About

Chief Legal Counsel Çiğdem Dayan leads the 26-strong legal team at the Turkish subsidiary of ING, a Dutch multinational banking and financial services corporation focused primarily on consultancy and litigation services. In recent years they have overcome changes in legislation such as the Turkish Commercial Law and Turkish Law of Obligations which made a huge impact on the process of legally engaging with clients. Dealing with the relicensing of banks due to Capital Market Board (CMB) requirements was a milestone in its financial markets business: after a root and branch review of its organisation and operations the team was integral to changing ING’s standard format documentation and procedures in order to achieve full compliance with the legislation. By leading the project team, with the involvement of business and with close interaction with the CMB, the department successfully obtained new licences, one of the first three banks to do so. This high-speed turnaround was crucial to allowing ING to operate in a broader way, giving it a competitive advantage over others in the market. Adding to its reputation as an expert compliance function, the team can be commended for aligning the business with European Union legislation, as well as extra territorial laws and regulations such as the Foreign Account Tax Compliance Act (FACTA), with common reporting standards considered while drafting local legal documentation. As Dayan, notes: ‘Getting aligned with global understanding by considering local legal legislation required a strong business perspective as well as legal experience. However, very proudly, the team has also signed a success for these’. A pioneer in the market by solving legal disputes by way of mediation, the team is open to changes and seeking effective new solutions; all the in-house lawyers in the team have at least five years of professional experience as licensed mediators, a valuable commodity for any company when faced with litigation.