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July 13, 2011

Russell Investments names Len Brennan president and chief executive officer

SEATTLE, July 13, 2011 - Russell Investments announced today the appointment of Len Brennan as president and chief executive officer of the company. He succeeds Andrew Doman, who will become chairman of the board. Ed Zore who has chaired Russell's board since 2008 will remain on the board as a director.

Brennan recently re-joined Russell as chief executive of the EMEA business, a position he will continue to hold in addition to his new global responsibilities as president and CEO. He will also be a director on Russell's board. His office will be based out of Russell's headquarters in Seattle, and he will spend a significant portion of his time in the firm's London office as well.

Brennan has spent most of his career at Russell, dating back to 1985. Over two decades with the company, he held a number of senior management positions, including most recently as managing director of Individual Investor Services. In this role, he had oversight for Russell's global operations, including responsibility for the firm's global third-party funds distribution business and individual investor services in the United States, Europe, Asia, the Middle East, South Africa, Canada and Australia. Previously, Brennan managed Russell's Toronto and London offices and, notably, launched the firm's first multi-manager investment funds outside the United States. In 2005, Brennan joined Rainier Investment Management, Inc., where he served as president and CEO for six years.

"Russell has held an important place in my life for more than 25 years, so I am deeply honored to accept the position of president and CEO, and I am fortunate to have such a strong global leadership team to work side-by-side with me," said Brennan. "I want to thank Andrew Doman for his many contributions to the company. Russell is clearly a stronger and better positioned firm than it was when Andrew joined us. Looking forward, my priorities for Russell are to constantly evolve our business in order to meet the changing needs of our clients globally, while preserving the DNA that has made this company exceptional for 75 years. I am committed to ensuring that our core values and purpose as an organization remain unchanging guideposts for everything that we do."

Doman leaves an important legacy at Russell. During his two and a half years as president and CEO, he led the firm through one of the most challenging periods that the financial services industry has ever faced. He was able to expand the firm's global footprint, grow its product and service offerings, and help re-ignite the passion for innovation that has long defined Russell. In his new role, Russell will continue to benefit from Doman's experience, knowledge and strategic points of view.

"I believe we have found in Len the right successor to take Russell to the next stage of the firm's growth," said Doman. "Len is one of the architects of what Russell is today. The rest of the board and I are confident that he possesses the right mix of visionary leadership and ties to Russell's rich legacy to effectively lead the organization forward."