Russell Investments’ global chief investment officer is stepping down from his role, the firm confirmed Monday.
Jeff Hussey — who has worked for Russell Investments for more than 27 years — will step down October 15, a spokesperson for the firm said via email. Clients were told of the move last month, the spokesperson said.
Hussey’s departure will be the latest in a string of changes for Russell’s C-suite. The firm brought on a new chief operating officer, Rick Smirl, over the summer, and last year hired a new chief executive officer, Michelle Seitz.
Pete Gunning, another longtime Russell employee, has assumed the role of global CIO, according to the spokesperson. He worked in the job from 2008 to 2013 and had been serving as CEO for Asia Pacific prior to taking over from Hussey, the spokesperson said.
“Pete has extensive investment leadership experience, a reputation for investment innovation, and a superior long-term investment performance track record,” the spokesperson said in an email. “Pete will help build on the positive trajectory of our business, working closely with Russell Investments’ deep and talented investment leadership team.”
Hussey has worked as the firm’s CIO since August 2013, according to Russell’s website. He joined in 1991, working his way through analytical, operational, and research roles before becoming a fixed income portfolio manager in 2001. He began overseeing U.S. fixed income at the firm in 2003 and took charge of the London and Canada fixed income operations in 2008.
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His successor Gunning, meanwhile, is a member of the firm’s executive committee and global leadership forum, according to the spokesperson. He joined the firm in 1996 and operates out of Sydney.