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Rating:ING Cuts 135 from its Asset Management Staff Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, January 29, 2009

ING Cuts 135 from its Asset Management Staff

by: Armie Margaret Lee

ING slashed about 135 jobs from its U.S. asset management division as part of broader cuts the Dutch insurer is implementing, ING spokeswoman Tracey Gordon confirmed to The MFWire.

The cuts at the asset management unit were first reported by Morningstar's Ryan Leggio reports.

The layoffs included some senior executives such as chief investment officer Frederic Nelson, head of fixed income Jim Kauffmann and head of quantitative equities Omar Aguilar.

ING plans to cut a total of 7,000 jobs this year. 

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