Kathy Murphy, CEO, ING US Wealth Management, Named to FORTUNE Magazine's "50 Most Powerful Women in Business" List
Kathleen (Kathy) A. Murphy, chief executive officer, ING US Wealth Management, has been named one of the “50 Most Powerful Women in Business” by FORTUNE magazine. Murphy is ranked number 40 in her debut on the prestigious list. ING US Wealth Management is part of Amsterdam-based ING Group, which is ranked number 13 on the FORTUNE Global 500 list.
“We are proud of Kathy for this recognition, and we are equally proud of ING for establishing a global work environment that embraces and encourages diverse leadership,” said Tom McInerney, ING Executive Board member, chairman and CEO, ING Insurance Americas. “Kathy is an outstanding leader and has an exceptional vision for ING’s Wealth Management operations, but more importantly, Kathy is a role model for other future leaders within ING to emulate.”
FORTUNE ranks the women based on both quantitative and qualitative criteria. FORTUNE factors in the size and scale of the businesses the women manage, but also the individual’s career progression and other milestones.
ING’s US Wealth Management business includes ING’s 401(k), 457, and 403(b) defined contribution businesses, its Rollover/Payout business, plus its Retail Annuity business. ING’s Retirement Services and Retail Annuity businesses totaled $158 Billion in assets under management as of Dec. 31, 2006. Murphy is also responsible for ING’s broker/dealer network, which is one of the largest independent broker/dealer systems in the country with more than 8,800 registered representatives. ING US Wealth Management achieved pre-tax operating earnings in 2006 of $947 million. From 2004 to 2006, ING US Wealth Management had a compound annual growth rate (CAGR) of approximately 40 percent in after-tax operating income.
Murphy has held several positions with ING's U.S. operations. Prior to becoming CEO of US Wealth Management, she was Group President, ING Worksite and Institutional Financial Services. She also served as General Counsel and Chief Administrative Officer for US Financial Services. In that role, she was responsible for the Legal, Compliance, Human Resources, Government Affairs, Internal and External Communications, and Community Relations. Murphy has been appointed to ING’s Leaders Council, a global committee of 20 people that advises ING’s Executive Board. She serves on ING’s US Diversity Steering Committee and is a director of the ING US Foundation Board. In 2004, she was also one of 12 senior executives chosen globally to serve on the ING Leadership Expedition, which assisted the Executive Board with strategic opportunities. She also serves on the Board of Directors for ING Canada, a public company.
Murphy joined ING in 2000, after ING’s acquisition of Aetna Financial Services. Prior to this acquisition, Murphy served as General Counsel and Chief Compliance Officer of Aetna Financial Services, among other leadership positions with Aetna.
Murphy has served on a variety of regulatory, industry and business commissions and task forces across the country. She currently serves on the Board of Directors of America’s Promise and on the Board of Directors of Connecticut Business and Industry Association among other civic activities. She is also serving as the Chairperson of the American Heart Association’s “Go Red for Women” campaign in Connecticut. She has been Chairperson of the Connecticut Children’s Trust Fund, and served on the Board of Directors of the Governor’s Prevention Partnership Program, the National Trustees of the Boys & Girls Club of America, the Board of Trustees of Wheeler Clinic, and the Board of Directors of the American Benefits Council.
Murphy holds a Juris Doctorate degree with highest honors from the University of Connecticut, and graduated summa cum laude with a Bachelor of Arts degree in both Economics and Political Science from Fairfield University.
For more information about ING’s US Wealth Management and US Insurance businesses, visit www.ing.com/us.
ING US Financial ServicesDana E. Ripley, 770.980.4865 or 404.788.9624 (cell) or firstname.lastname@example.org
ING Groep, N.V. 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 more than 120,000 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 offers a comprehensive array of financial services to retail and institutional clients, including life insurance, retirement plans, annuities mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, employee benefits, financial planning and reinsurance. ING holds top-tier rankings in key U.S. markets and serves more than 15 million customers across the nation. For more information, visit www.ing.com.