Penny Zuckerwise, CEO of Russell Investments’ Americas Institutional business, left the firm to pursue other opportunities.
A Russell spokeswoman said Ms. Zuckerwise, who was based in New York, decided not to relocate to the company’s headquarters in Seattle, as preferred by company executives.
The spokeswoman had no further information on Ms. Zuckerwise’s plans, and she couldn’t immediately be reached for comment.
Ms. Zuckerwise had joined Russell on May 3 from Utendahl Capital Management, where she served as president and CEO.
Greg Gilbert, a managing director as well as president and CEO of Russell Investment Services, has been named CEO, Americas Institutional.
Ian Battye, managing director, implementation services, Europe, Middle East, Africa, will succeed Mr. Gilbert as managing director, Russell Investment Services. The future of the president and CEO titles wasn’t immediately clear. The spokeswoman said no immediate information is available on who will fill Mr. Battye’s previous position.
Separately, Russell’s Americas Institutional business will be reorganized from its previous large-market and midmarket structure into five distinct market segments: large market, midmarket, defined contribution, non-profit and consulting, with solutions that integrate the firm’s consulting, Russell Investment Services and investment management capabilities.