Russell Investments has made a spate of new appointments as it prepares to launch an exchange-traded fund (ETF) in Australia targeting self-managed superannuation funds (SMSF).
“Russell plans to launch an ETF in the Australian market this year. Russell will be building off its global expertise in index design and specific product details will be revealed later this year,” a Russell spokesperson said.
“The forthcoming ETF has been built with SMSFs in mind and is one of a range of innovative solutions Russell has on offer for SMSF investors.”
The company said it has built a specialist ETF team in Australia.
Amanda Skelly has been made ETF product development director and has relocated to Australia from Russell’s US headquarters.
The firm has also appointed Bronwyn Yates as ETF product specialist.
The market capitalisation of ETFs listed on the local market surged 140.9 per cent to $2.93 billion in the 12 months to January 2010, Australian Securities Exchange statistics show.
Additionally, Russell has made a raft of changes to its retail business after demand from the SMSF segment grew.
Russell’s northern business development team manager Andrew Jago has been made SMSF development manager.
Aviva’s former New South Wales state manager Ben Moore will step into Jago’s role.
Ex-AIA Group staffer Richie Sorensen has been appointed to Russell as a Sydney-based business development manager.
The company has also made key management changes.
Russell director of actuarial and benefits consulting Steve Schubert has been appointed as the firm’s superannuation managing director.
The company’s director of superannuation Geoff Peck has been appointed as managing director of government and institutions.
