Valerie Brown Named President of ING Retail Annuities; Patrick Yung Becomes
Unit's Chief Marketing Officer
WEST CHESTER, Pa., May 16 /PRNewswire/ -- ING (NYSE: ING) has announced
that Valerie Brown has been named president of the ING Retail Annuity Market
Segment, part of the company's Wealth Management business group.
Concurrently, the company appointed Patrick Yung as chief marketing officer of
the Retail Annuity business unit.
In her new role, Ms. Brown is responsible for the company's Retail Annuity
profit & loss, which includes responsibility for annuity operations for all
retail annuity product lines, product development and product management,
legal, compliance and marketing. ING Retail Annuity had new sales of more
than $10.7 billion in 2007 and more than $50 billion in assets under
management as of December 31, 2007. She reports to Kathleen Murphy, chief
executive officer of ING U.S. Wealth Management, a leading provider of mutual
funds and investment services, retirement plans, and retirement income
solutions.
Brown previously was executive vice president of ING U.S. Retail Annuity
and Wealth Management, responsible for operations, product management,
marketing and legal, while also guiding the strategy for ING's then newly
organized Wealth Management platform. Before that, she had served as
president of ING Advisors Network, where she helped lead the Network's four
independent broker-dealers to four years of record revenue and earnings.
Before joining ING Advisors Network, Ms. Brown served in Amsterdam as
chief of staff for ING Group's Executive Committees, Americas and
Asia/Pacific. Within ING Americas, she has served as president and chief
executive officer, ING Life Direct; executive vice president, Branding;
president and chief executive officer, ING Medical Risk Solutions; and
executive vice president, Strategic Marketing and Management Development. She
is a graduate of Oregon State University and has an MBA from Stanford
University.
Additionally, ING Retail Annuities recently named Patrick Yung as the new
chief marketing officer for the business. Mr. Yung will have overall
management and creative responsibility for all aspects of marketing and
communications, supporting product development, marketing compliance
activities, and ING's investment platform.
Yung joins ING from ConnectiCare Inc., where he was vice president of
marketing and chief of staff with full responsibilities for all aspects of
marketing, product development and product management. While in that role,
Yung helped ConnectiCare significantly grow revenues and earnings while
tripling the size of the retail insurance business. Prior to joining
ConnectiCare, Yung worked at UnitedHealth Group as vice president of
distribution and account management, after several increasingly responsible
positions at that company. While at UnitedHealth, he started the marketing
and business development group for the enterprise and led the launch of the
company's consumer driven health business. He served as chief of staff to the
chief marketing officer at CIGNA Healthcare before that, and he began his
career at Deloitte and Touche in the financial services and insurance practice
managing key national accounts. Yung is a graduate of the University of
California at Santa Barbara and has an MBA from The Wharton School at the
University of Pennsylvania.
ING Annuities offers a broad range of fixed and variable annuities for
pre-retirement wealth accumulation and post-retirement income management, sold
though investment professionals.
Variable annuities are long-term insurance contracts designed for
investing for retirement. They offer the opportunity to allocate premiums
among fixed and variable investment options that have the potential to grow
income tax-deferred, until an income stream begins. Annuity income is defined
as a series of periodic payments, a part of which may be return of your
premium or principal, which is guaranteed by the issuing insurance company for
a specified period of time or for the life of the annuitant. Optional
benefits and riders are available for an additional cost. Variable insurance
products are subject to investment risk, are not guaranteed and will fluctuate
in value. In addition, there is no guarantee that any variable investment
option will meet its stated objective.
Annuities are issued by ING USA Annuity and Life Insurance Company (Des
Moines, IA) and ReliaStar Life Insurance Company of New York (Woodbury, NY).
Variable Annuities are distributed by Directed Services LLC. Only ReliaStar
Life Insurance Company of New York is admitted, and its products offered, in
the state of New York. All are members of the ING family of companies. Note:
All guarantees are based on the financial strength and claims paying ability
of ING USA Annuity and Life Insurance Company, which is solely responsible for
all obligations under its policies.
You should consider the investment objectives, risks and charges, and
expenses of the variable annuity and its underlying investment options
carefully before investing. The prospectuses for the variable annuity and
underlying investment options contain this and other information. You may
obtain free prospectuses by calling your financial professional or
800-366-0066. Please read the prospectuses carefully before investing.
In the U.S., the ING family of companies offer a comprehensive array of
financial services to retail and institutional clients which include life
insurance, retirement plans, mutual funds, managed accounts, alternative
investments, direct banking, institutional investment management, annuities,
employee benefits, financial planning, and reinsurance. ING holds top-tier
rankings in key U.S. markets and serves over 14 million customers across the
nation.
ING is a global financial institution of Dutch origin offering banking,
insurance and asset management to more than 75 million private, corporate and
institutional clients in more than 50 countries. With a diverse workforce of
over 120,000 people, ING comprises a broad spectrum of prominent companies
that increasingly serve their clients under the ING brand.
For more information, visit www.ing.com
SOURCE ING U.S. Financial Services
Chuck Eudy of ING U.S. Financial Services, +1-770-980-5209, +1-770-490-6420
(mobile), chuck.eudy@us.ing.com
