Tom Fletcher, CFA

Tom Fletcher, Managing Director, Overlay Services

Managing Director, Overlay Services

B.S., Mechanical Engineering, United States Naval Academy
M.B.A., Finance and Portfolio Management, University of Texas at Austin
Licensed Registered Representative, FINRA Series 7, 63, and 24
CFA Charterholder, CFA Institute


Tom Fletcher is managing director of overlay services for Russell Investments. Tom has ongoing management responsibility for the derivative overlay business globally and has been a key member of the team since joining it in 2004. The overlay services team is responsible for identifying, evaluating and developing multi-asset implementation solutions for Russell Investments’ worldwide client base. Tom is a voting member of the implementation services’ executive committee and has played an active role in risk management and oversight activities for broader activities of the firm.

During much of his tenure with the team, Tom has played a key role in developing and implementing investment strategies for external clients and Russell Investments funds. Tom has been instrumental in putting new trading capabilities in place, particularly in the area of OTC derivatives. He has also authored research for Russell Investments’ institutional client base on beta management alternatives, portable alpha programs and downside protection strategies. Tom played a formative role in developing dynamic hedging strategies in the Japanese market and evaluating their potential for specific needs in other markets. Tom joined the firm in 2003 as a member of the transition management team.

Prior to Russell Investments, Tom worked for Atlanta-based INVESCO specializing in derivatives and currency overlay, and risk management for a global tactical asset allocation business. In that role, he developed capabilities in global futures, currency, exchange traded funds and over-the-counter derivatives.

Tom is the managing director of overlay services of Russell Investments Implementation Services, LLC, Russell Investments’ global trading firm. Russell Investments Implementation Services, LLC is an SEC registered investment adviser and FINRA member firm.

Published works include:


Overlay programs for today's large defined benefit (DB) pensions

November 2022
This insight lays out a potential solution for your implementation headaches. We share how overlay programs may help with LDI completion and other implementation risks.

Real world overlay solutions in challenging times

May 2021
3 themes on evolving client needs at major inflection points

What’s new in overlay services? 5 evolutionary trends

July 2019
Learn about the five evolutionary trends and how they help investors to better achieve their goals.