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.
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.