ING Americas Names Carlos Muriel Chairman and CEO of Latin America Insurance and Pension Operations
ING Americas announced today that Carlos Muriel, 47, has been named chief executive officer (CEO) and president for its insurance and pension operations in Latin America, effective Jan. 1, 2008. Muriel will replace Robert Crispin, 61, who recently announced his retirement from ING as chairman and CEO, ING Investment Management and Latin America, effective at the end of 2007.
Muriel, who is currently chairman and CEO of ING Mexico and is based in Mexico City, will oversee ING’s growing insurance and pension operations in Brazil, Chile, Colombia, Mexico, Peru, and Uruguay. As a member of the ING Americas executive leadership team, Muriel will report to Tom McInerney, ING Executive Board member, chairman and chief executive officer, ING Insurance Americas.
“Latin America is an important region of the world for ING Group because it has an attractive growth profile that aligns with ING’s global strategy to build scaled and sustainable leadership positions in the wealth accumulation and insurance businesses of emerging markets,” McInerney said. “With Carlos’ proven track record in Mexico, we believe that he is the right candidate to execute and expand ING’s ambitious growth strategy for Latin America.”
Muriel became chairman and CEO of ING Mexico in 2005 where he is responsible for ING’s life and non-life insurance and retirement services business lines. Prior to joining ING Mexico, Muriel was managing director for ING Financial Markets LLC in New York where he was responsible for the Financial Markets operations for the Americas. He originally joined ING in 1996 as country manager, ING Wholesale in Mexico City. ING has not yet announced a replacement for Muriel in Mexico.
“I welcome the challenge of leading ING’s expanding operations in Latin America,” Muriel said. “With strong positions in ING’s key wealth accumulation and insurance growth engines; experienced business leaders across the region; a recognized global brand; plus a willingness to actively invest in Latin America, ING is very well positioned for growth throughout the region.”
Dana E. Ripley, 770.980.4865 or 404.788.9624 (cell) or firstname.lastname@example.org
ING is a global financial institution of Dutch origin offering banking, insurance and asset management to more than 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 120,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
In the Americas, ING employs 28,000 people and has operations in the United States, Canada, Mexico, Brazil, Chile and Peru, where ING offers a range of wealth accumulation and asset management products and participates in the pension, life, annuity, health, auto and property & casualty insurance businesses.
On July 26, ING announced today that it had reached an agreement with Santander to acquire its Latin American pension businesses. The mandatory pension fund management companies (AFPs), which are located in Mexico, Chile, Colombia, and Uruguay will make ING the second largest pension fund manager in Latin America. The transactions are subject to various national regulatory approvals and are expected to close during the end of 2007 and in early 2008.
For more information, visit www.ing.com.