Voya Financial

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Voya Financial, Inc.
Public
Traded as NYSEVOYA
Russell 1000 Component
Industry Financial services
Predecessor ING U.S.
Founded 1991; 27 years ago (1991)
(As a ING subsidiary)
Headquarters Helmsley Building
New York, New York
Key people
Rodney O. Martin, Jr.
(Chairman & CEO)
Michael S. Smith
(CFO)
Products Retirement services
Insurance
Asset management
Employee benefits
Revenue Decrease US$ 8.618 billion (2017)
Increase US$ 528 million (2017)
Decrease US$ -2.792 billion (2017)
Total assets Increase US$ 222.53 billion (2017)
Total equity Decrease US$ 11.039 billion (2017)
Number of employees
~6,300 (2017)
Website Voya.com
Footnotes / references
[1]

Voya Financial is an American financial, retirement, investment and insurance company based in New York, New York. Voya began as ING U.S., the United States operating subsidiary of ING Group, which was spun off in 2013 and established independent financial backing through an initial public offering.[2] In April 2014, the company rebranded itself as Voya Financial.[3] Voya's predecessors had first entered the U.S. market in the 1970s.

As of 2016, Voya served approximately 14.7 million customers with over $550 billion combined in assets under management (AUM) and assets under administration (AUA).[1]

Operations[edit]

One of three Voya Financial buildings in Minneapolis

The company's main center for broker-dealer (the ING Financial Partners division)[2] and annuities businesses is located in Des Moines, Iowa.[4] This center was first established in 1997 and employed 400 as of late 2014.[2][4] On July 31, 2017, Voya entered into an agreement with Cognizant to outsource a broad range of IT services, resulting in layoffs and jobs transferred to Cognizant. [5]

References[edit]

Notes

  1. ^ a b "US SEC: Form 10-K Voya Financial, Inc". U.S. Securities and Exchange Commission. Retrieved February 23, 2018. 
  2. ^ a b c Gardyasz, Joe (14 Mar 2014). "ING rebranding as Voya Financial". Business Record. Des Moines, Iowa: Business Publications. Retrieved 21 Apr 2015. 
  3. ^ Mathis, Karen Brune (21 Mar 2014). "ING U.S. becomes Voya". Financial News & Daily Record. Jacksonville, Florida. 
  4. ^ a b Patane, Matthew (2 Sep 2014). "Voya's Des Moines office to celebrate end of rebranding". The Des Moines Register. Retrieved 21 Apr 2015. 
  5. ^ "VOYA FINANCIAL, INC. (NYSE:VOYA) Files An 8-K Entry into a Material Definitive Agreement - Market Exclusive". marketexclusive.com. Retrieved 2017-09-06. 

Further reading