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UBS Global AM completes aquisition of ING IM Australia

UBS Global Asset Management completes the acquisition of ING Investment Management in Australia
       
On the 4th of October 2011 UBS Global Asset Management announced the successful closing of the ING Investment Management Limited (“ING IM”) acquisition in Australia announced on 30 June 2011. 

The integration of the businesses will continue through the first quarter of 2012. This timeframe will allow for a smooth and efficient transition of client mandates, personnel and systems. During this time ING IM existing clients’ portfolios will continue to be managed by its investment and support teams. UBS Global Asset Management’s clients will be unaffected by these developments.

Ben Heap, Head of UBS Global Asset Management, Australia and New Zealand, said: “We are delighted with the progress made so far and are excited about the opportunities now available to us as a business of increased scale. The combined business will create an asset management business with a wider skill set allowing us to expand and enhance our client offering to include investment options from both organisations,” he said.

www.ubs.com/globalam-australia