Crispin Lace, a director in the UK pension solutions group at Russell Investments, has quit the firm after three years, CIO has learned.
Lace resigned on Monday and is on gardening leave. Russell declined to comment on a potential replacement. Lace could not be reached for comment.
Lace joined Russell in October 2011 from Mercer, where he worked on the construction of growth-oriented investment portfolios. Prior to joining Mercer in 2008, he spent more than 20 years at Watson Wyatt—now Towers Watson—running the company’s businesses in Scandinavia and Germany.
Russell’s future has been the subject of industry speculation since the London Stock Exchange (LSE) completed its acquisition of the company on December 3. The LSE is undertaking a “comprehensive review” of Russell’s investment management business, which will be completed early next year.
Insiders have told Chief Investment Officer that Russell sees its consulting arm primarily as a feeder for the more profitable indexing, investment management, and implementation businesses.
CIO spoke to several insiders about the consequences of the sale: Read the resulting article online or in December’s edition of the magazine.
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