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Thursday, June 11, 2009

ING Brings a Nuveen Vet on Board

by: Armie Margaret Lee

ING Investment Management hired Nuveen Investments alum Michael Forstl as vice president of business development. He reports to Jake Tuzza, senior vice president and head of business Development.

Forstl's post is new, according to an ING spokesperson. His addition brings the number of people in the business development team to 10.

Forstl joined ING last week and is responsible for relationships with major financial institutions that distribute ING's mutual funds, separate accounts and other products.

He founded Strategic Intro, a distribution development consulting firm, and before that, spent 20 years at Nuveen, where he took on roles including managing director of the global structured products group and managing director of Nuveen advisor consulting services.
Company Press Release

New York, June 10, 2009 -- ING Investment Management Americas today announced that it has hired Michael Forstl as Vice President of Business Development. In this position, Forstl will be responsible for relationships with major financial institutions which distribute the firmís wide array of investment solutions that includes mutual funds, separate accounts, offshore funds, closed-end funds, structured products and sub-advisory services.

"Our firm continues to place significant importance on having strong relationships with major financial institutions that distribute our various investment solutions," said Jake Tuzza, Senior Vice President and Head of Business Development for ING Investment Management. "We are committed to serving our clients and to offering the products and services that best meet their investment needs. Michael's deep industry relationships and diverse background marketing, developing and distributing financial products make him an ideal choice for our team as we seek to grow our customer relationships."

Forstl, who has 25 years of financial industry experience, was founder of Strategic Intro, a distribution development consulting firm. Prior to that, he spent 20 years with Nuveen Investments where he held numerous senior positions. Most recently, he served as Managing Director of Nuveenís global structured products group and, before that, as Managing Director of Nuveen Advisor Consulting Services overseeing distribution in the Eastern Division. Earlier in his career, Forstl was Managing Director of Nuveen's Financial Institutions group responsible for business development, sales and marketing. Forstl started at Nuveen in 1989. Forstl received a BA in Economics from the University of Georgia and holds a CIMA designation.

"It is very exciting to join ING Investment Management at this time," said Forstl. "This is a world-class organization that offers a wide breath of products on a global platform. I look forward to utilizing my relationships and experience in helping to strengthen and grow ING's strategic relationships with major financial institutions."

Tuzza indicated that the firm is building its business development team at a time when investors are increasingly seeking advice and re-assessing their portfolios in light of the recent market turbulence. In another expansionary move earlier this month, the firm hired Jonathan Golub as Chief Market Strategist to work with clients by providing market and economic insights as well as investment ideas.

About ING Investment Management

ING Investment Management is the primary investment arm of ING Group and one of the largest global investment managers with over $500 billion in assets under management across more than 30 countries. ING Investment Management's broad array of investment strategies, combined with ING Groupís distribution capabilities across retail and institutional channels, enables the organization to offer an integrated financial services solution for all of its clients around the world. In the Americas, ING-IM manages over $224 billion with offices in the U.S., Canada and Latin America.

About ING

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 125,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
 

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