostok's partners purchasing ownership of its management company. At the same time, the firm's affiliates in Asia, India and Latin America completed similar buyouts of their respective firms. These companies subsequently continued their affiliation although each firm retained full ownership of their respective businesses. Following

9604-424: Was very heavily fortified during World War II , out of all proportion to the island's strategic value. German defences and alterations remain visible, particularly to Castle Cornet and around the northern coast of the island. Guernsey and Jersey were both liberated on 9 May 1945, now celebrated as Liberation Day on the two islands. During the late 1940s, the island repaired the damage caused to its buildings during

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