Head of Russell’s retail investor services business, Chris Corneil, is to head up the new Investor Services Group; an amalgamation of Russell’s former institutional and retail advisor businesses.
Russell managing director Australasia, Alan Schoenheimer, said the restructure was designed to provide “a more seamless service” for the increasing number of clients looking for services that span the institutional/retail divide. “We find a growing number of our institutional clients are looking to provide advice services to their individual members, while our advisor clients are seeking to access Russell’s institutional investment consulting services,” Schoenheimer said. Under the new structure Russell will not be looking to replace former head of institutional business, Stephen Roberts, who departed the company in January.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
