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October 30, 2009 (FinancialWire) -- Dutch banking and insurance group ING (NYSE: ING | Quote | Chart | News | PowerRating) has named Rob Leary as chief executive officer of its U.S. insurance arm. He was previously CEO of ING Investment Management, Americas.
Leary's appointment as CEO follows ING's recent move to name Tom McInerney, who is currently CEO ING Insurance Americas, as chief operating officer of ING Insurance.
Under a new company structure, Leary will be one of six global insurance/investment management CEOs reporting to McInerney. On October 26, ING said it would sell its insurance and investment management businesses to focus solely on banking.
The company was under pressure from the European Commission to make such a move after it received over euro 10 billion in state aid from the Dutch government.
In his prior role as CEO of ING Investment Management, Americas, Leary was responsible for all of the company's investment management operations in North and South America.
ING is a financial institution offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. The company has a workforce of about 110,000 people.
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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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