The company says Schuck “has made a personal decision to leave the company” after nine years at its head.
Mark Blair has been appointed the new managing director for New Zealand, however he will be running the business from Australia. He has worked for Russell for the past four years and is currently responsible for business initiatives in the Australasian region following a period leading the development and growth of Russell’s Super Solution Master Trust.
Prior to joining Russell, Blair worked with Towers Perrin in Australia providing strategic advice to some of the largest super funds.
Russell in New Zealand has, in the past few years, become increasingly aligned with the Australian business in terms of functionality and organisational reporting. Chris Corneil, the incoming head of Russell’s Australian and New Zealand business, said Blair’s appointment formed part of the continued alignment of the two businesses.
“The New Zealand operation remains a key asset for Russell and we remain committed to providing the highest level of investment advice and investment management services to our New Zealand clients to help them tackle the challenges that all investors will face in 2009 and beyond,” Corneil said.
Russell Investments also announced that Sasha Mandich will be returning to the New Zealand office in February 2009, following a 12 month international assignment with Russell.
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