Russell searches for new institutional head to lead restructured team

Russell Investments is on the hunt for a new leader for its institutional business after incorporating its consulting business plus its actuarial team into the business unit.

Russell Investments Asia-Pacific chief executive Alan Schoenheimer said the company was aligning its local structure with its global evolution.

He said its institutional business was actively seeking new alliances with investors to build customised multi-asset funds or to align them with existing multi-asset solutions, while at the same time conducting a global search for a new managing director of institutional.

Michael Clarke has stepped down from the position to pursue a new role outside the firm.

Schoenheimer said the candidate, charged with driving relationships with local insurance companies and super funds, would be critical in building Russell’s alliance approach by working with a broader set of institutional clients in the development of outcome-oriented solutions.

Russell has also realigned its investment division, which will be led by chief investment officer Symon Parish, to encompass institutional and private client business, custom manufacturing and managing multi-asset solutions for clients.

It has made additional changes to its private client services to expand its presence in the advice market.

In February, Russell Investments announced it had formed a strategic alliance with Link Group to deliver a joint investment and administration service to clients.