Russell Investments, the global investment manager and London Stock Exchange Group subsidiary, has announced the appointment of a new Chief Executive Officer (CEO) in BlackRock's Head of North American Institutional Business, Zach Buchwald.
Buchwald's hiring comes at a time of significant change for Russell Investments, which manages $276.5 billion in assets. The firm has recently undergone a rebranding and is focusing on expanding its multi-asset and alternative offerings, as well as its environmental, social, and corporate governance (ESG) capabilities. In a statement, Buchwald highlighted his commitment to growing the firm's business and helping clients achieve their investment goals.
Before his time at BlackRock, Buchwald was a Managing Director at Morgan Stanley. He left the company in 2008 when an announcement from the company indicated that he had "leadership responsibility" for Morgan Stanley's collateralized loan obligation platform. From there, his journey with BlackRock began, where he made a name for himself as a pioneer in managing institutional wealth. With over 15 years of experience in BlackRock, Buchwald most recently spearheaded the efforts of the firm's Canadian and United States financial institutions group. He also aided in retirement solutions and financial market advisory platforms. Additionally, he was a sponsor of BlackRock's employee LGBT network. Buchwald will take up the role on May 1st, succeeding Michelle Seitz, who has led the company since 2017.
As CEO, Buchwald will also be tasked with leading the firm through a challenging investment environment. Rising inflation and interest rates, geopolitical risks, and the ongoing impact of the COVID-19 pandemic all present significant challenges for investors. Buchwald isn't the first executive hired to lead Russell Investments into the future; Kate El-Hillow, a hire from 2021, now serves as the Global Chief Investment Officer and President.
"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 — to address the exacting demands of investors globally," El-Hillow said in a public statement.