ING U.S. Financial Services announced Tuesday the hiring of Harry N. Stout to be president of its annuity business group, a unit of the company's retail financial services unit.
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Mr. Stout, who is based in West Chester, Pa., is to oversee annuity distribution, product management, and actuarial and financial management of ING's $48.6 billion of U.S. annuity business. ING, a financial services company headquartered in Amsterdam, is ranked 20th in annuity sales through U.S. banks by Kenneth Kehrer Associates, a Princeton, N.J., consulting firm.
ING hired Mr. Stout from Old Mutual U.S. Life Holdings Inc. where he was the deputy chief executive; he previously was the president and chief executive officer of Fidelity and Guaranty Life Insurance Co.
