ING in ôexclusiveö talks to acquire Korea fund house Landmark

ING Investment Management is in ôexclusiveö discussions with the shareholders of Landmark Asset Management in South Korea to acquire a majority stake in the company, says Chris Ryan, Hong Kong-based Asia-Pacific CEO at ING-IM.Landmark is 87.6% owned by Morgan StanleyÆs private equity arm, which is now a unit of Morgan Stanley Investment Management (MSIM). LandmarkÆs CEO, Choi Hong, also holds a stake that is wrapped within that figure. Kyobo Life holds another 11.2% but is not directl…