Russell Hires Assistant Director, News Business Development (Russell.com)

Russell Hires Assistant Director, News Business Development
James F. Shields, Jr. To Extend Strategic Growth of U.S. Distribution Business

TACOMA, Wash. — March 18, 2003 — Frank Russell Company, a global leader in multi-manager investment services, has hired James F. Shields, Jr. as assistant director, new business development, for the firm's U.S. distribution business. Shields, formerly director, Investment Services, Friedman, Billings, Ramsey Group, will be based in Philadelphia, Pa., and will be responsible for evaluating and developing new distribution relationships with registered investment advisors (RIAs) in the Eastern U.S. region.

"We are aggressively growing our distribution network and this means putting in place the resources to demonstrate to potential distributors that we understand the challenges and opportunities they face, and we have the products and services to help them grow their business," said Rich Jasper, director, Strategic Alliances, Russell Investment Group. "Jim is a key addition because he brings broad experience in marketing to financial intermediaries, and his expertise will allow him to make an immediate contribution to our efforts."

At Friedman, Billings, Ramsey Group, Shields marketed and sold proprietary financial solutions to independent broker/dealer firms and RIAs. He also handled the introduction and marketing of alternative investment vehicles to high net worth clients and institutions via broker/dealer firms and registered investment advisors.

Shields has also held positions at FOLIOfn Institutional and SEI Investments, Inc. where he was responsible for marketing to financial intermediaries. He holds a Bachelor of Arts from the University of Pennsylvania, a Master's degree in Business Administration from Temple University and NASD series 7, 63 and 65 licenses.

Russell delivers its investment programs by joining forces with some of the leading financial services organizations throughout the world. In the U.S., Russell's advisor network includes more than 80 financial firms. Russell is committed to the strategic growth of this network and is selectively seeking new distributors that set their business goals high and share Russell's approach to investing.

Russell provides its multi-manager investment approach by evaluating top investment managers from throughout the world, and then constructs funds and separate accounts that offer a strategic mix of these specialist managers. The resulting multi-manager portfolios are aimed at improving diversification, enhancing long-term performance and managing risk against the most relevant benchmarks.

About Russell
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $76 billion in assets and advises clients worldwide representing more than US$1.6 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.

Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of Northwestern Mutual.