People Moves

ING Poaches Asian Fund Chief From Alliance Trust

Tom Burroughes, Deputy Editor, London, 10 July 2008

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ING, the global financial services group, has hired Alliance Trust's chief executive to head its Asian fund arm, filling a vacancy created in January when ING's previous
Asia fund chief was poached.

The firm said Alan Harden would take up the role of chief executive of ING Investment Management Asia/Pacific by the end of the year. London-listed

Alliance was quoted as saying that Mr Harden's resignation would take effect from a date in the autumn "yet to be agreed".

Mr Harden was hired as chief executive of Scotland-based

Alliance in 2004. Developments during his tenure included recruiting Katherine Garrett-Cox as chief investment officer and the growth of its financial services business.

ING said before this Mr Harden spent more than 20 years in Asia and the
Middle East working for Standard Chartered and several investment management firms, including three and a half years as the Asia Pacific regional head of Citigroup Asset Management.

Mr Harden would also be appointed to ING Investment Management's global management board and become a member of ING Group's management council, the firm said.

He will be based in
Hong Kong and report to Hans van der Noordaa, head of ING Insurance Asia/Pacific.

The appointment fills a vacancy created when the former head of ING's Asia Pacific fund operations, Chris Ryan, was poached by rival Fidelity International in January. ING said in January that Eddy Belmans, its regional general manager for
North Asia, had been appointed interim chief executive.

ING is one of the region's largest investment managers, operating in 13 Asia-Pacific markets. It said earlier this year, before the major slide in equity markets, that the unit had more than €100 billion ($157.4 billion) of assets under management.

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