Holland’s ING Group, already the 19th largest global asset manager, stands to significantly increase its standing to number 11 when the formalities of its acquisition of ReliaStar and Aetna’s asset management and international holdings are completed.
“Assets under management of ING Group, which amounted to $347 billion as at year end 1999, will increase to $383 billion with the acquisition of ReliaStar and to $467 billion (pro forma) with the acquisition of Aetna. The combined assets under management of ING, ReliaStar and Aetna in the United States amounts to $143 billion (pro forma 1999), compared with ING’s total of $72 billion before the two acquisitions,” said a company announcement.
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