Michael Smith to Join ING as Chief Financial and Chief Insurance Risk Officer of U.S. Annuity

ING announced today that Michael Smith will join ING as the chief financial officer and chief insurance risk officer for the U.S. Annuity business. In this role, he will be responsible for all financial and actuarial functions in ING U.S. Annuity.

ING recently announced a transition of its current Retail Annuity business. Later this year, it will introduce simpler, lower-costs products with a strong focus on the fast-growing IRA rollover market.

"Mike brings a wealth of experience and success to this position. His strong leadership in this critical function will serve a vital role as we embark on our new strategic direction for our annuity business," said Bill Lowe, CEO of ING U.S. Annuity.

Smith joins ING after more than 21 years at Lincoln Financial Group, where he most recently held the role of head of profitability and risk management for Lincoln Retirement Solutions. He has held numerous positions during his tenure at Lincoln including chief financial officer and chief risk officer at Lincoln Life and Annuities as well as chief actuary of Lincoln National Life.

Smith earned a bachelor's degree from the University of Michigan in 1985. He is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries and a CFA Charterholder. He has been active within the industry, having served on several committees of the American Council of Life Insurers (ACLI) and the Academy and Society of Actuaries.

Smith is active in the Philadelphia community, and serves on the boards of Covenant House-PA, an organization serving the needs of homeless youth, and Singing City, an arts organization that bridges diverse communities through music.

Smith joins ING on May 18. He will report to division CEO Bill Lowe and be based in the company's West Chester, Pa., location.

ING is a global financial institution of Dutch origin 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.

In the U.S., the ING (NYSE: ING) family of companies offer a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 29 million customers across the nation. For more information, visit www.ing.com/us.

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SOURCE: ING

CONTACT: Philip Margolis of ING, +1-860-580-2676,
phil.margolis@us.ing.com

Web Site: http://www.ing.com/us