According to an announcement, Bello replaces Bill Elmslie, who was promoted in August to head up all Intermediary Corporate Markets Distribution and Service for ING U.S. Retirement Services.
ING’s Intermediary Corporate Markets segment focuses on 401(k) plans with less than $150 million in defined contribution assets. Recently, the group surpassed the $2 billion sales mark for 2009 and plans to capitalize on this strong momentum into 2010.
In his new role, Bello will manage a team of 16 that covers 14 states. Bello holds one of the six positions that report to Elmslie, each with their own respective teams. These include four sales regions, a national channel management group, and the customer relations & marketing function.
Elmslie reports to Richard Mason, president of Corporate Markets for ING U.S. Retirement Services. Mason’s business includes ING’s Intermediary Corporate Markets, the Institutional Corporate Market (greater than $150 million in assets), the Defined Benefit Market and ING’s investment platform for the U.S. Retirement Services organization.