Zach Buchwald to lead Russell Investments as Chief Executive Officer and Chairman

Seattle, 2023-02-08 – Leveraging significant leadership experience in asset management, Buchwald, former head of BlackRock’s North America institutional business, will focus on driving the global investment solutions firm’s next phase of growth

Russell Investments announced today that Zach Buchwald has been selected to serve as Chief Executive Officer and as Chairman of the firm's board of directors. Based in the firm's global headquarters in Seattle, Buchwald will take the helm effective May 1 as Russell Investments' eighth CEO in 87 years. He will succeed Michelle Seitz, who departed the firm late last year.

As CEO, Buchwald will drive Russell Investments' continued growth and results at a time when the firm's client-focused approach is directly aligned with the intensifying need for outcome-oriented solutions, and when the global capital markets are demanding agile, risk-managed total portfolio management.

"We believe Zach is the ideal leader to further Russell Investments' legacy of innovation in asset management," said Todd R. Crockett, a managing director at TA, which, along with Reverence Capital Partners, acquired Russell Investments in 2016. "We are excited to welcome Zach and fully expect his leadership, along with President and Chief Investment Officer Kate El-Hillow and others on the leadership team, will help propel the firm through the next phase of growth, with a focus on delivering a superior client experience."

"I am deeply honored to join Russell Investments," said Buchwald, former managing director at BlackRock, Inc. "I've long admired Russell Investments' unique legacy as a pioneer in investment consulting, OCIO, portfolio implementation, and much more. Today's Russell is differentiated by its commitment to a total portfolio approach, which is critical in our inter-connected investment universe. I am excited to work with this innovative team to help clients achieve their investment goals with the best possible toolkit."

Buchwald joins Russell Investments from BlackRock, where as the head of its institutional business in North America he was responsible for delivering BlackRock's investment capabilities to the firm's institutional clients. Prior to this role, he led BlackRock's Financial Institutions Group, and earlier he helped establish its Retirement Solutions and Financial Markets Advisory platforms. Buchwald has focused much of his career on improving financial security for retirees, which is also central to Russell Investments' stated mission.

At BlackRock, he also served on the firm's Global Operating Committee, the US/Canada Executive Committee, and as sponsor of its LGBT employee network.

Prior to joining BlackRock in 2008, Buchwald served as a managing director at Morgan Stanley, where he held positions of increasing responsibility within the firm's fixed income division, with leadership responsibility for the bank's collateralized loan obligation (CLO) platform by the end of his tenure.

"This is great news for Russell Investments' clients. I look forward to working with Zach, especially benefiting from his stellar record of innovating client solutions to deliver on their desired investment outcomes," said Kate El-Hillow, President and Chief Investment Officer at Russell Investments. "Zach is expertly prepared to further the firm's innovation success—from cutting-edge asset allocation and unparalleled money manager insights to some of the earliest forays into factor exposures, and a competitively recognized implementation capability—to address the exacting demands of investors globally."

Milton R. Berlinski, managing partner at Reverence Capital Partners, added, "Our extensive search process produced a CEO with proven leadership skills and deep industry experience who fully values Russell Investments' mission of improving people's financial security. Together with the firm's leadership team, we are confident Zach will successfully further the firm's client-centric focus and momentum from day one."

About Russell Investments

Russell Investments is a leading global investment solutions firm providing a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 87-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve the financial security of its clients. The firm has $276.5 billion in assets under management (as of 12/31/2022) for clients in 32 countries. Headquartered in Seattle, Washington, Russell Investments has offices in 17 cities around the world, including in New York, London, Toronto, Tokyo, and Shanghai.

MEDIA CONTACTS

newsroom@russellinvestments.com

Any statements of opinion expressed within this publication are that of Russell Investments and are current at the time of issue. The information and opinion given in this publication is given in good faith. All opinions expressed are subject to change at any time. Russell Investments nor any of its staff accepts liability with respect to the information or opinions contained in this publication.

All investments carry a level of risk and do not typically grow at an even rate of return and could experience negative growth.

Any past performance results should not be seen as a guide to future returns. Any scenarios presented are an estimate of future performance based on evidence from the past on how the value of an investment varies and are not an exact indicator.

In EMEA this content is suitable for Professional Clients Only.

Russell Investments is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone, and applying the relevant accessibility standards.

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.

Frank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the "FTSE RUSSELL" brand.

Issued by Russell Investments Limited. Company No. 02086230. Registered in England and Wales with registered office at: Rex House, 10 Regent Street, London SW1Y 4PE. Telephone +44 (0)20 7024 6000. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.

© Russell Investments Group, LLC. 1995-2025. All rights reserved. This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an "as is" basis without warranty.

Regulated by the Dubai Financial Services Authority.