ING has hired James Carroll to be its new head of research and strategy in Taiwan. Carroll comes from Indosuez WI Carr where he resided only a few months before it went to the wall. Prior to that he was the head of research and strategy at ABN AMRO in Taiwan.

Carroll brings with him over ten years of experience conducting research in Taiwan. In his time he has covered the foundry, technology, systems, components, bank and petrochemical sectors. In his time at ABN AMRO, he was "Institutional Investor's" number one ranked analyst for Taiwan. "We are extremely excited to bring him on board," says Sheel Kohli, spokesman for ING in Hong Kong, commenting on the hire.

Alongside carroll, Dominic Grant and Nora Hou are also joining ING in Taiwan. Grant joins from Merrill Lynch he was a telecoms analyst. He has been researching the telecoms industry for nine years in Taiwan. Prior to Merrill he was with Peregrine and SG Warburg.

Hou joins ING as a banks analysts. She is the second analyst in as many weeks to join ING from CLSA. Carroll, Grant and Hou will all report to ING's recently appointed head of Asian reseach, Adrian Faure.

With these recruits, ING has now added 23 new senior professionals to its Asian equity team this year. Internally, people at the bank believe that the current spate of scandals surrounding US investment banks' equity and research divisions are throwing up huge opportunities for the more independent European houses to grab market share.