Russell Investments’ Australian business has been structured into three core client facing divisions – investment, private client services and institutional – following a recent shake-up at the company, Asia Pacific chief executive Alan Schoenheimer said yesterday.

The investment division will be responsible for manufacturing and managing multi-asset solutions for clients. Locally it will be lead by chief investment officer Symon Parish and supported by managing director and portfolio manager multi-asset solutions Andrew Sneddon and senior investment strategist Asia Pacific Graham Harman.

The private client services division will be headed up by division managing director Siva Sivakumaran, who was previously director of infrastructure. It will aim to drive expansion in the advice market.

The institutional division has been restructured to incorporate both Russell’s consulting business and actuarial team and will service super fund clients and other large investors.

Russell is now conducting a global search for someone to head the institutional team following Michael Clarke’s departure to Challenger.

The announcement ends weeks of speculation within the financial services industry, following the departure of several senior Russell executives, including chief executive Chris Corneil, head of asset consulting Jerome Lander and head of alternatives Nicole Connolly.

Source: Financial Standard.  Read full article here.

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