Russell Investments chief executive announces departureBY CASSANDRA BALDINI | FRIDAY, 5 AUG 2022 12:29PM
Read more: Russell Investments, Reverence Capital Partners, TA Associates, Michelle Seitz, Kate El-Hillow, Kevin Klingert, Hamilton Lane, Milton Berlinski, Todd Crockett
Russell Investments chair and chief executive Michelle Seitz plans to step down by year end.
Seitz held the role for five years and will work with Russell's' board and leadership team to transition smoothly. The company said it's hired a recruitment firm to search for her successor.
An issued statement said credited Seitz is credited with driving Russell Investments' growth and enhancing the firm's corporate culture.
"Under her leadership, the company has successfully executed on its growth strategy and significantly expanded operating margins over the past five years. In 2021 she forged an industry leading strategic partnership with Hamilton Lane to deliver seamless client solutions across public and private markets," it said.
Seitz commented on her departure and said it has been an honor to be chief executive, leading a team of professionals while serving global clients.
"Collectively, the Russell Investments team has achieved new records of success, transformed the company into a powerful 'One Russell Investments' global platform, and most importantly enhanced the value proposition to our clients," she said.
"The company is well positioned to deliver continued long-term growth in partnership with TA Associates and Reverence Capital Partners."
TA Associates, along with Reverence Capital Partners, acquired Russell Investments in 2016.
TA Associates managing director Todd Crockett said Seitz made a substantial impact and the firm is grateful for her leadership.
"We look forward to continuing to partner with Russell Investments' talented management team and maintaining momentum in the execution of its business strategy," he said.
Reverence Capital Partners managing partner Milton Berlinski added the firm has built on its legacy of asset management innovation.
"It's recognised OCIO capabilities to further strengthen itself for the future and address the exacting demands of global investors. On behalf of the entire board, we thank Michelle for her numerous contributions and wish her continued success in her next chapter," he said.."
Russell Investments also announced that it has appointed global chief investment officer Kate El-Hillow to serve as co-president, effective immediately.
The statement added El-Hillow has more than 25 years of investment management experience and will continue her role as global chief investment officer.
El-Hillow said: "The team is energised by recent investment innovations and partnerships that expand our platform and our capabilities."
El-Hillow will work alongside the firm's president Kevin Klingert;, both joined in April 2021.
Klingert added: "Kate and I look forward to continuing to work closely together to build on our recent success while adhering to our core value of exceeding client expectations."
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