Russell Investments has chosen the former head of Blackrock’s North America institutional business, Zach Buchwald, to be its next chief executive.
Buchwald (pictured) takes up the mantle from Michelle Seitz, who left the position towards the end of last year. Buchwald will be tasked with overseeing the firm’s growth plans.
He spent nearly 15 years at Blackrock and, prior to being head of institutional, he led the asset manager’s financial institutions group, having also helped to establish its retirement solutions and financial markets advisory platforms.
Before joining Blackrock in 2008, he served as a managing director at Morgan Stanley, working largely within the firm’s fixed income division.
At Russell, which has a London office in St James’s, Buchwald will be based at the global headquarters in Seattle, taking up the role on 1 May. He will also chair the firm’s board.
Kate El-Hillow, president and chief investment officer, said the hire was great news for the firm’s clients: “I look forward to working with Zach, especially benefiting from his stellar record of innovating client solutions to deliver on their desired investment outcomes.
“Zach is expertly prepared to further the firm’s innovation success – from cutting-edge asset allocation and unparalleled money manager insights to some of the earliest forays into factor exposures and a competitively recognised implementation capability – to address the exacting demands of investors globally.”