Russell Investments Announces CEO Transition Process
Russell Investments today announced that Michelle Seitz plans to step down as Chairman & Chief Executive Officer, concluding five successful years of leadership and growth. Ms. Seitz will transition by year-end and will work with Russell Investments' Board of Directors and its leadership team on a seamless process. The company has hired a leading recruitment firm to assist with the search for a successor, prioritizing growth and delivering on the firm's strategy and vision.
"It has been an honor to be the CEO of such an iconic company, leading a team of world-class professionals while serving our global clients," said Ms. Seitz. "Collectively, the Russell Investments team has achieved new records of success, transformed the company into a powerful 'One Russell Investments' global platform, and, most importantly, enhanced the value proposition to our clients. The company is well positioned to deliver continued long-term growth in partnership with TA Associates and Reverence Capital Partners."
Ms. Seitz is credited with driving Russell Investments' growth and enhancing the firm's corporate culture. Under Ms. Seitz's leadership, the company has successfully executed on its growth strategy and significantly expanded operating margins over the past five years. In 2021, she forged an industry-leading strategic partnership with Hamilton Lane to deliver seamless client solutions across public and private markets.
"Michelle has made a substantial impact and we are grateful for her leadership," said Todd R. Crockett, Managing Director at TA Associates, which, along with Reverence Capital Partners, acquired Russell Investments in 2016. "We look forward to continuing to partner with Russell Investments' talented management team and maintaining momentum in the execution of its business strategy."
Milton R. Berlinski, Managing Partner of Reverence Capital Partners, added, "The firm has built on its legacy of asset management innovation and recognized OCIO capabilities to further strengthen itself for the future and address the exacting demands of global investors. On behalf of the entire board, we thank Michelle for her numerous contributions and wish her continued success in her next chapter."
Russell Investments also announced that it has appointed Global Chief Investment Officer Kate El-Hillow to serve as Co-President alongside Kevin Klingert, the firm's President, effective immediately. Ms. El-Hillow has more than 25 years of proven success in investment management roles with deep expertise in outsourced CIO investment solutions and multi-asset portfolio management. Ms. El-Hillow will continue to serve as Global Chief Investment Officer.
Ms. El-Hillow and Mr. Klingert both joined Russell Investments in April 2021, and they will continue to work with the rest of the executive team to further the firm's momentum on priorities developed under Michelle's leadership with an unfaltering focus on solving our clients' most pressing investing needs.
"The team is energized by recent investment innovations and partnerships that expand our platform and our capabilities," said Ms. El-Hillow. Mr. Klingert added, "Kate and I look forward to continuing to work closely together to build on our recent success while adhering to our core value of exceeding client expectations."
About Russell Investments
Russell Investments is a leading global investment solutions firm providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 86-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve the financial security of its clients. The firm has $299.2 billion in assets under management (as of 6/30/2022) for clients in 32 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 19 cities around the world, including in New York, London, Toronto, Tokyo, and Shanghai