UK/EUROPE- Frank Russell Company has signalled it intends to bring its multi manager approach to the high net worth individual market with the announcement that Vincent Barnouin is joining as managing director of its newly-created private banking services.

Barnouin is concentrating on the high net worth individual market and will initially work on his own. A spokeswoman for Frank Russell says they are likely to add to the team in the future.

Barnouin will be a member of Russell’s European executive committee and will report to Frédéric Jolly, chief executive for Europe, the Middle East and Africa.

He joins from Salomon Smith Barney in London where he was deputy head of the equity division for Europe. Prior to that he was Goldman Sachs’ head of continental European equity sales.

Commenting on his appointment, Barnouin says: “with the challenging market condition, it is the ideal time to be promoting Russell’s multi-manager concept to high net worth individuals either directly or via their advisors or private banks across Europe, the Middle East and Africa.”

Says Jolly, “we will look to draw on our experience in meeting the investment needs of large and demanding institutional clients to allow us to best address the requirements of high net worth individuals.”

The appointment comes two months after Frank Russell announced the opening of a Geneva office as part of its European strategy. Anthony Acampora, who joined from Tendler Berentz International, runs the Swiss operation.