Feb 20 The head of institutional distribution at
ING U.S. Investment Management, one of the core U.S. businesses
of Dutch bank and insurer ING Groep NV, has left the
firm after less than two months in his role.
Greg Tencza, who ING said joined the firm in early January,
was in charge of overseeing the institutional business for ING
U.S. Investment Management, a division of ING U.S. Inc. He was a
member of the management committee and reported to Shaun
Mathews, head of the client group.
An ING spokesman confirmed the departure but declined to
Prior to joining ING, Tencza spent more than a decade at
AllianceBernstein, where he held a number of senior positions,
most recently as global co-head of institutional and
ING U.S. Inc, which filed for an initial public offering in
November, also recently lost its former president and chief
operating officer, Robert Leary, who left the firm in September
prior to the IPO announcement.
ING U.S. in November filed to raise up to $100 million in an
IPO amid efforts by its Dutch parent to comply with a European
Union mandate to split its businesses.
ING Groep received a 10 billion euro ($13.37 billion)
capital infusion from the Dutch government in 2008 and has been
selling assets to repay the bailout.