Russell Investments expands fiduciary EMEA business
Financial services firm and index provider Russell Investments has expanded its fiduciary business for Europe, the Middle East and Africa (EMEA), hitting £7bn of AUM while three hires are the latest boost to the business.
The firm, which offers a range of financial services to mainly institutional clients, has grown its EMEA fiduciary business to £7bn of assets managed on behalf of its clients, with £1bn of that added in the past year.
Smaller defined benefit (DB) pension funds have underlined the recent growth, with resource constraints causing them to turn toward fiduciary management, said Shamindra Perera, head of the EMEA fiduciary team.
Under that approach small and mid-sized funds have found governance and asset management improved, as well as funding levels, she said.
Fiduciary management has meanwhile allowed Russell’s clients to respond quicker to changing markets, she added.
Russell has been targeting growth of its fiduciary business across EMEA, with three recent hires adding to that effort.
Two of the recruits bring expertise in UK and Dutch pension funds with them.
Henk Radder transfers from within Russell’s consulting division, where he advised and acted as a fiduciary manager for a number of large pension funds in the Netherlands and UK.
Gary Yeaman moves from Netherlands-based Shell Asset Management Company, a leading fiduciary manager. Previously, he worked as a pension fund manager for both Unilever and Railpen.
Sarah Zambonini meanwhile leaves insurer Aon, where she helped with development and sales of its pension solution.
Separately, Russell recently added two senior hires to its European indices business. Gareth Parker joined as director of index research and design, while Stephane Degroote became regional director of sales for EMEA.