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ING To Combine Locust Street, Washington Square

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NU Online News Service, Sept. 5, 2003, 4:32 p.m. EDT – ING Advisors Network, Atlanta, says it will combine two of its broker-dealers, Locust Street Securities Inc. and Washington Square Securities, in January 2004.

The combined broker-dealer will operate under the name ING Financial Partners Inc., ING Advisors says.

ING Advisors, a unit of ING Groep N.V., Amsterdam, has picked Karl Lindberg, the president of Locust Street, to be chief executive of ING Financial Partners.

ING Advisors will be using ING Financial Partners to reach out to financial advisors who want to promote their ties with ING, ING Advisors says.

ING Advisors says it will be using other broker-dealer units to reach out to advisors who would prefer to play down their affiliation with ING.