ING appoints new CIO

Thursday, August 19th 2004, 6:36AM

ING has appointed Rebecca Thomas as chief investment officer to replaces David McClatchy, who recently moved to Sydney to head ING’s investment management operation in Australia.

Thomas joins ING from the United Kingdom where she has an outstanding track record and reputation both as a chief investment officer and chief executive. She is one of the few women to have headed a funds management operation in London.

She has been in funds management for 14 years and in the early stages she managed a broad range of UK, European and US assets for a variety of investment clients.

In the late 1990s during her time with London asset manager Johnson Fry, in the dual role of managing of asset management and CIO, Thomas was brought on board to strategically reposition the company and raise its profile, as well as develop the investment philosophy, style and processes.

After successfully transitioning from a £10 million operation to a £60 million business, Johnson Fry was acquired by US-based, global top-50 financial house, Legg Mason, with Thomas continuing in the chief executive role for a further three years.

Since then, she has worked in a consulting capacity and as a non-executive director of a number of UK companies.

“Rebecca has experience in all facets of the investment management industry. In addition, she has demonstrated a remarkable talent for business strategy, re-engineering and development,” ING managing director Paul Fyfe says.

Thomas says she looks forward to joining ING New Zealand and heading the investment management team.

“While this is essentially a new market for me, I know I am ‘inheriting’ a very well-developed and experienced team of fund managers who already have an excellent reputation within the New Zealand investment industry. My role will be to oversee the continuation of that performance and to provide a ‘fresh’ view by identifying opportunities for further growth and differentiation based on my northern hemisphere experience.”

Thomas begins with ING in mid September.

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