GLOBAL - Russell Investment Group has hired Mercer Global Investment’s US president Barry McInerney as director of client service.
Mercer Global Investments is Mercer’s multi-manager arm, which competes with Russell. In December last year Mercer named Fidelity’s Phil de Cristo as overall president of the division.
McInerney will be based in New York and head a 37-strong team handling Russell’s US institutional clients as well as joining its operating committee and institutional executive committee.
Russell said the move was “in response to increasing needs from institutional clients for strategic advice and investment solutions”. McInerney joins Russell after 19 years at Mercer.
He chaired the US board of the Mercer Trust Co. and was a member of Mercer HR Consulting’s global leadership team, Russell said. He previously led the firm’s investment consulting businesses in Canada, Latin America and the US.
“This appointment marks the latest signal that Russell is in strong growth mode,” it added. “With $171bn under management worldwide, Russell’s assets have more than doubled in the past three years and institutional assets worldwide have grown 120% in that same time period.”
“Barry’s extensive industry experience and strong investment background will help Russell build on an already strong client service organization,” said chief executive Craig Ueland.
Yesterday IPE reported that HSBC Investments had hired Russell Investment Group’s Philip Glaze as its global head of manager research.
Elsewhere, Mercer Human Resource Consulting said it has been appointed by the trustees of Pittards’ two pension schemes to provide actuarial, investment and administration services, including PPF assessment period consultancy.
Both schemes entered a PPF assessment period on March 21.