TORONTO, Aug. 12 /CNW/ - Russell Investments is pleased to announce that John Formusa has been appointed Director of Institutional Investment Solutions.
Formusa joins Russell with a track record of success in institutional investment management, investment portfolio construction and management, governance and consulting. In this new role, he will be responsible for supporting the services offered to Canadian plan sponsors and other institutional investors on an array of investment strategies and solutions, including implementation services, managed investments and risk management.
"John brings deep knowledge and significant achievements in the institutional market to his new leadership role. The combination of his direct and practical experience in overseeing the development and execution of strategic, legal, operational, and investment decisions will bring great value to clients," said David Feather, President and Managing Director of Russell Investments Canada.
"I am excited to join a company that was recently ranked as the fastest growing money manager in Canada and is strongly positioned for continued expansion given its worldwide reputation for investment excellence. I look forward to working closely with clients and leveraging Russell's renowned global investment resources," said Formusa.
Most recently, Formusa was Vice President, Pension Fund, at Hydro One Inc. Over the past decade, he played a pivotal role in establishing the Hydro One Pension Plan, including implementation of the plan's governance structure and investment manager selection process. He also arranged for specialized transition management and rebalancing overlay services.
Formusa also has a background in portfolio management. While working at Metropolitan Life Insurance Company (later Clarica Life), he managed a $150 million portfolio of diversified real estate assets on behalf of pension plan investors.
Formusa will be based in Russell's Toronto office and will work closely with Russell's Canadian Institutional Solutions team.
About Russell Investments
Founded in 1936, Russell Investments is a global financial services firm that serves institutional investors, financial advisers and individuals in more than 40 countries. The firm has $140 billion in assets under management (as of 06/30/10) in its mutual funds, retirement products, and institutional funds.
Russell Canada was recently named the No.1 fastest growing money manager in Benefit Canada's 2010 Top 40 Money Managers Report. For more information about how Russell helps to improve financial security for people, visit us at www.russell.com/ca.
SOURCE Russell Investments Canada Limited
For further information: For further information: Thien Huynh, 416-640-2529; For real-time news updates, follow @Russell_News on Twitter.