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Deals & People August 6, 2013
Russell Appoints Global CIO
Global asset manager Russell Investments appointed Jeff Hussey as global chief investment officer (CIO).
Reported by Kevin McGuinness
As global CIO, the Seattle-based Hussey will direct Russell’s investment management, implementation and research activities worldwide. He brings more than two decades of asset management experience with Russell, including a decade as CIO, fixed income, during which he had direct responsibility for more than $60 billion in assets and oversight of the firm’s cash management strategies. Hussey will also serve on Russell’s executive committee.
Pete Gunning, the current global CIO, will become chief executive, Asia-Pacific; Alan Schoenheimer, the current chief executive, Asia-Pacific, will transition to a non-executive advisory role; and Gerard Fitzpatrick will succeed Hussey as chief investment officer, global fixed income. These changes will take effect on October 1.
Gunning will return to Sydney, Australia, to manage the Asia-Pacific region. He brings a mix of global perspective and in-depth understanding of the region to his new role. Under his tenure as global CIO, he helped transform the firm’s investment proposition to focus on world-class multi-asset solutions and led Russell’s asset management and portfolio implementation teams through a period of challenging economic and market conditions. Gunning, who joined Russell in its Sydney office in 1996, will have responsibility for the firm’s business activities in Japan, Korea, China, Taiwan, Singapore, Australia and New Zealand. He will continue to serve as a member of Russell’s executive committee and report to CEO Len Brennan.
Schoenheimer has been with Russell for 22 years, serving most recently as chief executive, Asia-Pacific.
“Throughout his career at Russell, initially as a senior consultant in our Sydney office and later in institutional and retail funds leadership positions, Alan served our clients with an emphasis on bringing Russell’s innovative multi-asset, outcome-oriented solutions to bear across a wide range of asset classes and strategies,” said Brennan, adding that Schoenheimer will continue to work with him on strategic projects in a non-executive role at the firm.