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Friday, February 25, 2000

Frank Russell President Resigns

Reported by Jason Shank

Eric Russell, the president of the Frank Russell Company's US investment management and funds distribution business has announced his intention to resign, effective March 31, 2000, intending to pursue "other opportunities."

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Russell is the son of the firm's chairman, George Russell, and the great-grandson of the company's founder, Frank Russell. He has been with the Tacoma, WA-based company for 12 years and headed Russell's distribution network of financial advisors, insurance agents and brokers. This funds distribution network includes A.G. Edwards, the sixth largest U.S. brokerage firm and Northwestern Mutual, which acquired Frank Russell in early 1999, which offers Russell funds through variable annuity and variable life insurance products.

Mike Phillips, chief executive officer at Frank Russell said he will work with the company's executive committee to determine Eric Russell's successor. 

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