ING Investment Management is looking to hire a global head of consultant relations, a new position for the firm. The search comes three months after the firm's parent, ING Group, announced that it was splitting up its banking and insurance operations, and considering initial public offerings and divestitures of its various units.
Dana Ripley, a spokesman for ING, confirmed that the new position has been created at the investment management unit. “This shows our commitment to the institutional market,” Mr. Ripley said. ING has tapped David Barrett Partners to conduct the search, he added.
Industry observers, however, wonder if the creation of the position indicates that ING is opting to go the IPO route with its investment management business. “Apparently, they are going to do an IPO over selling it,” one industry insider said. The source claims to have heard about the stock offering from people within and outside of the firm, but asked not to be identified.
Mr. Ripley declined to comment on any speculation about the fate of the firm.
Jessica Toonkel Marquez is a reporter at InvestmentNews, a sister publication of Pensions & Investments