X. Rick Niu Named Chief Marketing Officer for ING U.S. Retirement Services
ING announced today that X. Rick Niu has been named chief marketing officer for ING U.S. Retirement Services, effective September 1.
Niu spent the past two years as chief growth officer for ING U.S. Insurance. He will now lead a newly-formed group that is responsible for creating a strategic, customer-driven marketing culture across the Retirement Services organization. In this role, Niu will focus on developing customer- and distributor-focused research, creating a common voice for ING in Retirement Services marketing and communications vehicles, and identifying and executing cross-organizational marketing and product synergies.
In addition, Niu will continue to lead ING’s multicultural growth strategy and execution for the U.S. Part of his responsibilities will be to build and implement a robust multicultural sales and services solution for Retirement Services that leverages the successful effort he initiated and will continue to oversee for the Insurance business. Finally, Niu will help drive Retirement Services-wide business strategy aimed at long-term, profitable growth and improved market positioning.
Niu, who is based in ING’s Windsor, Conn. office, will report to Catherine H. Smith, CEO of U.S. Retirement Services.
“This is a dynamic time for retirement services providers and the defined contribution industry. Now, more than ever, a strategic marketing discipline is critical for plan providers to differentiate themselves while they explore and capitalize on new opportunities,” said Smith. “We’re thrilled to have Rick on our team. With his broad financial services marketing experience and demonstrated strategy and execution expertise in growth markets, Rick will be instrumental in moving ING to the next level as a top retirement services company in the U.S.”
Prior to ING, Niu held various leadership and management positions within the financial services industry, working in North America, Europe and Asia. His experience has included P&L responsibilities, management of large-scale acquisitions and post-merger integrations, cross-selling, multicultural distribution, product management, branding, strategic initiatives and management consulting.
“After two exciting years with ING’s U.S. Insurance business, I’m looking forward to this great opportunity to contribute to Retirement Services,” noted Niu. “Based on its size and market penetration, ING enjoys a unique leadership role in the defined contribution space and is one of the best positioned. My goal is to help further that positive position and reputation. I see an incredible opportunity for ING to do this as an advocate for plan sponsors, as they seek to improve their benefit offerings, by helping them educate, enroll and service their employees in retirement plans. In addition, we can aid our distributors and customers in reaching some of the fastest-growing yet least-served parts of America’s workforce -- the multicultural employees.”
Niu, who is fluent in Mandarin Chinese, earned his MBA from Columbia Business School in New York and holds a bachelor’s degree from Tsinghua University in Beijing. He is currently a board member of the Junior Achievement organization and represents Insurance Americas on ING’s Global Diversity Council. Niu and his wife live in Connecticut with their two children.
ING’s U.S. Retirement Services is currently the nation’s largest defined contribution plan provider based on number of sponsors, with over 52,000; the second largest based on number of plan participants with approximately 7 million; and the third largest based on combined assets under management and administration, with more than $235 billion.1 It is one of the few providers with a scaled leadership presence across the entire defined contribution spectrum and the ability to offer retirement solutions for any size or segment of the market.
1. Pensions & Investments, July 27, 2009.
Joe Loparco, ING Americas, 860.580.2677 or firstname.lastname@example.org
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in over 40 countries. With a diverse workforce of nearly 115,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
In the U.S., the ING (NYSE: ING) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes 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 approximately 30 million customers across the nation.
For more information, visit www.ing.com/US.