North American Industry leader joins Russell's Canadian Institutional
Gelly to lead the way in bringing best-in-class fiduciary solutions to
Canadian pension plans that are looking for a more comprehensive
TORONTO, June 17, 2013 /CNW/ - Russell Investments Canada has made a
major investment in its institutional business, with the appointment of
Joseph Gelly as Managing Director, Canada Institutional. Mr. Gelly will
be leading efforts to bring Russell's multi-asset fiduciary solutions (e.g. investment outsourcing), implementation services and consulting to the Canadian institutional marketplace.
"Russell has worked as a consultant and an asset manager in the Canadian
institutional marketplace for several decades, but we see a paradigm
shift beginning to emerge. Executives are concerned about funded status
volatility, left-tail events impacting company profitability, lack of
infrastructure to adequately review risks and make necessary
adjustments, and changing measures of success that are geared more
toward outcomes than exceeding return benchmarks," said David Feather,
president and chief executive officer, Russell Investments Canada.
"Joseph has worked extensively with organizations to address these
issues, and we are excited to have him lead the way in bringing
best-in-class fiduciary solutions to the Canadian institutional
Gelly, who will lead the veteran institutional team in Toronto, whose
senior members include Bruce Curwood, director, investment strategy,
and Tom Lappalainen, senior consultant, joins from Russell's Americas
Institutional business where he most recently served as managing
director, fiduciary solutions. Gelly has more than 25 years of industry
experience, with an extensive background providing customized
investment solutions to corporate, multi-employer, public sector and
non-profit clients. In addition to driving awareness and consideration
of fiduciary solutions for institutional investors, Gelly will provide
strategic direction on best practices in governance, implementation and
investment discretion to Russell's Canadian clients.
"We see the trend of fiduciary solutions, which has taken hold in the
U.S., starting to emerge in Canada. Many Canadian pensions are facing
very similar challenges to their U.S. and European counterparts," said
Gelly. "Few organizations have the time, resources and governance
structure required for daily portfolio oversight, optimization at the
investment portfolio level to improve risk-return trade-offs and
execution of real-time risk management and opportunistic portfolio
allocations. For many plans, strategic advice and manager selection
aren't enough anymore to achieve their objectives, given the challenges
presented by market volatility and the low interest rate environment.
That's where a true fiduciary solutions provider can add value in
helping them to reach their desired outcomes."
Russell has worked with pensions, non-profits and healthcare systems as
a fiduciary solutions provider for more than 30 years.
About Russell Investments
Russell Investments (Russell) is a global asset manager and one of only
a few firms that offers actively managed multi-asset portfolios and
services that include advice, investments and implementation. Working
with institutional investors, financial advisors and individuals,
Russell's core capabilities extend across capital market insights,
manager research, portfolio construction, portfolio implementation and
Russell has more than $173 billion in global assets under management (as
of 3/31/2013) and works with over 2,500 institutional clients,
independent distribution partners and individual investors globally. As
a consultant to some of the largest pools of capital in the world,
Russell has $2.4 trillion in global assets under advisement (as of
6/30/2012). It has four decades of experience researching and selecting
investment managers and meets annually with more than 2,200 managers
around the world. Russell traded more than $1.4 trillion in 2012
through its implementation services business. Russell also calculates
approximately 700,000 benchmarks daily covering 98% of the investable
market globally, which includes more than 80 countries and more than
10,000 securities. Approximately $4.1 trillion in assets are
benchmarked to the Russell Indexes.
Headquartered in Seattle, Washington, Russell operates globally,
including through its offices in Seattle, New York, London, Paris,
Amsterdam, Sydney, Melbourne, Auckland, Singapore, Seoul, Tokyo,
Toronto, Chicago, San Diego, Milwaukee and Edinburgh. For more
information about how Russell helps to improve financial security for
people, visit www.russell.com or follow @Russell_News.
Nothing in this publication is intended to constitute legal, tax,
securities or investment advice, nor an opinion regarding the
appropriateness of any investment, nor a solicitation of any type. This
information is made available on an "as is" basis. Russell Investments
Canada Limited does not make any warranty or representation regarding
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trademarks or registered trademarks of Frank Russell Company, used
under license by Russell Investments Canada Limited.
Russell Investments Canada Limited is a wholly owned subsidiary of Frank
Russell Company and was established in 1985. Russell Investments Canada
Limited and its affiliates, including Frank Russell Company, are
collectively known as "Russell Investments".
Copyright © Russell Investments Canada Limited 2013. All rights
reserved. This material is proprietary and may not be reproduced,
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SOURCE: Russell Investments Canada Limited
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