NU Online News Service, May 2, 1:07 p.m. – The ING Groep N.V., Amsterdam, is folding the ING Aeltus Group unit into another unit, ING Investment Management.

Tom Balachowski, the chairman of ING Investment Management, will run the combined operations.

Edmund Hajim, the chairman of ING Aeltus Group, “will retire from the company this summer,” ING says.

But ING says two big ING Aeltus divisions will continue to operate under their current managers.

Robert Crispin, the manager of ING Investment Management U.S., Atlanta, will still run that unit.

J. Scott Fox, the manager of Aeltus Investment Management, Hartford, a company acquired from Aetna Inc., will still run Aeltus, ING says.

Mike Delfino will run ING Managed Accounts and Furman Selz Capital Management, which are both based in New York.

Paul Gyra will run ING’s New York-based hedge fund unit, ING Alternative Assets.