HONG KONG Oct 11 ING Investment Management's
Asia Pacific Chief Executive Officer Grant Bailey is leaving the
company, Bailey said on Thursday.
Bailey's departure comes as ING is engaged in advanced talks
to sell its Asian investment management business as part of the
Dutch financial services firm's strategy of divesting assets.
"I will be leaving the company in due course," Bailey told
Reuters, adding that he was leaving for personal reasons.
AsianInvestor, which first reported the news, said Bailey's
departure comes as negotiations between Ameriprise Financial Inc
and ING over sale of its Asian investment management
business broke down.
Bailey declined to comment on the talks. An external
spokeswoman for Ameriprise declined to comment.