ING suffers major loss

Fidelity swoops on regional chief

By Stephen Blaxhall
Thu 31 Jan 2008

ING Investment Management has suffered a blow as the group's regional chief jumps ship.

Christopher Ryan, ING Investment Management (INGIM) regional chief executive for Asia Pacific, is leaving the group.

Australian-born Ryan, who is based in Hong Kong, will join Fidelity Investments as its managing director Asia (excluding Japan and Australia) on February 18.

Ryan will report to Fidelity International Asia Pacific president Brett Goodin.

Goodin, a New Zealander, is moving to Sydney after four years in Tokyo and spells in Hong Kong and Bermuda.

INGIM regional general manager North Asia Eddy Belmans will take over as acting chief executive for Asia until a replacement for Ryan can be found.

INGIM's Australian executive team underwent an extensive shake up in 2007 following the overseas posting of chief executive Grant Bailey.

David McClatchy was appointed chief executive while James Wright became chief investment officer for asset strategies and alternatives. Eric Siegloff became chief investment officer for macro strategies and implementation.

Martin Donnelly was also appointed head of sales and deputy chief executive for INGIM.

Fidelity Investments Australia also rang the changes, with managing director Michael Ohlsson resigning in October, to be replaced by Perpetual veteran Gerard Doherty, who took up the reins at the beginning of this year.

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