ING Groep N.V. has named Valerie Brown to be chief executive of the ING Advisors Network.
Brown succeeds John Simmers, who retired in April, according to ING, Amsterdam.
Brown previously was president of the ING retail annuities market segment.
ING Advisors Network, El Segundo, Calif., is an independent broker-dealer network. Units include Financial Network Investment Corp., ING Financial Partners Inc., Multi-Financial Securities Corp. and PRIMEVEST Financial Services Inc.
In related news, ING has hired Michael Smith to be ING the chief financial officer and chief insurance risk officer for the U.S. annuity business.
Smith will help oversee ING’s shift to simpler, lower-cost annuity products, the company says.
Smith previously was head of profitability and risk management at the retirement solutions arm of Lincoln National Corp., Radnor, Pa.
Smith has a bachelor’s degree from the University of Michigan in 1985. He is a fellow of the Society of Actuaries and holds the Chartered Financial Analyst professional designation.
He also has served on committees at the American Council of Life Insurers, Washington; the American Academy of Actuaries, Washington; and the Society of Actuaries, Schaumburg, Ill.
In other personnel news: