SEATTLE--(BUSINESS WIRE)--Global asset manager Russell Investments announced today that Keith McRedmond has joined the firm as managing director, business development for the U.S. Private Client Services business. This business provides financial advisors at wirehouses, independent broker dealers and banks, as well as independent Registered Investment Advisors, with multi-asset investing solutions aimed at addressing fee sensitivity, tax management and sustainable income. It also provides advisors with practice management support to help run and grow their businesses. McRedmond will be responsible for cultivating, growing and managing all distribution relationships across these groups.
McRedmond brings to the role more than three decades of experience in financial services, including extensive understanding of both the asset management and broker dealer segments of the industry. He will report directly to the head of U.S. Private Client Services, Mark Spina, and will be a member of the U.S. Private Client Services leadership team. He will be based in New York.
“The increasing utilization of high quality managed model portfolios and focus on the importance of fiduciary advice has brought new relevance to the benefits of Russell Investments’ multi-asset approach to investing. Keith’s extensive background in developing strong distribution relationships and products will help us extend the reach of these solutions to advisors and their end-investor clients,” said Spina. “Keith’s experience gives him the perspective to keenly understand the challenges that advisors and their firms are facing in the current environment, and will allow him to connect their needs with the investment and business solutions that will help them overcome these challenges.”
Most recently, McRedmond spent six years at Goldman Sachs Asset Management (GSAM), where his latest position was vice president and head of closed end funds and capital market products. In this role, he launched GSAM’s closed end fund business and managed product strategy initiatives with distribution partners and underwriters. Prior, he was vice president and strategic relationship manager, national accounts at GSAM, responsible for leading client relationship management and business development efforts to expand product distribution and sales across broker dealer clients. Earlier in his career, McRedmond also held roles at Old Mutual Investment Management and AIM/INVESCO.
Commenting on his new role, McRedmond said, “The connection between Russell Investments’ investment management and advisor practice management capabilities and the industry’s needs couldn’t be stronger than at this moment in time, making this a very exciting move for me. Whether it is the evolving needs of distribution partner amidst DoL confusion, or new demands from investors for risk-managed, fee-sensitive investment options, I am excited to help bring Russell Investments story to the industry, and to help advisors be better equipped to serve their investor clients and demonstrate their value.”
“We know that advisors are thinking about how best to deliver value and services in a fiduciary-focused world as the broad-based transition from transactional to fee-based models continues. We stand ready to help advisors build better outcomes for their clients in a repeatable way, so that their time can be optimized toward building client relationships, while also improving and growing their firms,” said Spina.
About Russell Investments
Russell Investments, a global asset manager, offers multi-asset portfolios and services which include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures—to help each achieve their desired investment outcomes. The firm has more than $266 billion in assets under management (as of 3/31/2017).
Headquartered in Seattle, Washington, Russell Investments operates globally with 21 offices, providing investment services in the world’s major financial centers such as London, Paris, Amsterdam, Sydney, Tokyo, Shanghai, Toronto and New York. For more information about how Russell Investments helps to improve financial security for people, visit russellinvestments.com or follow @Russell_Invest.
Russell Investments’ ownership is composed of a majority stake held by funds managed by TA Associates with minority stakes held by funds managed by Reverence Capital Partners and Russell Investments’ management.
Frank Russell Company is the owner of the Russell trademarks contained in this material and all trademark rights related to the Russell trademarks, which the members of the Russell Investments group of companies are permitted to use under license from Frank Russell Company. The members of the Russell Investments group of companies are not affiliated in any manner with Frank Russell Company or any entity operating under the “FTSE RUSSELL” brand.
Russell Investments Financial Services, LLC, member FINRA, part of Russell Investments.