Board of Directors

The Board of Directors of Total Risk Management Pty Ltd (TRM), the Trustee of the Russell Investments Master Trust (the Fund) is made up of five Trustee Directors.

Meet our Trustee Directors

patricia montague

Patricia Montague joined the Board on 1 October 2020 and was appointed Chair on 6 December 2023. Patricia has over 30 years senior management experience in financial services with significant depth in wealth management and banking. Patricia is also on the Board of Hume Bank, where she is the Chair of the Remuneration and Succession Committee and a member of the Risk Committee. Patricia has a Bachelor of Arts (Pure Mathematics and Economics) from Queens University of Belfast and is a member of the Australian Institute of Superannuation Trustees (AIST) and the Australian Institute of Company Directors (AICD).

Patricia also serves on the People & Culture Committee and Member Services & Operations Committee.

Director appointed 01-10-2020. Chairperson appointed 06-12-2023

Alexis Dodwell


Alexis Dodwell
 joined the Board on 18 December 2015. Alexis is a risk, compliance, and corporate governance specialist, having worked in the financial services industry for over 20 years, most recently at Perpetual Limited and the Commonwealth Bank of Australia. Alexis has a Bachelor of Laws, Bachelor of Economics, and Graduate Diploma in Applied Corporate Governance and has completed the Director Course at the Australian Institute of Company Directors. She has a portfolio of Compliance Committee and Non-Executive Director roles.

Alexis also serves on the Audit, Risk & Compliance Committee and People & Culture Committee.

Director appointed 18-12-2015

Keith Knapman


Keith Knapman
 joined the Board on 1 June 2020. Keith has more than 30 years’ experience in the superannuation investment industry with extensive experience in all aspects of investment and actuarial consulting. This includes funding, insurance and compliance advice, liability driven investment solutions, and benefit redesigns including defined benefits to defined contribution conversions, successor fund transfers and transfers resulting from mergers and acquisitions. Keith has a Bachelor of Arts from Macquarie University and is a former Fellow of the Institute of Actuaries of Australia.

Keith also serves on the Audit, Risk & Compliance Committee, the Investment Committee and the Member Services & Operations Committee.

Director appointed 01-06-2020

 Peter Gunning


Peter Gunning
, CFA serves as Vice Chairman. In this role, Peter focuses on ensuring that Russell Investments leverages all of the firm’s wide array of investment capabilities and expertise to fully benefit clients. In addition, he serves on Russell Investments’ executive committee. Previously, Peter served as Global Chief Investment Officer, with responsibility for all aspects of the firm’s investment division worldwide. Peter Gunning joined the firm’s Sydney office in 1996.

Peter also serves on the Investment Committee and Member Services & Operations Committee.

Director appointed 06-12-2023

Ben Walsh

Ben Walsh joined the Board on 2 July 2024. Ben has more than 30 years' experience in financial services including in Superannuation and Insurance. He was the Chief Life and Health Insurance Officer, and also the Chief Investment Officer at AIA Australia, was the Chief Country Officer at Marsh McLennan Companies (Australia) and was the Managing Director & CEO at Mercer Australia and New Zealand. Ben has a Bachelor of Commerce (Honours) from Melbourne University and a Master of Business Administration from the Melbourne Business School. He is a Member of the Australian Institute of Company Directors and has a portfolio of Non-Executive Director, Board Chair and Committee Chair roles.


Ben also serves on the Investment Committee and the Audit, Risk and Compliance Committee.

Director appointed 02-07-2024

Ross Barry

Ross Barry joined the Board on 16 September 2025. Ross has over 25 years’
experience as an investment professional in the Superannuation industry.

Ross was previously the Chief Investment Officer for Spirit Super, one of
Australia’s largest industry superannuation funds as well as a senior investment
leader for Aware Super.

Ross has also served as an independent Director of the Successful Palisade
Diversified Infrastructure Fund. He holds a PhD in Applied Finance from
Macquarie University.

Ross serves as both a member of the Investment Committee and the People and Culture Committee.

Director appointed 16-09-2025


Retirement dates of TRM board members

  • Michael Gordon retired as a director, effective from 30-06-2021.
  • Marian Carr retired as a director, with effect from 30-11-2021.
  • Luan Atkinson retired as a director, with effect from 15-08-2023.
  • James (Jim) O’Connor retired as a director and Chair, effective 05-12-2023.
  • Magali Azema-Barac retired as a director, with effect from 20-05-2024
  • Jocelyn Furlan retired as a director, with effect from 07-03-2025

Russell Investments' ownership is composed of a majority stake held by funds managed by TA Associates Management, L.P., with a significant minority stake held by funds managed by Reverence Capital Partners, L.P. Certain of Russell Investments' employees and Hamilton Lane Advisors, LLC also hold minority, non-controlling, ownership stakes.

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