Former Russell Investments senior consultant Graeme Bibby has followed Joanna Davison’s path from retrenchment by the firm to a prominent role outside it, emerging as the chief investment officer for one of Australia’s largest insurance companies.

Bibby has just become chief investment officer within the investments department of AIA Australia, which as at December 31 was writing over $410 million of annual group insurance premiums, placing it neck-and-neck with Comminsure to be Australia’s largest group insurer.

Bibby was affected by Russell’s round of downsizing in April, after he’d joined the firm from Mercer in 2007 at the time Russell won a five-year consulting contract with the ACT Treasury.

Also affected was Russell’s former head of investor services, Joanna Davison, who rebounded to become Australia/New Zealand chief for Australia’s largest funds manager, Colonial First State Global Asset Management.

Bibby had started an eponymous investment research consultancy prior to landing the AIA investments role, for which he will remain based in Melbourne.