Russell Investments names new chief
Dubai, July 18, 2011
Russell Investments has appointed Len Brennan as president and chief executive officer of the company. He succeeds Andrew Doman, who will become chairman of the board.
Ed Zore who has chaired Russell’s board since 2008 will remain on the board as a director.
Brennan recently re-joined Russell as chief executive of the EMEA business, a position he will continue to hold in addition to his new global responsibilities as president and CEO. He will also be a director on Russell’s board. His office will be based out of Russell’s headquarters in Seattle, and he will spend a significant portion of his time in the firm’s London office as well.
Brennan has spent most of his career at Russell, dating back to 1985. Over two decades with the company, he held a number of senior management positions, including most recently as managing director of Individual Investor Services. In this role, he had oversight for Russell's global operations, including responsibility for the firm’s global third-party funds distribution business and individual investor services in the US, Europe, Asia, the Middle East, South Africa, Canada and Australia.
Additionally, Pascal Duval has been named president of EMEA, in addition to his responsibilities for Southern Europe and the Middle East. He will work in concert with Brennan on the strategic direction of the business in the region, said a statement.
“Russell has held an important place in my life for more than 25 years, so I am deeply honoured to accept the position of president and CEO, and I am fortunate to have such a strong global leadership team to work side-by-side with me,” said Brennan.
Doman leaves an important legacy at Russell. During his two and a half years as president and CEO, he led the firm through one of the most challenging periods that the financial services industry has ever faced, the stateent said. He was able to expand the firm’s global footprint, grow its product and service offerings, and help re-ignite the passion for innovation that has long defined Russell. In his new role, Russell will continue to benefit from Doman’s experience, knowledge and strategic points of view, it said.
“I believe we have found in Len the right successor to take Russell to the next stage of the firm’s growth,” said Doman. “Len is one of the architects of what Russell is today. The rest of the board and I are confident that he possesses the right mix of visionary leadership and ties to Russell’s rich legacy to effectively lead the organization forward.” - TradeArabia News Service