ING U.S. Financial Services Names Harry N. Stout to Lead U.S. Annuity Business Group
ING U.S. Financial Services announced Harry N. Stout has joined the company as president of the Annuity Business Group, a unit of the company’s retail financial services unit. Stout brings more than 25 years of accounting, insurance and financial services experience, as well as strong leadership and management skills, to ING. Based in West Chester, Pa., Stout will oversee annuity distribution, product management, and actuarial and financial management of ING’s $48.6 billion U.S. annuity business (assets under management, as of Sept. 30, 2004). Stout began work this week and reports to Jacques de Vaucleroy, group president for ING’s U.S. Retail Financial Services.
"Harry has a strong working knowledge of annuity and insurance products, services and markets,” said de Vaucleroy. “He has left his mark on the businesses he’s managed through the years, and we look forward to seeing the breadth of his experience help propel ING’s annuity business to the next level of competitiveness and growth."
Stout joins ING from Old Mutual U.S. Life Holdings, Inc. where he was deputy chief executive and was previously president and chief executive officer of Fidelity and Guaranty Life Insurance Company. In his over 10 years there, Stout demonstrated strong leadership in building the company’s businesses, including its presence in the annuity market. Stout also served in executive leadership roles with Fidelity and Guaranty Life’s parent companies, including St. Paul Companies and Old Mutual U.S. Life Holdings, Inc., and prior to that he gained extensive experience in sales and marketing with United Pacific Life Insurance Companies.
Stout has also recently served a two-year term on the board of directors of the Insurance Marketplace Standards Association.
Stout is a native of southern New Jersey and a business graduate of Drexel University, Philadelphia, Pa.
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ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 112,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand. In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation. For more information, visit www.ing.com