ING Investment Management has announced the appointment of William Bonde as co-head of its fund of hedge funds business, working closely with co-head Harold Yoon as the group looks  to expands its capabilities internationally.

ING Investment Management offers a variety of multistrategy, diversified fund of hedge funds products with distinct return and volatility profiles, including strategies specialising in emerging and Asia Pacific managers.

Bonde, who with Yoon reports to head of alternatives Paul Gyra, joins from Commerzbank Capital Markets, where he was the New York-based co-head of alternative investment strategies for the firm's international hedge fund of funds business and a member of the investment committee.

'We are delighted to have Bill join our global alternatives platform to further develop alternative product solutions for our clients,' says ING Investment Management chairman and chief executive Robert Leary. 'We see significant potential for ING to bring its fund of hedge funds capabilities to clients across the world.'

Before starting his financial career, Bonde served in the US Navy until 1991. Subsequently he held positions within Smith Barney's global energy group and with Cowen and Company, where he established a private equity group.

'I am delighted to be joining Harold and his team at ING,' Bonde says. 'The group has done an exceptional job in growing the business to its current level and managing through difficult markets.'

ING Investment Management is the primary investment arm of ING Group with more than USD500bn in assets under management in 33 countries. In the Americas the firm manages more than USD224bn and has offices in the US, Canada and Latin America.