Russel Investments has recruited a former member of Access Capital Advisor’s portfolio construction and risk team as a Melbourne-based consultant.
Frank Russo, formerly a senior analyst at Access, would begin advising Russell clients across asset classes from May 2, confirmed Greg Liddell, head of Russell’s investment consulting business in Australia.
Liddell said Russo was a good “cultural fit” with the consulting team and his experience on the board of the AMP Capital Infrastructure Fund of India would provide it with insight into this asset class.
At Access, Russo advised full-service clients, such as MTAA Super and Prime Super, in addition to the investors with which it had strategic relationships, such as NSW State Super and Cbus.
The portfolio construction and risk team is led by Ross Blakers, who assumed the role after former boss Tim Ridley exited in November to work in Trish Donohue’s investment team at Cbus, which has a contract with the deal-making side of Access’ infrastructure business.
Alexander Austin, the consultant’s CEO, said Russo’s duties would be shared among the remaining eight members of the team and a decision about whether to replace him had not yet been made.
Liddell said the hire took Russell’s consulting headcount 17, seven of whom were based in Melbourne to service clients including IOOF, the Australia Post Superannuation Scheme and the four BHP Billiton corporate funds, which are in the process of merging into a single entity.