Higher interest rates lowered liabilities, as average asset losses reach 21% for the fiscal year, a Russell Investments study shows.
Zach Buchwald arrives at Russell from BlackRock, while Invesco promotes Andrew Schlossberg from managing director role.
The firm has tapped Peter Gunning, who had been CIO previously.
The new head means the 82-year-old firm has women in both of its highest roles.
Peter Gunning, who once had the role, resumes it until a replacement is found.
Asset manager takes over from the food and beverage maker’s in-house investment operation.
The so-called $20 billion club’s pension funded status rises to 84.4%.
30-year industry leader to succeed Len Brennan, who will become strategic advisor to the firm.
Tax considerations, rising PBGC premiums drive move, Russell Investments says.