Russell continues expansion for super clients
Institutional team adds further specialists to service growing demand from large superannuation clients
SYDNEY, 17 May, 2007 - Global investment and superannuation specialist, Russell Investment Group, today announced the further expansion of its institutional team with the appointment of two senior employees. The appointments come as Russell experiences growing demand for superfund advisory services as the superannuation landscape continues to evolve.
Stephen Roberts, Managing Director Institutional Investor Services, said that the appointments confirmed Russell's commitment to providing high quality advice in areas such as investment and actuarial to its institutional clients.
"Russell is highly focused on helping all our clients secure their members' retirement through tailored, superannuation solutions," he said. "For many of our larger clients this means providing access to advice from experienced investment consultants and actuaries to allow those funds to build leading edge investment portfolios and to effectively manage their superannuation liabilities. And this demand is growing as the Australian superannuation market becomes more diverse and more competitive. The addition of these two highly experienced professionals to our team will further enhance this service for our clients."
Peter Worcester joins Russell as Senior Consultant in the Alternative Assets and Strategies team based in Melbourne. Also based in Melbourne, the appointment of Tony Miller as Senior Consultant has bolstered the Actuarial and Benefits team.
Reporting to Dr. Andrew Goddard, Director of Alternative Assets and Strategies, Mr Worcester will be responsible for the identification, research and due diligence on alternative investment opportunities. Mr Worcester will also be charged with increasing client awareness and the penetration of alternative asset consulting into Russell's client and prospect bases. Peter's extensive and high-level experience across the financial services industry would be a major contribution in developing and maintaining Russell's market strength in this key area.
Reporting to Steve Schubert, Director of Actuarial and Benefits Consulting, Tony Miller will be based in the Group's Melbourne office. Mr Miller will act as the actuary and consultant to several of Russell's key clients - providing advice on defined benefit funding, liability management and accounting disclosures for employers. Stephen Roberts said that with more than thirty years superannuation industry experience, Mr Miller's extensive knowledge would further strengthen Russell's pre-eminent position in the actuarial market as the actuary to most of the largest corporate and industry defined benefit superannuation funds.
Mr Roberts said "We are delighted to welcome on board two new employees of such high calibre. Peter and Tony's extensive experience in the industry will allow for the provision of a global view of any issue and see the implementation of tailored advice to service each individual case."
Peter Worcester has more than thirty years experience in financial services, including senior management positions with Commonwealth Investment Management (CIM) Ltd and William M. Mercer and a twenty year stint at AXA (National Mutual). Most recently, Mr Worcester reactivated his own consulting firm to service an array of high profile clients. His consulting work centered on business strategy, product positioning, portfolio amalgamations and the linkages between investment products and wholesale investment pools.
Peter has been a Fellow of the Institute of Actuaries of Australia since 1988. He holds a Bachelor of Arts in Actuarial Studies from Macquarie University, and a Bachelor of Science in Mathematics and Statistics from the University of Melbourne. He has also been a member of the Investment Committee of the Walter and Eliza Hall Institute of Medical Research since 1987.
Tony Miller also brings to Russell, more than thirty years experience working in all aspects of the superannuation industry. Most recently, Mr Miller was employed in the specialist superannuation practice of Deloitte. Prior to this, he was a Principal of specialist consulting firm Butler Walker Actuaries, a Principal and Worldwide Partner of Mercer Human Resource Consulting and employed at National Mutual Life Association for fourteen years.
Tony holds a Bachelor of Mathematics (Hons) from the University of Adelaide, is a Fellow of the Institute of Actuaries and a Fellow of the Institute of Actuaries of Australia.
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