Russell Investments expands executive leadership team, naming Vernon Barback President
Newly created role part of Russell Investments’ efforts to maximize global growth opportunities
SEATTLE, January 13, 2016
Russell Investments, a global asset manager providing actively managed multi-asset portfolios and services that include advice, investments and implementation, today announced the appointment of Vernon Barback as President. The appointment is effective January 21. Barback will be a member of the firm’s Executive Committee, reporting to CEO Len Brennan.
"Global investable assets are growing rapidly as institutional and individual investors strive to achieve a wide array of financial outcomes and Russell Investments is uniquely positioned to meet these investors' needs. Vernon's vast financial services industry experience and extensive operational and technology expertise will help position our multi-asset business for the tremendous growth opportunities that lie ahead," said Brennan commenting on the appointment.
Barback will focus on leading strategic infrastructure initiatives, including building and operating a comprehensive shared services model and advancing Russell Investments' technology strategy for its multi-asset solutions business. He will have reporting responsibility for the firm's infrastructure business units within the offices of the chief financial officer, chief legal officer and chief operating officer.
Barback joins Russell Investments from Altß Partners. Prior to co-founding Altß Partners, he was president and chief operating officer and a member of the management committee of GlobeOp Financial Services, formerly a TA Associates portfolio company. TA Associates announced in October 2015 that it entered into an agreement together with Reverence Capital Partners to acquire Russell Investments from London Stock Exchange Group (LSEG). In that announcement, Todd Crockett, a managing director at TA Associates, noted, "We believe that the breadth of Russell Investments' investment and implementation operations, as well as its orientation to multi-asset and solutions investing, will continue to be a differentiator and driver of growth in the marketplace going forward."
Prior to GlobeOp Financial Services, Barback worked at Citigroup asset management as the global head of operations and technology. He holds B.A. and M.A. degrees in economics from Cambridge University, England.
"I am excited to join Len's management team and Russell Investments at this important juncture in the firm's history. I have known Russell Investments via its venerable reputation for many years, and I am thrilled to now be part of a firm I have long respected," said Barback.
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 which include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisors and individuals working with their advisors—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 $237 billion in assets under management (as of 9/30/2015) 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 $2.4 trillion in assets under advisement (as of 12/31/2014). 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 $1.7 trillion in 2014 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, Singapore, Seoul, Tokyo, Shanghai, Beijing, Toronto, Chicago, Milwaukee and Edinburgh. For more information about how Russell Investments helps to improve financial security for people, visit https://russellinvestments.com or follow @Russell_Invest.
First used: January 2016