Deals & PeopleJuly 29, 2009

ING Keeps Leadership Intact Following McCarthy Departure

<p>Following the recent departure of Sandy McCarthy as president of Institutional Plan Services, ING said it has further streamlined its Retirement Services structure, while ensuring the institutional businesses remain focused under their current leadership model.</p>

Reported by Rebecca Moore

According to a press release, Wayne Finnegan will continue to lead large corporate defined contribution and Brian Haendiges will continue to lead large corporate defined benefit, both reporting to Richard Mason, head of Corporate Markets for ING US Retirement Services. Bill Jasien will continue to lead the government business, reporting to Brian Comer, head of Health, Education & Government Markets for ING US Retirement Services.

ING made the announcement as it marked the one-year anniversary of its acquisition of CitiStreet LLC in a $900 million deal that expanded ING’s footprint in the retirement industry (see “CitiStreet Sold to ING for $900 Million ”).

McCarthy was a member of the founding executive team of CitiStreet and was president and a member of the board of directors at the time of CitiStreet’s acquisition by ING. She will join Mercer as Retirement Business Leader for its U.S. outsourcing business, effective August 10 (see “McCarthy to Head Mercer’s Retirement Biz ”).