Russell Investment has new CIO

Friday 8th February 2008

The leader of Russell Investment Group's Australasian investment research and portfolio management has been promoted to head the group's gobal investment team.

Peter Gunning has been appointed Russell Investments global chief investment officer (CIO) and managing director of multi-manager investments, effective mid-February.

He succeeds Tom Hanly, who will move into the role of chief operating officer. Both positions report directly to Russell's president and chief executive officer, Craig Ueland.

Ueland says Gunning not only developed a strong team, but also achieved a superior long-term investment performance track record during his time in the Asia-Pacific region.

"He also has earned his reputation for investment innovation," Ueland says.

"This innovative mindset, as well as his focus on leveraging our strong global relationships with investment managers, makes him very well-suited to drive Russell's investment process going forward."

In his new role, based in Russell's headquarters in Tacoma, Washington, Gunning will assume responsibility for directing Russell's investment management and research activities. He will also join Russell's Executive Committee and will remain a member of the Investment Committee.

Gunning joined Russell in its Sydney office in 1996 and has served in a variety of roles within the investment management and research group in Australia and the Asia-Pacific region. Most recently, he was responsible for the oversight of investment research in that region as well as the management of the Australian, New Zealand, Japanese and Australasian equity and fixed income portfolios.

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