New Russell Investments CEO touts growth opportunities in Australia
AUSTRALIA, 07 May, 2009 - The new President and CEO for Russell Investments, Andrew Doman, believes “substantial untapped opportunities” have been created for investment organisations following the global financial crisis – with holistic investment advice and multi-faceted partnerships central to the new investing equation.
During a visit to Russell Investments’ Australian operations last week, Mr Doman met with clients and associates and emphasised the integral role Australia and New Zealand play in Russell’s global business strategy and operations.
Discussing the global organisational framework for the firm, which will be publicly announced in the coming weeks, Doman emphasised Russell’s continued commitment to all key areas of its business, including its unparalleled manager research, innovative thought leadership, and key investment services such as consulting, pension management, implementation strategies, and solutions for individual investors and their advisers.
“Russell Investments has distinct advantages that are particularly suited to what is evolving to be a wholly new competitive environment here and around the world,” Mr Doman said. “We believe each of our key differentiators – our manager research capabilities, our world-renowned investment expertise, our exceptional intellectual capital, and our heritage of innovation – have profound relevance for our clients contending with the current challenges. Moreover, these are not capabilities that our competitors can replicate.”
Opportunities in the Australian Market
Discussing Russell’s focus in Australia, Doman said, “Russell remains totally committed to our clients and all aspects of the Australian business and I am very optimistic about our operations in this region.”
This delivery of Russell’s consulting services is expanding worldwide and remains an important foundation for the Australian business along with Russell’s other key service areas. These include investment management services to institutional investors, financial advisers, individual superannuation investors and self managed super fund investors – as well as implementation services.
In Australia, Russell maintains multi-faceted relationships with some of Australia’s largest and most sophisticated firms across a broad range of industries including aviation, mining and logistics. The breadth of Russell’s clientele gives its client service and investment teams a comprehensive insight into the variety of challenges clients face.
Managing Director for Russell in Australia and New Zealand, Chris Corneil, said while the make-up of Russell’s customers and solutions were varied, the organisation’s core capability remained the same.
“Our core strength has always been our unparalleled manager and capital markets research capability. The market will continue to see changes to the way investment services are being provided to large and small investors alike. Today we provide investment consulting capabilities to a far broader array of clients – with the services designed in more tailored ways to meet client needs,” he said.
Mr Corneil also spoke of new tools, research and other value added services being rolled out to meet the needs of clients in these uncertain times. For example, Russell has recently made a significant investment in its global asset allocation model which will enhance its sophistication and, at the same time, better link its regional businesses. Due to become operational in the coming months, the upgraded model significantly expands its coverage of asset classes and investment strategies as well as capturing the behaviour of markets more realistically.
“The global financial crisis has also resulted in transaction costs being at record highs for clients,” Mr Corneil said. “In order to assist clients, Russell also has released new research into this area and is providing a new Enhanced Rebalancing Tool for clients to reduce transaction costs that arise from cash flow management and rebalancing.”
He said providing exceptional intellectual capital was another area of focus where Russell plans to increasingly leverage its cross-border capabilities, as well as continuing to provide Australian-centred research.
“Andrew [Doman] spoke about growth opportunities in this market and we are excited about what is ahead. As the world emerges from the financial instability of the past year, Russell is poised to capitalise on individual and institutional investors’ increased appetite for risk-management and asset/liability matching,” added Corneil.
“You will see Russell take on new business in Australia in the coming year in key areas including consulting, investment management services, transition management as well as the provision of alternative investments such as private equity and global property.”
Issued by Russell Investment Management Ltd ABN 53 068 338 974, AFS Licence 247185 (“RIM”). This document provides general information only and has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation and needs. This information has been compiled from sources considered to be reliable, but is not guaranteed. RIM is part of Russell Investments (“Russell”). You can contact Russell by visiting www.russell.com.au or by phoning (02) 9229 5111. MKT/2031/0509