TORONTO, Jan. 22 /CNW/ - Russell Investments announced today that its
board of directors has named Andrew S. Doman as the company's new chief
executive officer, effective February 2, 2009.
Doman succeeds John Schlifske, who was named president and CEO in June
2008. Schlifske will continue to serve as the company's president in the near
term to ensure a smooth and orderly business transition. Subsequently,
Schlifske will return to Russell's parent company, Northwestern Mutual, as
planned. Doman will also join Russell's board of directors.
Doman has a Canadian connection, attending the University of Ottawa
(magna cum laude in economics) during his student years. He comes to Russell
with a global track record of success that has provided him with both a deep
understanding of and expertise in the financial services industry, combined
with exceptional leadership and business-building skills. Most recently, Doman
was a founding director of McKinsey & Company Inc.'s UK-based European Asset
Management practice. His clients spanned North America, Europe, the Middle
East and Asia and covered the broad spectrum of financial services, including
asset management, retail banking, wholesale banking, hedge funds, investment
banking, private equity, life insurance, general insurance and financial
"In selecting Andrew as Russell's CEO, we were overwhelmingly impressed
by his deep knowledge of the asset management industry and the combination of
his strategic, operational and managerial experience," said Schlifske. "He is
a renowned business builder and the ideal candidate to lead this great company
amidst the challenges of today's business environment, and as it embarks upon
its next chapter of success."
"Russell is an extraordinary company at an extraordinary point in
history," said Doman. "There are challenges, clearly, for all financial
services providers. But not every company has the heritage, brand recognition
and worldwide reputation for investment excellence that Russell has built and
earned over seven decades. I believe Russell is well positioned to navigate
the financial crisis, and come out of it stronger. It is a truly global
company and it has a culture of integrity that is distinct and valuable. I am
honored and excited to be joining Russell and look forward to working closely
with our clients and associates."
In his role at McKinsey & Company, Doman's client assignments spanned a
range of disciplines, including organizational and market development,
strategy, globalization, risk management, product design and development, and
Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. With nearly US$213 billion in
assets under management (as of 3/31/08), Russell serves individual,
institutional and advisor clients in more than 40 countries. Russell provides
access to some of the world's best money managers. It helps investors put this
access to work in corporate defined benefit and defined contribution plans,
and in the life savings of individual investors.
Founded in 1936, Russell Investments is a subsidiary of Northwestern
Mutual Life Insurance Company and headquartered in Tacoma, Wash. Russell has
principal offices in Amsterdam, Auckland, Johannesburg, London, Melbourne, New
York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell Investments Canada Limited is a wholly-owned subsidiary of Frank
Russell Company. For more information, please go to www.russell.com/ca.
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past performance may not be repeated.
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securities or investment advice, nor an opinion regarding the appropriateness
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For further information: Contact: Thien Huynh, (416) 640-2529