Russell Investments [profile] has hired Jeff Hussey to serve as its global chief investment officer. Hussey has put in more than two decades with the Seattle-based global asset management firm. He previously held the role of chief investment officer, global fixed income.

Hussey is succeeding Pete Gunning, who assumed the role of Global CIO in 2008. Gunning is still working for Russell, but in Sydney, Australia now, as CEO of Asia-Pacific, succeeding Alan Schoenheimer, who is transitioning to a non-executive advisory role.

Taking over Hussey's previous post as chief investment officer, global fixed income, is Gerard Fitzpatrick, currently a senior fixed income PM at Russell.

Hussey will continue to serve as a member of Russell�s executive Committee and report to CEO Len Brennan.

See the full press release below.

Company Press Release
Russell appoints Jeff Hussey as global chief investment officer
Pete Gunning to lead Asia-Pacific business; Russell veteran Alan Schoenheimer transitions to new role

SEATTLE, August 6, 2013 � Global asset manager Russell Investments announced today the appointment of Jeff Hussey to the role of global chief investment officer. Pete Gunning, who held the global CIO role since 2008, will return to his native Australia to lead the firm�s vitally important Asia-Pacific region. In his new role, Gunning will succeed Chief Executive, Asia-Pacific Alan Schoenheimer, a 22-year Russell veteran, who will transition to a non-executive advisory role. In addition, Gerard Fitzpatrick, currently a senior fixed income portfolio manager, will succeed Hussey as chief investment officer, global fixed income. These changes will take effect on October 1, 2013.

As global chief investment officer, Seattle-based Hussey will direct Russell�s investment management, implementation and research activities worldwide. He brings to the role more than two decades of asset management experience with Russell, including a decade as CIO, fixed income, during which he had direct responsibility for more than $60 billion in assets and oversight of the firm�s cash management strategies. Hussey will also serve on Russell�s Executive Committee.

�Jeff has deeply rooted investment experience in a variety of vital leadership, portfolio management and analyst roles at Russell, including a successful 12-year track record with our bond funds,� said CEO Len Brennan. �He�s a 20-year veteran at Russell steeped in the rich tradition of our multi-asset investing expertise.�

Meanwhile, Gunning will return to Sydney to manage the Asia-Pacific region, which is integrally important to Russell�s business. He brings a mix of global perspective and in-depth understanding of the region to the chief executive, Asia-Pacific role. Under his tenure as global CIO, he helped transform the firm�s investment proposition to focus on world-class multi-asset solutions and successfully led Russell�s asset management and portfolio implementation teams through a period of historically challenging economic and market conditions. Gunning, who joined Russell in its Sydney office in 1996, will have responsibility for the firm�s business activities in Japan, Korea, China, Taiwan, Singapore, Australia and New Zealand. He will continue to serve as a member of Russell�s Executive Committee and report to CEO Len Brennan.

�The appointment of our former global chief investment officer, an extraordinary investment professional, to lead the Asia-Pacific business demonstrates Russell�s commitment to this region,� said Brennan.

�Pete�s knowledge of Asia-Pacific markets and experience as a global CIO will prove valuable as Russell pursues its growth strategy in the region to deliver customized multi-asset solutions to investors.�

For his part, Alan Schoenheimer has made a number of significant and valuable contributions to Russell�s success over the past 22 years, serving most recently as chief executive, Asia-Pacific.

�Throughout his career at Russell, initially as a senior consultant in our Sydney office and later in institutional and retail funds leadership positions, Alan served our clients with an emphasis on bringing Russell�s innovative multi-asset, outcome-oriented solutions to bear across a wide range of asset classes and strategies,� said Brennan, adding that Schoenheimer will continue to work with him on strategic projects in a non-executive role at the firm.

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