RussellÆs Australian CEO to lead international business

Alan Schoenheimer will move to London in January, while Chris Corneil will take over the Australia and New Zealand business.
Russell Investments has announced a series of management changes that include its long-time CEO of the Asia-Pacific region, Alan Schoenheimer, taking on an expanded international role starting January.

Sydney-based Schoenheimer will relocate to London to head up RussellÆs international business. The role expands his responsibilities to include Russell's Europe, Middle East and Africa (EMEA) operations. He will oversee a team of over 500 professionals across five continents, including Australia. He reports to RussellÆs global president and chief executive officer John Schlifske.

Schoenheimer also joins fellow Australian Peter Gunning on RussellÆs eight-strong global executive committee, which is responsible for managing RussellÆs A$200 billion business around the world.

In his present role, which he has held since 2000, Schoenheimer manages Russell's operations in Australia, New Zealand and South East Asia. He is responsible for developing the strategic direction of Russell businesses in the Australasian region. He is involved in the ongoing development of client and business partner relationships and in enhancing the delivery of Russell capabilities to these clients and business partners.

Schoenheimer joined Russell's Sydney office as a senior consultant in early 1991. Since that time, he has been responsible for serving a number of Russell's Australian, New Zealand and Asian clients in the areas of strategy formulation and manager structuring, with an emphasis on offshore investments and currency hedging issues. Prior to joining Russell, between 1986 and early 1991, Alan was a consultant with McKinsey & Company, based in Sydney.

Taking over Schoenheimer in January will be Chris Corneil, managing director of RussellÆs Investor Services group, who has been promoted to head RussellÆs Australian and New Zealand businesses. He will continue to report to Schoenheimer.

Schoenheimer said the moves would place the Australian business and Australian customers even closer to the core of RussellÆs global business.

ôWe continue to see our value proposition resonate with clients in this time of unprecedented market uncertainty,ö says Schoenheimer. ôRussellÆs core strategy is to provide superior investment management by identifying the worldÆs best investment managers and bringing them to individuals, advisers and institutional clients to achieve investment excellence. That skill is now in ever increasing demand.ö

Corneil says he is looking forward to continuing to grow RussellÆs Australian and New Zealand operations, reinforcing the organisationÆs core manager research and investment strategy work, which the group has extended beyond its traditional institutional client base to advisers and individuals. The impact of the current credit crisis meant investment markets would be irrevocably changed, meaning a change of thinking for investors of all types, he says.

ôThe current environment is akin to the fog of war, but I believe once we have more visibility the investing world will be different in 2009. We expect to see a greater focus on strategies that are truly diversified and investment processes that are truly disciplined,ö Corneil says

Russell recommends that clients increase their hedging of foreign equities as well as engage in disciplined rebalancing of portfolios following the skewing of asset allocations caused by equity market falls.

Corneil originally joined Russell in 1998 to work on the launch of RussellÆs Gateway Investment Program, a strategic alliance between Russell and ANZ Bank. In 2003 Corneil, he was appointed to lead the retail adviser business as it broadened its footprint through a range of new multi-manager investment programs and strategic relationships with major planner groups. In February this year, Corneil was appointed to head the combined retail and institutional services group, known as Investor Services.

Russell has more than A$200 billion in assets under management and serves individual, institutional and adviser clients in more than 47 countries.
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