Russell Investments bolsters independent super board
- New directors strengthen the trustee’s governance, risk management and investment experience.
- New super mobile app will give members the ability to actively manage their super, including choosing a desired future lifestyle and retirement income goal.
AUSTRALIA, 12 July 2016 - Russell Investments announced today the appointments of Alexis Dodwell and Michael Gordon to serve as independent directors on its superannuation trustee board, further strengthening the trustee’s governance, risk management and investment experience for the benefit of its superannuation clients. Both appointments are currently in effect.
Russell Investments provides superannuation outsourcing, including its award-winning master trust and tailored outsourcing services through its wholly owned subsidiary Total Risk Management (TRM). With these appointments, TRM continues its tradition of relying on industry expert directors and is now fully independent.
Ms Dodwell is a risk, compliance and corporate governance specialist. She was General Manager, Risk and Compliance at Perpetual Limited. Alexis has also held positions with CBA, KPMG and Pricewaterhouse Coopers. Mr Gordon was the Group Executive of Perpetual Investments and has previously held chief investment officer roles with Fidelity International, BNP Paribas and Schroders both in Australia and internationally. Michael is now the chairman of the TRM Investment Committee.
"These two industry veterans help assure continued, strong, independent oversight for our members with experience in superannuation, investments, risk management and governance," said Russell Investments CEO Asia Pacific Peter Gunning. "Alexis brings considerable strength in both governance and risk management, and Michael has exemplary experience as a chief investment officer."
Gunning added that TRM is integral to Russell Investments' continued success in the superannuation sector, helping to assure the firm’s mission of putting members’ interests first. "For over 10 years, TRM has served the needs of members from some of Australia's largest employers such as CSR, Arrium and News Corporation.
"The board additions will support the company’s initiatives to continue to deliver a world-leading investment approach combined with a highly personalised service for members," continued Mr Gunning. "Later this year, we will be launching our new super mobile app, co-designed with our members to directly meet their needs. The mobile app will give members the ability to actively manage their super, including choosing a desired future lifestyle and retirement income goal, tracking their progress towards that goal and comparing their balance with other people like them."
TRM currently acts as trustee for approximately AUD$10 billion in assets. The two new appointees joined David Solomon (who serves as chairman), Marian Carr and Jim O’Connor. David is a qualified actuary, with over 30 years' experience as a consulting actuary and superannuation adviser. Marian has over 30 years’ experience in the funds management industry. She was previously the deputy managing director of MIR Investment Management Pty Limited. Prior to his appointment as a director of TRM, Jim was the Plan Secretary for the Westpac Staff Superannuation Plan. Jim is the chairman of the TRM Audit, Risk and Compliance Committee.
"Ms Dodwell and Mr Gordon help ensure TRM upholds best practice in board composition and background, which is important in the current regulatory climate," concluded Mr Gunning. "With a strong, experienced team, Russell Investments is as well placed as ever to compete on efficiency and quality alongside other leaders in this market."
About Russell Investments
Russell Investments, a global asset manager, is one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisers and individuals working with their advisers—using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures—to help each achieve their desired investment outcomes.
Russell Investments has more than AUD$321 billion in assets under management (as of 3/31/2016) and works with more than 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell Investments has more than US$2.3 trillion in assets under advisement (as of 12/31/2015). The firm has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell Investments also traded more than US$1.7 trillion in 2015 through its implementation services business.
Headquartered in Seattle, Washington, Russell Investments operates globally, including through its offices in Seattle, New York, London, Paris, Amsterdam, Milan, Dubai, Sydney, Melbourne, Auckland, Seoul, Tokyo, Shanghai, Beijing, Toronto, Chicago, Milwaukee and Edinburgh. For more information about how Russell Investments helps to improve financial security for people, visit russellinvestments.com/au
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First Used:July 2016