Deals & People May 12, 2009

ING Advisors Network Announces Brown as CEO

As ING Advisors Network considers what to do with its group of broker/dealers, Valerie Brown was named new CEO.

Reported by

She replaces John Simmers, who retired in April. Brown had been president, ING Retail Annuities Market Segment and was president of ING Advisors Network from 2002 through 2007 before moving to ING’s annuity business. Brown previously served in a variety of executive roles during her ING career.

“The role of the trusted, independent financial professional is more important today than ever before,’ Brown said, in a news release. “Although ING Advisors Network is currently going through a comprehensive strategic review, the Network remains committed to providing exceptional service to its registered representatives. Furthermore, I am committed to developing a long-term strategy that allows our registered representatives to build and grow their businesses effectively.”

The network of independent broker/dealers has four broker/dealers—Financial Network Investment Corporation; ING Financial Partners, Inc.; Multi-Financial Securities Corporation; and PRIMEVEST Financial Services, Inc.—and more than 7,000 advisers. ING has reportedly been considering selling off components of its broker/dealer channel.