ING US Financial Services part of Amsterdam-based ING Group has created two new business divisions. US Wealth Management is focused on long-term retirement savings, retirement income, and comprehensive financial planning. US Insurance, is focused on risk protection, wealth preservation and risk management. Kathleen Murphy has been appointed chief executive officer of US Wealth Management. The business will include ING's 401(k), 457, and 403(b) defined contribution businesses, its rollover/payout business, plus its retail annuity business, and one of the industry's largest independent broker/dealer network. The US Insurance business is to be led by Catherine Smith, and includes ING's life insurance, employee benefits, and group reinsurance businesses.