Multi-Asset Strategies & Solutions Team

Paul Zemsky, CFA

Paul Zemsky is the Chief Investment Officer of ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) with responsibility for traditional and alternative investment solutions. Under his leadership, traditional funds are supported by asset allocation, manager research, and multi-manager capabilities. Within alternatives, fund-of-funds and private equity report to Paul. His team has capabilities in derivatives/financial engineering, risk management, portable alpha, asset allocation, liability modeling and pension accounting, and multi-manager portfolio structuring. Paul joined ING U.S. Investment Management in 2005 as Head of Derivative Strategies. In this role, he oversaw derivative strategies for credit, interest rate, and equity products, and supported the organization on a number of key areas, including product development and risk management for both proprietary and third-party businesses. Paul spent 18 years at JPMorgan Investment Management, where he held a number of key positions, including Head of Investments for over $300 Billion of Fixed Income assets. He was one of the first on Wall Street to identify the potential for portable alpha strategies and liability targeted portfolios. Prior to his role at ING, he co-founded CaliberOne Private Funds Management, a macro hedge fund. He holds a dual degree in finance and electrical engineering from the Management and Technology Program at the University of Pennsylvania and holds the Chartered Financial Analyst® designation.

Frank van Etten

Frank is the Deputy Head of ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). In this role, he manages the research and investment teams that design and implement investment products and solutions with asset allocation, manager selection and/or structured investment components. Frank also drives product development and business management. He joined ING Investment Management in Europe in 2002 on the Structured Investment Strategies team, where he initially carried out research in equity derivatives markets. Subsequently, as a portfolio manager, he oversaw two investment teams that managed a range of liability-driven investment solutions, structured funds and alternative investments and executed hedging programs and derivatives trading. Frank obtained his master’s degree in econometrics from Tilburg University in the Netherlands, specializing in quantitative finance.

Elizabeth Allina

Elizabeth Allina is a Senior Portfolio Specialist within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). Elizabeth is responsible for managing the business and commercial activities for ING’s asset allocation strategies. Prior to this role, Elizabeth was the portfolio specialist for the Fixed Income Managed Accounts Investment team. Elizabeth joined ING in 2007 as a Strategic Sales Specialist in the Institutional Sales department. Previously, Elizabeth worked as an institutional equity market maker for a subsidiary of RBC Dain Rauscher. She also worked for GE Capital in the Corporate Finance (FMP) Financial Management Program. Elizabeth received her B.S. in Finance, International Business and Entrepreneurship from Indiana University’s Kelley School of Business. Elizabeth is Six Sigma Certified and holds the series 7, 63, and, 55 licenses.

Matthew Babcock, CFA

Matt Babcock is a Senior Manager Research Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). He is responsible for covering managers in the fixed income asset classes. Prior to joining ING, he spent seven years in relationship management roles at Charles Schwab, which included providing plan investment support to clients. Prior to that, he worked as an investment analyst at Moskal Klein Inc., a retirement plan administration firm in Cleveland, Ohio. Matt earned a Bachelor of Science degree in Finance from the University of South Florida and holds the Chartered Financial Analyst® designation.

Elias Belessakos, Ph.D.

Elias Belessakos is a Senior Quantitative Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). He is responsible for conducting research on tactical and strategic asset allocation strategies as well as developing capital markets forecasts. Prior to joining ING U.S. Investment Management, he was a senior portfolio manager and director of quantitative research for New York Life Investment Management (NYLIM). Prior to NYLIM, Elias was a senior quantitative analyst at the asset allocation team of Bankers Trust/Deutsche Asset Management and prior to that at JPMorgan Investment Management. He also spent a number of years as an Assistant Professor of Economics and Finance at Baruch College in New York City. Elias earned a B.A. in economics and finance from The American College of Greece in Athens and an M.A. and Ph.D. in economics from the University of Pennsylvania.

Karyn Cavanaugh, CFA

Karyn Cavanaugh, CFA, is the ING U.S. Investment Management Market Strategist. As a member of the ING Multi-Asset Strategies and Solutions Group, she communicates ING views on markets, economies and investment strategy. Through her contributions to daily, weekly and monthly market commentaries, as well as speaking engagements, seminars and conference calls, Karyn provides in-depth analysis and practical support to help advisors and investors maintain effective long-term, goal-oriented investment strategies. Her commentary has been featured in Financial Times, the Associated Press and Dow Jones news services. Karyn previously spent 15 years as an analyst with Hartford Investment Management Company and more recently two years in Hartford Life’s international operations. As part of Hartford International, Karyn was responsible for analysis and development of global expansion strategy. Karyn earned a B.S. in finance from the University of Connecticut and an M.B.A. from the University of Hartford. She holds the Chartered Financial Analyst® designation.

Ben Chen, Ph.D., CFA

Ben Chen heads the Strategy Research team within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). In this role, Ben has responsibility for strategy research and design for the MASS group’s multi-asset and structured products, including risk-based, target-date, portable alpha and structured closed-end funds. His team also provides quantitative due diligence on the active managers used in the MASS team’s multi-manager strategies. Additionally he participates in new product development and customized investment solutions for both retail and institutional investors. Most recently, Ben worked for the Structured Derivatives Strategies Group at ING Annuities where he designed a sophisticated quantitative fund analytics framework to evaluate fund managers and constructed multi-asset fund portfolio for variable annuity business, developed hedging strategies for performance guarantees offered in variable annuity products. Prior to that, he was a vice president responsible for portfolio and risk management at Starview Capital Management, a fund of hedge funds. Previously he worked as a senior quantitative analyst for Guzman & Company in Miami, FL. Ben holds a B.A. in Economics from Xiamen University and a M.A. in Economics from Peking University, both in China. He earned his Ph.D. in Economics from Syracuse University and holds the Chartered Financial Analyst® designation.

Douglas Coté, CFA

Douglas Coté, CFA, is the ING U.S. Investment Management Chief Market Strategist. With daily, weekly and monthly market commentaries, as well as speaking engagements, training seminars and conference calls, Doug provides in-depth analysis and practical support to help advisors maintain effective long-term, goal-oriented investment strategies. With over 20 years of active money management experience as a portfolio manager and hedge fund chief investment officer, Doug delivers hands-on interpretations of the forces driving capital markets and effective ways to respond. In Doug’s former role as a portfolio manager with ING Investment Management, he managed over $14 billion in equity assets. Doug is regularly featured on CNBC’s Closing Bell, as well as Fox Business, Bloomberg Radio and other media outlets. A recognized authority on trading impact, cost and timing risk, he has also been published in the International Journal of Managerial Finance and other publications, coining the term “Honest EPS” as a way of identifying high quality stocks.

Pierre Couture, A.S.A., E.A., M.A.A.A.

Pierre Couture is a senior portfolio manager in the Multi-Asset Strategies and Solutions group (MASS). He is responsible for developing customized investment solutions using traditional investment products, alternative investments, portable alpha strategies, and long duration strategies to address sponsors’ investment objectives. Prior to joining ING in 2007, Pierre was with Mercer Investment Consulting and consulted to U.S. (public, Taft-Hartley and corporate) and multinational clients seeking integrated financial risk management advice for their pension plans. He specialized in asset/liability modeling, strategic asset allocation, funding, and accounting policy analysis. Before joining Mercer’s New York office in 1994, Pierre worked in Mercer’s Montreal office for over four years. Pierre holds a BSc in actuarial sciences from Universite Laval in Quebec City. He is an Associate of the Society of Actuaries, an Enrolled Actuary under ERISA, and a Member of the American Academy of Actuaries.

Michael F. D'Andrea, CFA, CPA

Michael D’Andrea is a Senior Manager Research Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) and is responsible for the research and selection of global, international and emerging markets equity managers. His manager due diligence and selection activities cover all of the MASS group’s multi-manager products, including risk-based, target date, portable alpha and other asset class fund of funds solutions. In addition Mike is responsible for the fund oversight and reporting on the investment options associated with the ING Unified Board’s International, Balanced and Fixed Income Investment Review Committee. Prior to joining ING in 2005, Mike was the Director of Fund Management for the Travelers Life & Annuity Company where he managed a team of analysts responsible for fund oversight and due diligence. At Travelers, he also held a senior credit analyst position. Prior to joining Travelers, Mike was a senior analyst with Barclays Bank and began his career as an auditor with PriceWaterhouse. Mike holds a Bachelor of Science degree in Accounting from Southern Connecticut State University and the Chartered Financial Analysts® designation. He is also a Certified Public Accountant, FINRA registered representative, and a Registered Investment Advisor.

Nigel Francis

Nigel Francis is the Chief of Staff of ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). In this role he provides dedicated support to the senior managers of the team, with a focus on project management and business management. He joined ING U.S. Investment Management in 2005 as a project manager working for the Chief of Staff office to the Chief Investment Officer. He later joined the Global Quantitative Strategies team as a portfolio manager where he was responsible for overseeing the implementation for a number of active, enhanced index and passive strategies. Prior to joining ING U.S. Investment Management, he worked in the Technology Department at JPMorgan Asset Management in London and New York, where he worked as a business analyst. Nigel received a B.S. with honors in Computer Science from Staffordshire University in England.

Heather Hackett, CFA, CAIA

Heather Hackett is a Portfolio Manager within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) and is primarily responsible for outcome oriented asset allocation products and customized portfolios for institutional clients. She joined ING U.S. Investment Management in 2005 as a Portfolio Specialist supporting the International Equity and Asset Allocation teams. Prior to joining ING, Heather was an analyst in the Consulting Group of Smith Barney and she was a registered associate with Schroder & Co. Heather graduated Magna Cum Laude with a B.S. in business economics from State University of New York and holds the Chartered Financial Analyst® and Chartered Alternative Investment Analyst designations.

Robert E. Harris

Bob Harris is a Senior Manager Research Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) and is responsible for the research and selection of domestic large cap value, large cap blend, and moderate allocation managers. His manager due diligence and selection activities cover all of the MASS group’s multi-manager products, including risk-based, target date, portable alpha and other asset class fund of funds solutions. Bob joined the MASS group in 2007. He has been with ING (and predecessor firms Pilgrim Funds and Northstar Funds) since 1998 in various roles, including Equity Research Associate, Trading Operations Manager, and Senior Investment Risk Analyst. He graduated with Phi Beta Kappa honors from Swarthmore College with a B.S. degree in Engineering and a B.A. degree in Psychology. He also earned a M.B.A. degree in Finance from the Kelley School of Business at Indiana University.

Jody Hrazanek

Jody Hrazanek is Head of Portfolio Implementation and Management in ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). She is responsible for overseeing the implementation of a variety of investment solutions including asset allocation, derivatives/financial engineering, risk management, portable alpha and structured products. Jody joined ING U.S. Investment Management in October 2005 as a derivatives trader with responsibility for ING’s third-party business as well as the firm’s general account. Prior to joining ING she was a convertible bond trader at Advent Capital Management. She had previously been a bond and risk arbitrage trader at Merrill Lynch Quantitative Advisors and Deutsche Bank Asset Management and an analyst at Goldman Sachs. Jody graduated Summa Cum Laude from Fairfield University with a B.S. in mathematics and a M.S. in statistics and operations research from New York University.

Jon Kaczka, CFA

Jon Kaczka is an Asset Allocation Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) focusing on tactical asset allocation research. Prior to joining ING U.S. Investment Management in 2011, he was a Senior Treasury Analyst for Pitney Bowes focusing on investments within the global pension plans. Jon holds a B.S. in Finance from Bentley University.

Halvard Kvaale, CIMA

Halvard Kvaale is Head of Manager Research and Selection within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). Prior to joining ING U.S. Investment Management, Halvard was Managing Director and Head of Morgan Stanley Smith Barney Consulting Group’s Portfolio Advisory Services Group. In this role, he was responsible for the management of the firm’s discretionary programs within Morgan Stanley Smith Barney overseeing more than $26 billion. When joining Morgan Stanley in 2006 he served as the Head of Global Advisor Research in the Consulting Services Group overseeing the research and due diligence of third party investment managers. Previously he served as the Head of Global Manager Research and Fee-Based Advisory Solutions at Deutsche Bank, and at Prudential Investments he managed the third party Consulting Programs, ran the Investment Management Analysis Unit and the Senior Consulting Group. Halvard graduated from the Norwegian School of Management with a Masters of General Business, and graduated Summa Cum Laude with an M.S. in Investing from San Francisco State University. Halvard holds a Certified Investment Management Analyst (CIMA) designation from the Wharton School of Business.

Bindu Patel

Bindu Patel is a Manager Research Analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS) and is responsible for the research and selection of both domestic and international managers within the large growth and specialty asset classes, for a variety of MASS products. Such strategies include target-date, risk-based and other asset allocation products as well as the ING Funds Board and the ING Unified Board’s Domestic Equity and International, Balanced and Fixed Income Investment Review Committees. Prior to joining ING in 2005, she spent over nine years with Bank of America and its predecessor, Fleet National Bank. She held successive positions within both the retail and private bank divisions, the last of which was in the capacity of portfolio manager of high net worth and institutional clients within the Wealth Management Division. Bindu earned her Bachelor of Arts degree (Psychology) from the University of Connecticut. She is a FINRA registered representative.

Jason Rausch, CFA

Jason Rausch joined ING U.S. Investment Management in April 2007 and is a Derivatives Trader within the Multi-Asset Strategies and Solutions group (MASS). He came from Jennison Associates where he worked as a Portfolio Assistant. In his current role, Jason is part of the team responsible for trading derivatives for ING’s third-party accounts. He graduated with a B.S. in Finance from Marist College and a B.B.A. in Accounting from Dowling College. Jason holds the Chartered Financial Analyst® designation and is a member of the New York Society of Securities Analysts.

Derek Sasveld, CFA

Derek Sasveld is Head of Asset Allocation within the Multi-Asset Strategies and Solutions Group. In this role, he is responsible for tactical and strategic asset allocation decisions on all of the MASS team’s products. Previously, Derek was Partner, Investment Strategy at Strategic Investment Group in Arlington, Virginia. There, he worked closely with investment, research, and analytical staff in developing, implementing and communicating investment policies and strategies for the firm’s clients. Prior to joining Strategic, Derek was Managing Director and Senior Asset Allocation Strategist for UBS Global Asset Management (formerly Brinson Partners) where he assisted in the setting and communication of portfolio strategy for multi-asset class mandates. He engaged in the critical review of asset class valuation and market pricing models and oversaw the due diligence and implementation processes for allocations to illiquid asset classes. Prior to that, he was with Ibbotson Associates (later acquired by Morningstar), finishing his tenure as a Senior Consultant. Derek holds an M.B.A. from the University of Chicago Booth School of Business and a B.S. in Finance from the University of Illinois at Urbana-Champaign. He is a member of the CFA Institute and has completed the Series 3 and 65 securities examinations.

Steve Sedmak, CFA

Steve Sedmak is a Portfolio Manager within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). He joined ING U.S. Investment Management in November 2006 as Portfolio Manager in the Quantitative Equity group, where he was responsible for overseeing the implementation for a number of active, enhanced index, and passive strategies. Prior to joining ING U.S. Investment Management, Steve was a trader in the portfolio and algorithmic trading group at Stifel Nicolaus. He also worked in portfolio trading at Legg Mason and CIBC World Markets. In addition, Steve worked on the equity derivatives strategy team at Merrill Lynch. Steve earned a B.A. in Mathematics and a B.S. in Business Administration from the University of Southern California, an M.S. in Mathematics of Finance from New York University, and holds the Chartered Financial Analyst® designation.

Jianyuan Shang, Ph.D.

Jianyuan Shang is a Quantitative analyst within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). Prior to joining ING U.S. Investment Management in 2011, Jianyuan was a quantitative analyst with Public Service Enterprise Group and Constellation Commodity Group. Jianyuan received her Ph.D. in Physics and M.S. in Statistics from University of Michigan, Ann Arbor and her B.S. in Physics from Tsinghua University, Beijing, China.

May Tong, CFA

May Tong is a Portfolio Manager within ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). She joined ING U.S. Investment Management in June 2006 as Portfolio Manager in the Quantitative Equity group, where she was responsible for overseeing the implementation for a number of active, enhanced index, and passive strategies. Prior to joining the firm, she was a Trader and Associate Portfolio Manager for five years for the Quantitative Advisors group within Merrill Lynch Investment Managers with oversight of $60 billion of passive and enhanced strategies. She graduated Magna Cum Laude in 2001 with a B.S. in Finance and Accounting from Boston College. She also earned an M.B.A. from Columbia in 2010 and holds the Chartered Financial Analyst® designation.

Susan Viston

Susan Viston is a Client Portfolio Manager and Head of Investment Services for ING U.S. Investment Management’s Multi-Asset Strategies and Solutions group (MASS). She is responsible for managing the Investment Services team within MASS and driving the group’s business development and client activities. Prior to this role, she was the lead portfolio specialist for several of ING’s fundamental equity strategies, including large-cap core, equity income, 130/30 and sector-specific strategies. Susan joined ING U.S. Investment Management in 2002 and worked as an investment risk specialist in the ING Investment Risk Department. She received a B.A. in economics from Drew University.

Geoffrey Watts, CFA

Geoffrey Watts joined ING U.S. Investment Management in 2007 and is currently a Quantitative Analyst in the Multi-Asset Strategies and Solutions group. Prior to joining ING, Geoff was a quantitative portfolio manager and researcher at Geronimo Partners, a hedge fund based in Denver, Co, where he was responsible for the management of quantitative equity and index option portfolios. In addition, Geoff has worked as quantitative strategist at Prudential Securities as well as a quantitative analyst for Mellon Financial. Geoff earned his B.A. in Economics from the University of Rochester. Geoff holds the Chartered Financial Analyst® designation and has completed the Certificate of Quantitative Finance.

Richard Yuen, CFA

Richard Yuen joined ING U.S. Investment Management in 2008 and is currently a Quantitative Analyst in the Multi-Asset Strategies and Solutions group (MASS). Previously, Richard was a vice president at Beecher Investors, a fundamental equity investment firm and hedge fund, where he worked for five years with responsibilities in research, operations, and IT. Richard earned a B.S.E. in Computer Science and Engineering from the University of Pennsylvania and an M.B.A. in Accounting, Finance and Economics from Columbia Business School, where he attended the Value Investing Program. Richard holds the Chartered Financial Analyst® designation and is a member of the Association for Computing Machinery, Beta Gamma Sigma, and the New York Society for Security Analysts.