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SYDNEY, 5 May, 2005 – Global investment and superannuation specialist, Russell Investment Group, has announced that Director of Investment Consulting, David Hartley, will become the sole head of Russell’s growing national investment consulting practice. Russell Investment Consulting is one of Australia’s leading investment advisors with $85bn in Australiansourced assets under advice for large institutional investors including Funds SA, UniSuper, Telstra Super, Sunsuper and BHP Billiton.

The announcement follows the decision by David’s Co-Head of Investment Consulting (Melbourne), Paul Laband, to leave Russell to take up a part time investment management role with UniSuper – a move he has made for personal reasons. Formerly head of investment consulting at Towers Perrin, Mr Laband joined Russell in August 2004 following the merger of Towers Perrin’s Australian business with Russell. He will leave Russell at the end of June 2005.

Mr Stephen Roberts, Russell’s Managing Director Institutional Investment Services, said the organisation was sorry to see Paul go, but wished him well in his new endeavour. “Paul has been an integral part of the Russell consulting team. He has spearheaded a number of changes and innovations during his time at Russell and has been a great business leader. Over the past 10 months Paul and David have worked together to oversee the successful integration of the two consulting practices, which work seamlessly to advise and support some of Australia’s largest institutional investors,” Mr Roberts said.

Russell continues to build its investment consulting team and is actively pursuing new clients and new staff in both the Sydney and Melbourne offices. Over the past year the group has also expanded its consulting services to include a broader range of alternative investment solutions, headed by David MacKenzie in Sydney.

Mr Laband said he was sorry to leave Russell at such an exciting stage for the group. “The past year has been one of real progress and challenge in building Australia’s pre-eminent investment consulting business, and I know I leave the team and Russell clients in great hands. At 57, I am looking forward to returning to a direct investing role that will provide the flexibility to spend more time with my family, both here and in the UK,” he said.

David Hartley joined Russell as Director of Investment Consulting in 2003. Prior to joining Russell he spent more than 10 years with Mercer Investment Consulting, where he held positions including Chief Investment Officer for the Mercer Retirement Trust; head of Mercer’s Sydney Investment Consulting Practice; and was a senior member of the Mercer Investment Consulting Practice with responsibility for a number of multi-million dollar superannuation funds. Russell SuperSolution was recently awarded the top ‘5 Apples’ rating in the medium and large superannuation funds category by independent consultant Chant West Financial Services. Russell was also recently named the ‘preferred’ multi-manager provider in Australia by independent research house Lonsec.

Russell SuperSolution was recently awarded the top ‘5 Apples’ rating in the medium and largesuperannuation funds category by independent consultant Chant West Financial Services.
Russell was also recently named the ‘preferred’ multi-manager provider in Australia by independent research house Lonsec.