Russell Names BlackRock Exec as New CEO

Buchwald joins Russell Investments from BlackRock, where as the head of its institutional business in North America he was responsible for delivering the company's investment capabilities to institutional clients. He joined BlackRock from Morgan Stanley in in 2008.

Before his most recent role, Buchwald, who has focused on retirees' financial security, led BlackRock's financial institutions group and helped establish the company's retirement solutions and financial markets advisory platforms. He also has served on the firm's global operating committee, the U.S.-Canada executive committee and as sponsor of its LGBT employee network.

"This is great news for Russell Investments' clients. I look forward to working with Zach, especially benefiting from his stellar record of innovating client solutions to deliver on their desired investment outcomes," El-Hillow said.

"Zach is expertly prepared to further the firm's innovation success — from cutting-edge asset allocation and unparalleled money manager insights to some of the earliest forays into factor exposures, and a competitively recognized implementation capability — to address the exacting demands of investors globally."