Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WINDSOR, Conn., Jan. 10, 2013 /PRNewswire/ -- ING U.S. announced today that it has hired David Bedard as president of its Annuities business segment. This segment, part of ING U.S.'s Retirement Solutions business, is focused on driving growth and long-term success in the fixed annuity market.
In this role, Bedard is responsible for product, financial management and the operating performance of the fixed annuity business. He will also serve as a member of the Retirement Solutions executive team, collaborating on overall business strategy and direction.
Bedard brings a broad range of annuity and financial expertise to ING U.S. He has more than 25 years of experience in financial leadership positions at insurance and financial services organizations. Most recently, Bedard was executive vice president of Global Annuities for The Hartford Financial Services Group after serving as the chief financial officer of that firm's wealth management business. Previously, he was senior vice president and chief financial officer for the U.S. Life and Agency division of New York Life Insurance Company, where he also served as senior managing director and chief financial officer for New York Life Investments. Bedard also held leadership positions earlier in his career at MassMutual and Coopers & Lybrand.
Bedard, who will be based in ING U.S.'s Windsor, Conn., office, will report to Maliz Beams, chief executive officer of ING U.S. Retirement Solutions. His appointment is effective January 28, 2013.
"We're delighted to have Dave join our team in this new role, which closely aligns the annuity business to ING U.S.'s overall retirement strategy," noted Beams. "Dave's financial acumen, breadth of experience and appreciation for the importance of our work will further our goal to help customers achieve the retirement security they expect and deserve."
"I'm excited to join an organization that is such a strong leader and advocate in the retirement industry," said Bedard. "As the landscape continues to evolve, there is a significant need for working Americans to plan and save for their financial futures. This includes building and integrating an effective strategy to replace their income throughout their retirement years."
Bedard, who is a certified public accountant, earned a B.S. in business administration from Nichols College in Massachusetts. He currently serves as a member of the Nichols Board of Trustees and as chairman of its Audit Committee.
ING U.S.'s Retirement Solutions business, which comprises its Retirement and Annuities segments, is a leading provider of retirement plans and individual retirement products and guidance in the U.S. The business is focused on helping working Americans prepare for a secure retirement through employer-sponsored savings plans and personal advice, planning and product solutions. The Annuities segment includes fixed, fixed-index and immediate annuities.
About ING U.S.INGU.S. constitutes the U.S.-based retirement, investment and insurance operations of Netherlands-based ING Groep N.V. (NYSE: ING). In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, including retirement plans, IRA rollovers and transfers, stable value, institutional investment management, mutual funds, alternative investments, life insurance, employee benefits, fixed and indexed annuities and financial planning. ING U.S. holds top-tier rankings in key U.S. markets and serves approximately 13 million customers across the nation. For more information, visit http://ing.us.
SOURCE ING U.S.