Friday, May 20, 2011
Russell Takes a Step to Bolster its Wirehouse Ties
Reported by Armie Margaret Lee
Russell Investments [see profile]
has hired Laurie Marchel
for the newly created role of director of wirehouse channel distribution. Marchel started at Russell this month and reports to Michael Winnick
, managing director, U.S. sales and partnerships.
Marchel's mandate is to develop and deepen the Seattle-headquartered firm's relationships in the wirehouse space.
Most recently, Marchel served as a senior vice president at Dreyfus Investments [see profile]
,where she worked with distributors in the broker-dealer and independent channel. Earlier, she
was director of national accounts at Principal Financial Group and WM Group of Funds.
A spokesperson for Dreyfus was not immediately available for comment on how Marchel's former duties are being handled.
Company Press Release
Russell expands strategic relationship management with appointment of new director of wirehouse channel distribution
Laurie Marchel joins Russell's U.S. advisor-sold business in newly created role to grow and serve wirehouse partnerships
Seattle, WA — May 19, 2011 — Russell Investments has appointed Laurie Marchel, director, wirehouse channel distribution, for its U.S. advisor-sold business. In this newly created role, Marchel will be responsible for building relationships with major wirehouses with which Russell is not yet strategically aligned. Russell partners with wirehouses and other financial intermediaries to deliver its investment insights and solutions to individual investors. Marchel, who joined in early May, reports to Managing Director, U.S. Sales and Partnerships Michael Winnick.
"Laurie brings significant insight and drive, as well as a strong professional network to this new position, which will be critical to her success as she takes on responsibility for building and deepening relationships in the wirehouse channel. Given the significant market share these firms maintain in the advisor-sold business, the continued success of our working relationships with them is critical to the evolution and growth of Russell's business," said Winnick.
A financial services industry veteran, Marchel has extensive experience working with the broker community. Prior to joining Russell, she was a senior vice president at Dreyfus Investments, responsible for tactical integrations of strategic initiatives with key distributors in the broker dealer and independent channel.
Marchel also previously served as managing director, national accounts at Principal Financial Group and WM Group of Funds, where she was responsible for the relationship management team within mutual fund and separately managed account third-party distribution in the national, independent and bank channels.
About Russell Investments
Russell Investments is an independent, global financial services firm that provides strategic advice, investment solutions, implementation services and global performance benchmarks that are customized to meet the unique needs of institutional investors, financial advisors and individuals.
Celebrating its 75th anniversary in 2011, 25 years in Sydney and Tokyo and 15 years in the Netherlands, Russell has pioneered innovations that have come to define many of the practices that are standard in the investment world today, and has four decades of experience researching and selecting money managers globally.
Russell has about $161 billion in assets under management (as of 3/31/11) and works with 2,300 institutional clients, 530 independent distribution partners and millions of individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2 trillion in assets under advisement (as of 12/31/2010) and traded $1.4 trillion last year through its implementation services business. The Russell Global Indexes calculate over 50,000 benchmarks daily covering 63 countries and more than 10,000 securities.
Founded in 1936, Russell is headquartered in Seattle, Washington, USA and has offices in Amsterdam, Auckland, Chicago, London, Melbourne, Milan, New York, Paris, San Francisco, Seoul, Singapore, Sydney, Tokyo and Toronto. For more information about how Russell helps to improve financial security for people, visit www.russell.com.
Stay ahead of the news ... Sign up for our email alerts now
Do You Recommend This Story?