Wires

ING Asset Management's Asia Pacific CEO Bailey to leave

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HONG KONG, Oct 11 (Reuters) - ING Investment Management'sAsia Pacific Chief Executive Officer Grant Bailey is leaving thecompany, Bailey said on Thursday.

Bailey's departure comes as ING is engaged in advanced talksto sell its Asian investment management business as part of theDutch financial services firm's strategy of divesting assets.

"I will be leaving the company in due course," Bailey toldReuters, adding that he was leaving for personal reasons.

AsianInvestor, which first reported the news, said Bailey'sdeparture comes as negotiations between Ameriprise Financial Inc

and ING over sale of its Asian investment managementbusiness broke down.

Bailey declined to comment on the talks. An externalspokeswoman for Ameriprise declined to comment.

(Reporting by Denny Thomas; Editing by Daniel Magnowski)

((denny.thomas@thomsonreuters.com)(+852 2843 6358)(ReutersMessaging: denny.thomas.reuters.com@reuters.net))

Keywords: ING/ASSETMANAGEMENT CEO