ING reshuffle as CIO departs

INGInvestment Management chief investment officer Geoff Martin will step down from his role at the end of the year and be replaced indirectly by an increase in responsibility for two existing senior investment staffers.

Martin, who has been with the investment management arm of ING for 12 years, will maintain his association with the group through assisting in the company’s marketing activities for both retail and institutional clients.

He will also act in an advisory capacity for the investment team, via participation in the group’s asset allocation and private capital investment committees.

As part of the reshuffle, effective as of January 2004, present investment strategist Eric Siegloff will assume the new position as head of asset allocation and investment strategy.

His responsibilities will be expanded when he becomes chair of the group’s asset allocation committee, taking on all tactical asset allocation and foreign currency hedging decisions.

Head of quantitative research Michael Price will assume a newly created position as head of investment process, expanding upon his existing responsibilities in driving quantitative research.

Price will have responsibility for ensuring investment processes and procedures are adhered to, and will also lead any investment strategy enhancements.

All asset class heads, including Siegloff and Price, report directly to ING chief executive officer Grant Bailey.

Bailey says the changes to roles and responsibilities have been assisted by the ability to draw upon the depth of the existing investment team who are capable of assuming wider responsibilities.

“They will ensure we maintain continuity across investment teams, processes and delivery of quality services to clients,” Bailey says.