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Old Mutual Alum To Run ING Annuity Unit

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NU Online News Service, Nov. 23, 2004, 4:04 p.m. EST

The U.S. arm of a Dutch financial giant is hiring an executive who has worked for the U.S. arm of a British financial giant.[@@]

ING U.S. Financial Services, Atlanta, has brought in Harry Stout to be president of its annuity business group, which manages $49 billion in assets.

Stout, who will be based in West Chester, Pa., has been deputy chief executive at Old Mutual U.S. Life Holdings Inc., Baltimore, an American subsidiary of Old Mutual P.L.C., London.

ING U.S. is an arm of ING Groep N.V., Amsterdam.

Stout is a graduate of Drexel University and a former member of the board of the Insurance Marketplace Standards Association, Washington.