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Carnegie and Russell in multi-manager tie

SWEDEN – Nordic investment bank Carnegie has signed an agreement with Russell to provide manager of manager funds to its private banking clients.

The Russell funds will be provided to Carnegie’s clients alongside Carnegie’s in-house fund products. Carnegie operates in the areas of securities, investment banking, and asset management and private banking.

Bertil Hult, head of asset management and private banking at Carnegie, said: “We believe that the combination of our in-house expertise and Russell multi-manager funds gives us a compelling advantage in the increasingly competitive private banking market.”

Russell has also officially completed its re-branding. Frank Russell Co., as it has been known, will now do business as Russell Investment Group.

"This effort is part of our company's evolution toward focusing on a widening range of client needs," said Mike Phillips, chairman and chief executive officer of Russell.

"Frank Russell is the name of our company founder, he was grandfather to George Russell, our chairman emeritus, and he was the origin of a company culture that still thrives. But Russell Investment Group more clearly communicates what we are today - global leaders in multi-manager investing, operating a single company with a shared culture and values but diversified capabilities to meet the needs of thousands of clients around the world.”

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