(August 7, 2013) — A shake-up at Russell Investments has seen Jeff Hussey promoted to the position of global CIO, replacing Pete Gunning who had held the role since 2008.
Hussey was formerly the CIO for fixed income for 10 years, and has more than 20 years’ experience at the asset manager and consultant.
Gunning will now lead the Asia-Pacific arm of Russell, returning to his homeland of Australia to do so. The current CEO of Asia-Pacific, Alan Schoenheimer, is to move to a non-executive role after 22 years at Russell Investments.
Speaking about Hussey, Group CEO Len Brennan said he had a “deeply rooted investment experience in a variety of vital leadership, portfolio management and analyst roles at Russell”, adding that he was “steeped in the rich tradition of our multi-asset investing expertise”.
Hussey takes the helm of the investment division at a critical time for the asset manager, as it seeks to expand its growing outsourced CIO business.
At a recent conference, Russell Investments asked more than 100 investors from the UK, Netherlands, Ireland, and Italy whether they believed delegation would help achieve their investment goals.
Of the 106 asked in June 2013, 35% had little or no delegation in place but planned to do more in future, and another 43% already had significant outsourcing in place and planned to continue or increase the practice.
Russell Investments had more than $237 billion in assets under management at of the end of June 2013, and $2.6 trillion in assets under advisement at the end of 2012.
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