Peter Gunning promoted to Global CIO of Russell Investments
February 6, 2008 – Russell Investments has named Peter Gunning as its new global chief investment officer (CIO) and managing director of multi-manager investments. Previously CIO for the Asia-Pacific region, Gunning will succeed Tom Hanly, who will move into the role of chief operating officer. Gunning will report directly to Russell’s president and chief executive officer, Craig Ueland.
In his new role, based in Russell’s headquarters in Tacoma, USA, Gunning will assume responsibility for directing Russell’s global investment management and research activities. This encompasses a team of close to 300 investment professionals across four continents, including Australia. He will also join Russell’s Executive Committee and will remain a member of the Investment Committee.
Russell Managing Director Australasia, Alan Schoenheimer, said Gunning would continue to dedicate himself to the challenges of the local region in his new global role. “This new role is a great opportunity for Pete as well as for the Australian business and our clients. We can be assured that our global CIO will have a very clear understanding of the local market and challenges ahead,” Mr Schoenheimer said. “The move also reinforces Russell's truly global nature, and the firm’s commitment to career development regardless of location.”
Gunning has been with Russell in Australia for 12 years and during this time has spearheaded the development of a powerful and dedicated investment team in the Asia-Pacific region. The strong and experienced local team - which includes Symon Parish, James McSkimming, Kathy Cave and Clive Smith - will continue to take on the day-to-day Investment Management and Research responsibilities. The local team will continue to report to Gunning during his transition to the new role.
Russell’s president and chief executive officer, Craig Ueland, said, “Pete has achieved a superior long-term investment performance track record during his time in the Asia-Pacific region. He also has earned his reputation for investment innovation. This innovative mindset, as well as his focus on leveraging our strong global relationships with investment managers, makes him very well-suited to drive Russell’s investment process going forward.”
Gunning is expected to relocate to Russell’s head office in Tacoma, Washington, in mid February. Russell will be announcing a replacement for Mr Gunning in due course.
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