A new chief is taking over Russell Investments [profile], with TA Associates' blessing.

Todd Crockett, managing director of TA, confirms that Michelle Seitz, 52, has been appointed CEO of Russell, succeeding Len Brennan, 57. Brennan has also stepped down as chairman of the board, and Seitz will become chairman on January 1. Brennan will stay on as a strategic advisor to the Seattle-based manager of managers.

Seitz most recently led William Blair Investment Management and served on the executive committee for all of William Blair. A spokesman for William Blair did not immediately return a call for comment on how Seitz's duties are being handled.

Seitz led WBIM for 16 years. A PM and an alumnus of Indiana University Bloomington, she previously worked at Concord Investment Company and Nationsbank.

As of June 30, Russell had more than $277 billion in AUM. TA and Reverence Capital Partners, another private equity firm, bought Russell last year.

TA's Crockett predicts that Seitz's "forward-looking leadership will help propel the firm into a new phase of evolution and growth."

Milton Berlinski, managing partner of Reverence, sings Brennan's praises for his more than two decades of working with Russell (and for his six years of leading it).

Check back for more updates as this story develops. 

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