ING has appointed Valerie Brown as the new president of its retail annuity market segment, part of the company's wealth management business group.

In her new role, Ms Brown will be responsible for the company's retail annuity profit and loss, which includes responsibility for annuity operations for all retail annuity product lines, product development and product management, legal, compliance and marketing. She will report to Kathleen Murphy, chief executive of ING US Wealth Management.

Previously, Ms Brown was the executive vice president of ING US retail annuity and wealth management while also guiding the strategy for ING's then newly organised wealth management platform.

ING has also hired Patrick Yung as the new chief marketing officer for the retail annuities business. He will have overall management and creative responsibility for all aspects of marketing and communications, supporting product development, marketing compliance activities and ING's investment platform.

Mr Yung joins ING from ConnectiCare, where he was vice president of marketing and chief of staff with full responsibilities for all aspects of marketing, product development and management.