Russell boosts regional transition management expertise

John Moore transfers from the United States to Sydney to oversee regional growth.
On the back of an expanding book of business in transition management for regional institutional investors and fund management companies, Russell Investment Group has beefed up its regional offering with two senior transfers. John Moore, senior portfolio manager, is a transition management expert from the group's headquarters in Tacoma, Washington, who is moving to Sydney to run the business throughout the Asia-Pacific.

He will be supported by Sally Corbett, who joined the firm in Australia last year as a portfolio transition manager. Russell's transition management services group encompasses commission recapture and policy implementation, portfolio transition, rebalancing, interim asset management, agency currency execution and overlays, all of which are intended to help institutional investors' fund performance and reduce overall risk.

A Russell spokeswoman says the firm's business in Australia has grown enough to justify dedicating resources to tackle Asia more thoroughly. The firm used to have a transition management executive in Singapore, Gemma Dooley, but since last year when she returned to Sydney, she has been focused more on Australia.

Dooley will now report to Moore. Another factor behind the moves is a general trend toward decentralizing Russell's implementation services, so that the business is run on the ground from various regional hubs rather than solely from the United States.

Bruce Pflaum, Asia managing director in Singapore, adds that value-added services such as transition management should increasingly appeal to Asian investors in the current low-return environment, when every basis point counts and when volatility needs to addressed. Moore will report to Stephen Roberts, managing director of the Australian institutional business.

He joined the firm's Tacoma-based dedicated global portfolio transition team in 2000, which handles work for both Russell funds and separate client accounts