Becker bows out of ING
In a note to clients, Paul Butler, who heads the newly-separated ING Managed Funds division, said Becker had resigned to “pursue new opportunities in the industry”.
“[Becker's] decision to leave has only been delayed because he was waiting until a solution to the two frozen funds (DYF and RIF) could be announced. He has offered to stay until the current proposal is bedded in,” Butler said in the note.
Yesterday ING revised its proposal to wind up the two frozen CDO funds with an offer to split investor repayments between cash now and a further payout in five years' time.
Becker's resignation follows closely on the departure of Steven Giannoulis, ING head of marketing, and Peter Buttle, ING Life head of distribution, who left their full-time positions in February and March respectively.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
