ING reveals new global fund of funds chief

Dutch real estate investment manager turns to inside talent to replace Nick Cooper as head of ING Real Estate Select

ING Real Estate Investment Management has appointed Jan Meulenbelt as global head of ING Real Estate Select, its multi-manager division. 

The promotion for Meulenbelt follows news earlier this month that current head, Nick Cooper, had resigned. Cooper did not want to relocate from London to the Netherlands as part of a restructuring of the business.

Meulenbelt joined ING Real Estate Select in 2006 to help build the business in Europe and was also part of the ING Real Estate Select European Investment Committee.

Pieter Hendrikse, chief executive of ING Real Estate Investment Management Europe (ING REIM), said REIM was a “strong supporter of future growth” for ING Real Estate Select. 

In October, ING disclosed plans to hive off its indirect property management business within four years as part of wider plans to split the banking and insurance giant into two.

The Dutch financial services group revealed it is separating its insurance business to concentrate on its core banking operations following pressure from the European Commission over the €10 billion of state said it has received. As ING Real Estate Investment Management is part of the global investment business, it would be divested before the end of 2013.