Mr Schoenheimer has been with the group and assumed responsibility for its Australian operations in February this year in his Asia Pacific role when Australasia CEO Chris Corneil departed after 15 years with the group.
In his new role, Mr Schoenheimer will continue to work on strategic projects in a non-executive advisory role at the firm, Russell stated.
Russell’s current global chief investment officer, Pete Gunning, will return to Australia to succeed Mr Schoenheimer as Asia Pacific CEO.
Jeff Hussey has been appointed global CIO to replace Mr Gunning and the group’s current senior fixed income portfolio manager, Gerard Fitzpatrick, will succeed Mr Hussey as chief investment officer, global fixed income.
All the changes will take effect from 1 October 2013, Russell stated.
Russell said Mr Hussey will be Russell’s investment management, implementation and research activities worldwide, based in Seattle. He has over 20 years’ asset management experience with Russell, including a decade as CIO of fixed income. He will also serve on Russell’s executive committee.
Russell CEO Len Brennan said Mr Hussey has “deeply rooted investment experience in a variety of vital leadership, portfolio management and analyst roles at Russell, including a successful 12-year track record with our bond funds”.
As new Asia Pacific head, Mr Gunning will be based in Sydney and will now have responsibility for the firm’s business activities in Japan, Korea, China, Taiwan, Singapore, Australia and New Zealand. He will continue to serve as a member of the executive committee and report to Mr Brennan, Russell stated.
“The appointment of our former global chief investment officer, an extraordinary investment professional, to lead the Asia Pacific business demonstrates Russell’s commitment to this region,” Mr Brennan stated.
